Cost of Living in Hoffman, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
78.4
100 = national avg
-21.6 vs national average
Living Wage (1 Adult)
$34,478
per year
Living Wage (Family of 4)
$81,493
per year
Cost Index by Category
Housing75.4
Food85.9
Transportation71.8
Healthcare88.7
Utilities86.6
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$742
per month
2 Bedroom
$973
per month
The overall cost of living index in Hoffman is 78.4, which is 21.6% below the national average. Housing costs are below the national average at an index of 75.4. A single adult needs to earn approximately $34,478 per year to cover basic expenses.