Cost of Living in Shakopee, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
150.6
100 = national avg
+50.6 vs national average
Living Wage (1 Adult)
$66,270
per year
Living Wage (Family of 4)
$156,639
per year
Cost Index by Category
Housing174.1
Food134.8
Transportation117.6
Healthcare127.9
Utilities135.7
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 Shakopee is 150.6, which is 50.6% above the national average. Housing costs are above the national average at an index of 174.1. A single adult needs to earn approximately $66,270 per year to cover basic expenses.