Waconia, MN Cost Of Living
Cost Of Living In Waconia, MN Summary
Cost of living in Waconia 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 Waconia 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 Waconia is 111, with 100 being the average.
The cost of living index in Waconia is 1.1x higher than the national average.
Waconia ranks as the #109 cheapest in Minnesota out of 147.
Waconia ranks as the #4,219 cheapest out of 6,412 in the US.
The median home value in Waconia is $340,400.
The median income in Waconia is $94,036.
Table Of Contents
Waconia's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Waconia, MN?
According to the most recent data on the cost of living, Waconia has an overall cost of living index of 111, which is 1.1x higher than the national index of 100.
Compared to Minnesota, Waconia has a cost of living index that's 1.2x higher than Minnesota's index of 95.
The standard of living in Waconia ranks as #109 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Waconia ranks as the #38 most expensive place in the North Star State.
For more reading on life in Waconia, check out:
- Living In Waconia
- Search Homes For Sale In Waconia, MN
In Minnesota
In America
Waconia Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Waconia. Here is how it fairs on each of the criteria:
The Services index in Waconia is 112.
The Groceries index in Waconia is 102.
The Health index in Waconia is 102.
The Housing index in Waconia is 123.
The Transportation index in Waconia is 100.
The Utilities index in Waconia is 98.
| Living Expense | Waconia | Minnesota | National Average | |
|---|---|---|---|---|
| Overall | 111 | 95 | 100 | |
| Services | 112 | 101 | 100 | |
| Groceries | 102 | 98 | 100 | |
| Health | 102 | 111 | 100 | |
| Housing | 123 | 83 | 100 | |
| Transportation | 100 | 98 | 100 | |
| Utilities | 98 | 95 | 100 | |
Waconia, 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 Waconia is $340,400.
The Median Rent in Waconia is $1,103.
The Median Income in Waconia is $94,036.
The Home Value To Income in Waconia is 3.6x.
The Rent To Monthly Income in Waconia is 0.14x.
| Statistic | Waconia | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $340,400 | $250,200 | $244,900 |
| Median Rent | $1,103 | $1,081 | $1,163 |
| Median Income | $94,036 | $77,706 | $69,021 |
| Home Value To Income | 3.6x | 3.2x | 3.5x |
| Rent To Monthly Income | 0.14x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Waconia, MN Costs By Category
Detailed Waconia Services Costs Vs. Minnesota
Detailed Waconia Groceries Costs Vs. Minnesota
Detailed Waconia Health Costs Vs. Minnesota
Detailed Waconia Transportation Costs Vs. Minnesota
Detailed Waconia Utilities Costs Vs. Minnesota
Waconia SnackAbility
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Cost Of Living In Cities Around Waconia
The cost of living varies in the cities and towns around Waconia. Here's a quick look at the cost of living in the most populous nearby places:
Eden Prairie, MN has a cost of living index of 121, 1.1x Waconia.
Minnetonka, MN has a cost of living index of 121, 1.1x Waconia.
Chaska, MN has a cost of living index of 110, 1.0x Waconia.
| City | Population | Cost Of Living | Vs. Waconia |
|---|---|---|---|
| Eden Prairie, MN | 64,048 | 121 | 1.1x |
| Minnetonka, MN | 53,809 | 121 | 1.1x |
| Chaska, MN | 27,461 | 110 | 1.0x |
| Prior Lake, MN | 27,242 | 115 | 1.0x |
| Chanhassen, MN | 25,646 | 125 | 1.1x |
| Victoria, MN | 10,361 | 128 | 1.2x |
| Mound, MN | 9,365 | 110 | 1.0x |
| Orono, MN | 8,252 | 157 | 1.4x |
| Minnetrista, MN | 8,215 | 146 | 1.3x |
| Shorewood, MN | 7,779 | 134 | 1.2x |
