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Cost of Living

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Cost of Living

 
Minot’s cost of living is 3.8% lower than the national average for the second quarter of 2022.  The U.S. Average Composite Index is 100%.  The cost of living index is published by the Council for Community and Economic Research (C2ER).  The C2ER Cost of Living Index measures differences between areas in the cost of consumer goods and services, excluding taxes and non-consumer expenditures.  It is based on 100,000 data points, for which prices are collected quarterly by the Minot Area Chamber EDC and 288 other areas across the nation.  This is a snapshot in time and does not indicate a change from a prior quarter, nor can it be compared to a prior quarter.
 
  Minot,
ND 
Bismarck/Mandan,
ND Metro 
Grand Forks,
ND-MN Metro   
Minneapolis, MN Metro    
    Pierre,   
SD
100% Composite Index             96.2 99.1 94.8 97.3 97.5
Grocery Items 106.1 102.8 97.1 95.6 105.7
Housing  80.7 104.6 91.5 88.5 97.7
Utilities   96.1 92.0 96.2 101.2 94.0
Transportation 105.2 86.9 102.3 101.8 87.8
Healthcare 110.0 113.4 106.1 100.5 100.3
Misc. Goods 102.4 94.5 92.8 104.4 95.7
   

(Source: C2ER)


Sample Wages for our area

Sample Wages 2020

Occupational Employment and Wage Rates (OES) for Annual Mean Wage.  (Labor Market Information Center)
 
 
Assessed Value
Residential Homes 2020                                              Annual Tax

$175,000                                                                             $2,617
$225,000                                                                             $3,365
$275,000                                                                             $4,112

(Estimates are for Minot Public School District Zone)





 
 
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