Austin, MN Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Austin, MN Summary

Cost of living in Austin research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Austin is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Minnesota, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Austin is 84, with 100 being the average.

  • The cost of living index in Austin is 0.8x lower than the national average.

  • Austin ranks as the #4 cheapest in Minnesota out of 147.

  • Austin ranks as the #629 cheapest out of 6,412 in the US.

  • The median home value in Austin is $118,500.

  • The median income in Austin is $54,320.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
84
Austin's Overall Cost Of Living
0.8x
Lower Than The National Average

What is the cost of living in Austin, MN?

According to the most recent data on the cost of living, Austin has an overall cost of living index of 84, which is 0.8x lower than the national index of 100.

Compared to Minnesota, Austin has a cost of living index that's 0.9x lower than Minnesota's index of 95.

The standard of living in Austin ranks as #4 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Austin ranks as the #143 most expensive place in the North Star State.

For more reading on life in Austin, check out:

4 out of 147
In Minnesota
629 out of 6,412
In America

Austin Cost Of Living Vs. Minnesota

Six factors go into calculating the cost of living index in Austin. Here is how it fairs on each of the criteria:

  • The Services index in Austin is 96.

  • The Groceries index in Austin is 91.

  • The Health index in Austin is 101.

  • The Housing index in Austin is 60.

  • The Transportation index in Austin is 93.

  • The Utilities index in Austin is 111.

Living Expense Austin Minnesota National Average
Overall 84 95 100
Services 96 101 100
Groceries 91 98 100
Health 101 111 100
Housing 60 83 100
Transportation 93 98 100
Utilities 111 95 100
For more reading on cost of living around Minnesota, check out:
Austin Cost of Living Vs. MN

Austin, MN Housing Cost Breakdown

Housing swings affordability the most between places in Minnesota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Austin is $118,500.

  • The Median Rent in Austin is $830.

  • The Median Income in Austin is $54,320.

  • The Home Value To Income in Austin is 2.2x.

  • The Rent To Monthly Income in Austin is 0.18x.

Statistic Austin Minnesota United States
Median Home Value $118,500 $250,200 $244,900
Median Rent $830 $1,081 $1,163
Median Income $54,320 $77,706 $69,021
Home Value To Income 2.2x 3.2x 3.5x
Rent To Monthly Income 0.18x 0.17x 0.2x
Search Homes For Sale In Austin, MN
$118,500
Median Home Value
$830
Median Rent
$54,320
Median Income

Austin, MN Costs By Category

Detailed Austin Services Costs Vs. Minnesota

Item Austin Minnesota
Shampoo $1.05 $1.06
Movie $9.5 $10.68
Bowling $10.0 $14.67
Haircut $19.56 $18.62
Beauty Salon $24.89 $39.05

Detailed Austin Groceries Costs Vs. Minnesota

Item Austin Minnesota
Ground Beef $3.78 $4.22
Fried Chicken $1.53 $1.39
Milk $1.88 $2.05
Potatoes $2.63 $3.29
Pizza $12.07 $10.62
Beer $8.53 $9.38
Toothpaste $2.59 $2.34

Detailed Austin Health Costs Vs. Minnesota

Item Austin Minnesota
Optometrist $91.44 $108.57
Doctor $126.17 $116.17
Dentist $93.33 $99.13

Detailed Austin Transportation Costs Vs. Minnesota

Item Austin Minnesota
Gasoline $2.01 $2.22
Tire Balancing $45.42 $50.07

Detailed Austin Utilities Costs Vs. Minnesota

Item Austin Minnesota
All Electricity $197.53 $167.67
Phone $180.82 $175.64

Austin SnackAbility

6
/10
Overall SnackAbility
Jobs
7/10
Housing
6
Affordability
8
Diversity
8.5
Safety
6
Amenities
9
Education
6
Commute
9.5

Cost Of Living In Cities Around Austin

The cost of living varies in the cities and towns around Austin. Here's a quick look at the cost of living in the most populous nearby places:

  • Rochester, MN has a cost of living index of 95, 1.1x Austin.

  • Owatonna, MN has a cost of living index of 92, 1.1x Austin.

  • Faribault, MN has a cost of living index of 92, 1.1x Austin.

City Population Cost Of Living Vs. Austin
Rochester, MN 119,732 95 1.1x
Owatonna, MN 26,366 92 1.1x
Faribault, MN 24,310 92 1.1x
Albert Lea, MN 18,433 85 1.0x
Waseca, MN 9,237 88 1.0x
Clear Lake, IA 7,673 90 1.1x
Kasson, MN 6,772 90 1.1x
Stewartville, MN 6,620 94 1.1x

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