Otsego, MN Cost Of Living
Cost Of Living In Otsego, MN Summary
Cost of living in Otsego 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 Otsego 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 Otsego is 107, with 100 being the average.
The cost of living index in Otsego is 1.1x higher than the national average.
Otsego ranks as the #89 cheapest in Minnesota out of 147.
Otsego ranks as the #3,867 cheapest out of 6,412 in the US.
The median home value in Otsego is $307,200.
The median income in Otsego is $114,087.
Table Of Contents
Otsego's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Otsego, MN?
According to the most recent data on the cost of living, Otsego has an overall cost of living index of 107, which is 1.1x higher than the national index of 100.
Compared to Minnesota, Otsego has a cost of living index that's 1.1x higher than Minnesota's index of 95.
The standard of living in Otsego ranks as #89 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Otsego ranks as the #58 most expensive place in the North Star State.
For more reading on life in Otsego, check out:
- Living In Otsego
- Search Homes For Sale In Otsego, MN
In Minnesota
In America
Otsego Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Otsego. Here is how it fairs on each of the criteria:
The Services index in Otsego is 110.
The Groceries index in Otsego is 104.
The Health index in Otsego is 102.
The Housing index in Otsego is 116.
The Transportation index in Otsego is 103.
The Utilities index in Otsego is 99.
| Living Expense | Otsego | Minnesota | National Average | |
|---|---|---|---|---|
| Overall | 107 | 95 | 100 | |
| Services | 110 | 101 | 100 | |
| Groceries | 104 | 98 | 100 | |
| Health | 102 | 111 | 100 | |
| Housing | 116 | 83 | 100 | |
| Transportation | 103 | 98 | 100 | |
| Utilities | 99 | 95 | 100 | |
Otsego, 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 Otsego is $307,200.
The Median Rent in Otsego is $1,490.
The Median Income in Otsego is $114,087.
The Home Value To Income in Otsego is 2.7x.
The Rent To Monthly Income in Otsego is 0.16x.
| Statistic | Otsego | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $307,200 | $250,200 | $244,900 |
| Median Rent | $1,490 | $1,081 | $1,163 |
| Median Income | $114,087 | $77,706 | $69,021 |
| Home Value To Income | 2.7x | 3.2x | 3.5x |
| Rent To Monthly Income | 0.16x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Otsego, MN Costs By Category
Detailed Otsego Services Costs Vs. Minnesota
Detailed Otsego Groceries Costs Vs. Minnesota
Detailed Otsego Health Costs Vs. Minnesota
Detailed Otsego Transportation Costs Vs. Minnesota
Detailed Otsego Utilities Costs Vs. Minnesota
Otsego SnackAbility
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Cost Of Living In Cities Around Otsego
The cost of living varies in the cities and towns around Otsego. Here's a quick look at the cost of living in the most populous nearby places:
Plymouth, MN has a cost of living index of 122, 1.1x Otsego.
Maple Grove, MN has a cost of living index of 117, 1.1x Otsego.
Andover, MN has a cost of living index of 114, 1.1x Otsego.
| City | Population | Cost Of Living | Vs. Otsego |
|---|---|---|---|
| Plymouth, MN | 80,034 | 122 | 1.1x |
| Maple Grove, MN | 69,900 | 117 | 1.1x |
| Andover, MN | 32,471 | 114 | 1.1x |
| Ramsey, MN | 27,409 | 109 | 1.0x |
| Elk River, MN | 25,467 | 106 | 1.0x |
| Champlin, MN | 23,877 | 110 | 1.0x |
| New Hope, MN | 21,683 | 106 | 1.0x |
| St. Michael, MN | 18,148 | 114 | 1.1x |
| Monticello, MN | 14,235 | 105 | 1.0x |
| Rogers, MN | 13,182 | 120 | 1.1x |
