Cost of Living in Montgomery, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
109.3
100 = national avg
+9.3 vs national average
Living Wage (1 Adult)
$48,098
per year
Living Wage (Family of 4)
$113,686
per year
Cost Index by Category
Housing109.4
Food106.6
Transportation113.1
Healthcare105.3
Utilities105.8
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$822
per month
2 Bedroom
$1,078
per month
The overall cost of living index in Montgomery is 109.3, which is 9.3% above the national average. Housing costs are above the national average at an index of 109.4. A single adult needs to earn approximately $48,098 per year to cover basic expenses.