Cost of Living in Minot, ND
Housing
The housing market plays a significant role in determining the cost of living in Minot, ND.
- Housing Index: 90.0 / 100
- Median Home Price is: $273,000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1300 per month
When considering a move to Minot, ND, the reasons to take the leap are evident in the housing data. With a housing index of 90.0, affordability remains relatively accessible compared to larger urban areas. The median home price of 273000 positions home ownership within reach, making it an attractive prospect for first-time buyers or families looking to settle down. Additionally, average rent for a 2-bedroom apartment is 1200 and for a house is 1300. This suggests a good balance between owning and renting in the area. Make sure to weigh the lifestyle options and job market potential before deciding!
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Minot, ND.
- Electricity Price: $13.65 USD (median by state)
- Natural Gas Price: $10.8 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $200 per month
Living in Minot, ND could entail higher utility costs. Electricity costs sit at $13.65, while natural gas is priced at $10.8 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 Minot is a financially viable option for your relocation.