Cost of Living in Mankato, MN

Housing

The housing market plays a significant role in determining the cost of living in Mankato, MN.

• Housing Index: 90.0 / 100
• Median Home Price is: $253000
• Average Rent (2 BR Apartment): $1500 per month
• Average Rent (2 BR House): $1550 per month

Based on the data for Mankato, MN, the housing index of 90.0 indicates that overall affordability may be reasonable compared to other regions. The median home price of 253000 suggests a stable entry point for potential homeowners, while the average rent for a 2-bedroom apartment is set at 1500, and for a 2-bedroom house at 1550. This can attract renters seeking more spacious living options. Consider the overall cost of living and job opportunities in the area when making your decision to move, as these factors can significantly impact your long-term satisfaction.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Mankato, MN.

• Electricity Price: 16.38 USD (median by state)
• Natural Gas Price: $14.87 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $200 per month

Living in Mankato, MN could entail higher utility costs. Electricity costs sit at 16.38, while natural gas is priced at 14.87 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 200 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 98.5

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $61726

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Mankato, MN, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.