Cost of Living in Lake City, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
111.4
100 = national avg
+11.4 vs national average
Living Wage (1 Adult)
$49,004
per year
Living Wage (Family of 4)
$115,827
per year
Cost Index by Category
Housing118.1
Food108.2
Transportation99.0
Healthcare106.5
Utilities108.5
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$901
per month
2 Bedroom
$1,095
per month
The overall cost of living index in Lake City is 111.4, which is 11.4% above the national average. Housing costs are above the national average at an index of 118.1. A single adult needs to earn approximately $49,004 per year to cover basic expenses.