Cost of Living in Savage, MN

Housing

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

• Housing Index: 0.0 / 100
• Median Home Price is: $415000
• Average Rent (2 BR Apartment): $0.0 per month
• Average Rent (2 BR House): $0.0 per month

In Savage, MN, the current housing market presents a median home price of 415000, suggesting potential for investment in property ownership. However, with a housing index of 0.0, it appears that both the rental market and inventory could be lackluster, as indicated by the zero average rents for both 2-bedroom apartments and houses. This might indicate a shortage of rental options, making home purchase more appealing for stability. It's crucial to consider neighborhood amenities and job growth trends in Savage when making your relocation decision.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Savage, 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.): $0.0 per month

Living in Savage, 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 0.0 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: 0.0

Median Income

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

• Median Income: $123069

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 Savage, 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.