Red Wing, MN Cost Of Living
Cost Of Living In Red Wing, MN Summary
Cost of living in Red Wing 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 Red Wing 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 Red Wing is 101, with 100 being the average.
The cost of living index in Red Wing is 1.0x higher than the national average.
Red Wing ranks as the #54 cheapest in Minnesota out of 147.
Red Wing ranks as the #3,263 cheapest out of 6,412 in the US.
The median home value in Red Wing is $185,800.
The median income in Red Wing is $61,040.
Table Of Contents
Red Wing's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Red Wing, MN?
According to the most recent data on the cost of living, Red Wing has an overall cost of living index of 101, which is 1.0x higher than the national index of 100.
Compared to Minnesota, Red Wing has a cost of living index that's 1.1x higher than Minnesota's index of 95.
The standard of living in Red Wing ranks as #54 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Red Wing ranks as the #93 most expensive place in the North Star State.
For more reading on life in Red Wing, check out:
- Living In Red Wing
- Red Wing Crime Report
- Search Homes For Sale In Red Wing, MN
In Minnesota
In America
Red Wing Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Red Wing. Here is how it fairs on each of the criteria:
The Services index in Red Wing is 115.
The Groceries index in Red Wing is 101.
The Health index in Red Wing is 102.
The Housing index in Red Wing is 82.
The Transportation index in Red Wing is 101.
The Utilities index in Red Wing is 95.
| Living Expense | Red Wing | Minnesota | National Average | |
|---|---|---|---|---|
| Overall | 101 | 95 | 100 | |
| Services | 115 | 101 | 100 | |
| Groceries | 101 | 98 | 100 | |
| Health | 102 | 111 | 100 | |
| Housing | 82 | 83 | 100 | |
| Transportation | 101 | 98 | 100 | |
| Utilities | 95 | 95 | 100 | |
Red Wing, 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 Red Wing is $185,800.
The Median Rent in Red Wing is $895.
The Median Income in Red Wing is $61,040.
The Home Value To Income in Red Wing is 3.0x.
The Rent To Monthly Income in Red Wing is 0.18x.
| Statistic | Red Wing | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $185,800 | $250,200 | $244,900 |
| Median Rent | $895 | $1,081 | $1,163 |
| Median Income | $61,040 | $77,706 | $69,021 |
| Home Value To Income | 3.0x | 3.2x | 3.5x |
| Rent To Monthly Income | 0.18x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Red Wing, MN Costs By Category
Detailed Red Wing Services Costs Vs. Minnesota
Detailed Red Wing Groceries Costs Vs. Minnesota
Detailed Red Wing Health Costs Vs. Minnesota
Detailed Red Wing Transportation Costs Vs. Minnesota
Detailed Red Wing Utilities Costs Vs. Minnesota
Red Wing SnackAbility
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Cost Of Living In Cities Around Red Wing
The cost of living varies in the cities and towns around Red Wing. Here's a quick look at the cost of living in the most populous nearby places:
Woodbury, MN has a cost of living index of 122, 1.2x Red Wing.
Lakeville, MN has a cost of living index of 116, 1.1x Red Wing.
Eden Prairie, MN has a cost of living index of 121, 1.2x Red Wing.
| City | Population | Cost Of Living | Vs. Red Wing |
|---|---|---|---|
| Woodbury, MN | 74,014 | 122 | 1.2x |
| Lakeville, MN | 69,026 | 116 | 1.1x |
| Eden Prairie, MN | 64,048 | 121 | 1.2x |
| Apple Valley, MN | 55,237 | 112 | 1.1x |
| Minnetonka, MN | 53,809 | 121 | 1.2x |
| Edina, MN | 53,059 | 135 | 1.3x |
| Shoreview, MN | 26,871 | 110 | 1.1x |
| Golden Valley, MN | 22,247 | 116 | 1.1x |
| Mendota Heights, MN | 11,681 | 125 | 1.2x |
| Mahtomedi, MN | 8,041 | 118 | 1.2x |
