Savage, MN Cost Of Living
Cost Of Living In Savage, MN Summary
Cost of living in Savage 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 Savage 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 Savage is 113, with 100 being the average.
The cost of living index in Savage is 1.1x higher than the national average.
Savage ranks as the #117 cheapest in Minnesota out of 147.
Savage ranks as the #4,363 cheapest out of 6,412 in the US.
The median home value in Savage is $340,300.
The median income in Savage is $115,574.
Table Of Contents
Savage's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Savage, MN?
According to the most recent data on the cost of living, Savage has an overall cost of living index of 113, which is 1.1x higher than the national index of 100.
Compared to Minnesota, Savage has a cost of living index that's 1.2x higher than Minnesota's index of 95.
The standard of living in Savage ranks as #117 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Savage ranks as the #30 most expensive place in the North Star State.
For more reading on life in Savage, check out:
- Living In Savage
- Savage Crime Report
- Search Homes For Sale In Savage, MN
In Minnesota
In America
Savage Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Savage. Here is how it fairs on each of the criteria:
The Services index in Savage is 113.
The Groceries index in Savage is 103.
The Health index in Savage is 102.
The Housing index in Savage is 137.
The Transportation index in Savage is 103.
The Utilities index in Savage is 98.
| Living Expense | Savage | Minnesota | National Average | |
|---|---|---|---|---|
| Overall | 113 | 95 | 100 | |
| Services | 113 | 101 | 100 | |
| Groceries | 103 | 98 | 100 | |
| Health | 102 | 111 | 100 | |
| Housing | 137 | 83 | 100 | |
| Transportation | 103 | 98 | 100 | |
| Utilities | 98 | 95 | 100 | |
Savage, 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 Savage is $340,300.
The Median Rent in Savage is $1,564.
The Median Income in Savage is $115,574.
The Home Value To Income in Savage is 2.9x.
The Rent To Monthly Income in Savage is 0.16x.
| Statistic | Savage | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $340,300 | $250,200 | $244,900 |
| Median Rent | $1,564 | $1,081 | $1,163 |
| Median Income | $115,574 | $77,706 | $69,021 |
| Home Value To Income | 2.9x | 3.2x | 3.5x |
| Rent To Monthly Income | 0.16x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Savage, MN Costs By Category
Detailed Savage Services Costs Vs. Minnesota
Detailed Savage Groceries Costs Vs. Minnesota
Detailed Savage Health Costs Vs. Minnesota
Detailed Savage Transportation Costs Vs. Minnesota
Detailed Savage Utilities Costs Vs. Minnesota
Savage SnackAbility
/10
Cost Of Living In Cities Around Savage
The cost of living varies in the cities and towns around Savage. Here's a quick look at the cost of living in the most populous nearby places:
Bloomington, MN has a cost of living index of 107, 0.9x Savage.
Plymouth, MN has a cost of living index of 122, 1.1x Savage.
Lakeville, MN has a cost of living index of 116, 1.0x Savage.
| City | Population | Cost Of Living | Vs. Savage |
|---|---|---|---|
| Bloomington, MN | 89,436 | 107 | 0.9x |
| Plymouth, MN | 80,034 | 122 | 1.1x |
| Lakeville, MN | 69,026 | 116 | 1.0x |
| Eagan, MN | 68,205 | 112 | 1.0x |
| Eden Prairie, MN | 64,048 | 121 | 1.1x |
| Burnsville, MN | 63,926 | 110 | 1.0x |
| Apple Valley, MN | 55,237 | 112 | 1.0x |
| Minnetonka, MN | 53,809 | 121 | 1.1x |
| Edina, MN | 53,059 | 135 | 1.2x |
| Shakopee, MN | 43,396 | 108 | 1.0x |
