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Cost of Living

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Cost of Living

Minot’s cost of living is 6.9% under the national average for the 2023 annual average. (U.S. Average Composite Index = 100%) The cost of living index is published by the American Chamber of Commerce Researchers Association (ACCRA). The ACCRA 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 urban 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   
Fargo, ND-
Moorhead,
MN Metro
    Pierre,   
SD
100% Composite Index         93.1 95.5 91.6 98.1 93.8
Grocery Items 92.2 94.1 93.5 97.1 94.5
Housing  77.9 90.3 81.4 84.1 94.9
Utilities   97.0 91.4 109.2 99.2 89.5
Transportation 104.1 99.8 94.6 98.5 98.1
Healthcare 115.4 112.6 103.8 112.8 91.6
Misc. Goods 98.7 97.8 92.2 107.9 92.7
   

(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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