Cost of Living in Independence, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
291.0
100 = national avg
+191.0 vs national average
Living Wage (1 Adult)
$128,046
per year
Living Wage (Family of 4)
$302,654
per year
Cost Index by Category
Housing383.7
Food198.4
Transportation296.9
Healthcare178.7
Utilities200.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,405
per month
2 Bedroom
$1,709
per month
The overall cost of living index in Independence is 291.0, which is 191.0% above the national average. Housing costs are above the national average at an index of 383.7. A single adult needs to earn approximately $128,046 per year to cover basic expenses.