Cost of Living in Austin, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
94.2
100 = national avg
-5.8 vs national average
Living Wage (1 Adult)
$41,435
per year
Living Wage (Family of 4)
$97,937
per year
Cost Index by Category
Housing88.4
Food100.8
Transportation86.6
Healthcare100.7
Utilities98.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$799
per month
2 Bedroom
$1,049
per month
The overall cost of living index in Austin is 94.2, which is 5.8% below the national average. Housing costs are below the national average at an index of 88.4. A single adult needs to earn approximately $41,435 per year to cover basic expenses.