Cost of Living: Forest lake, MN vs Bangor, ME
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Forest lake | Bangor |
|---|---|---|
| Housing Index | 115.0 | 110.5 |
| Median Home Price | $374,000 | $227,000 |
| Average Rent (2 BR Apartment) | $1500 | $1200 |
| Average Rent (2 BR House) | $1600 | $1300 |
Housing Comparison: Forest lake vs Bangor
- In Forest lake, the median home price is higher at $374,000, while in Bangor it is $227,000.
- Renting a two-bedroom apartment costs more in Forest lake at $1,500 than in Bangor at $1,200.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Forest lake | Bangor |
|---|---|---|
| Electricity Price | $16.38 | $22.26 |
| Natural Gas Price | $14.87 | $21.63 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Forest lake vs Bangor
- Bangor has higher electricity costs at $22.26 per kWh, versus $16.38 in Forest lake.
- Bangor experiences higher natural gas costs at $21.63 per unit, with costs at $14.87 in Forest lake.
- Utility expenses are equal in both Forest lake and Bangor averaging $250.