Cost of Living – South Central Minnesota

Minnesota Cost of Living Study Annual Report 2015 — DEED
Economic Development Region 9 – South Central

<a href=”http://fairmontlife.info/wp-content/uploads/2015/09/monthly-cost-of-living.jpg”><img class=”alignleft size-medium wp-image-284″ src=”http://fairmontlife.info/wp-content/uploads/2015/09/monthly-cost-of-living-300×212.jpg” alt=”monthly cost of living” width=”300″ height=”212″ /></a>
<a href=”http://fairmontlife.info/wp-content/uploads/2015/09/hourly-wage.jpg”><img class=”alignleft size-medium wp-image-283″ src=”http://fairmontlife.info/wp-content/uploads/2015/09/hourly-wage-300×232.jpg” alt=”hourly wage” width=”300″ height=”232″ /></a>Annual Costs: $42,120
Hourly Rate: $13.50
In South Central Minnesota, a typical family of two adults and one child, working a combined 60 work hours per week, need to earn an estimated family income of $42,120 per year and $13.50 per hour per worker to maintain a simple living that meets basic needs for health and safety.
The estimated monthly costs are child care $221, food $762, health care $396, housing $730, transportation $940, other necessities $209, and taxes $252.
The median wage paid to workers across all occupations in South Central Minnesota is 115 percent of the cost of living, while the median wage offer for job vacancies is 85 percent of the cost of living.