Alexandria, MN vs Lake City, MN

Alexandria, MN and Lake City, MN have a very similar cost of living, with only a 1.6% difference in their overall index. Alexandria scores 81 while Lake City scores 83 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Alexandria is $907/month compared to $1,022/month in Lake City — a 11% difference. Interestingly, home values tell a different story: while Alexandria has cheaper rent, Lake City actually has lower median home values ($234,100 vs $247,200).

Median household income in Alexandria is $61,558 compared to $76,125 in Lake City (-19.1%). While Lake City is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Alexandria spend roughly 17.7% of their income on rent, more than the 16.1% in Lake City.