Ham Lake, MN vs Shakopee, MN

Ham Lake, MN and Shakopee, MN have a very similar cost of living, with only a 0.3% difference in their overall index. Ham Lake scores 112 while Shakopee scores 111 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 Ham Lake is $1,319/month compared to $1,495/month in Shakopee — a 12% difference. Interestingly, home values tell a different story: while Ham Lake has cheaper rent, Shakopee actually has lower median home values ($361,400 vs $430,100).

Median household income in Ham Lake is $116,845 compared to $110,989 in Shakopee (+5.3%). While Ham Lake is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Ham Lake spend roughly 13.5% of their income on rent, less than the 16.2% in Shakopee.

Climate-wise, both cities share similar average temperatures (45.8°F vs 46.7°F). Ham Lake receives more rainfall at 30.7" per year compared to 30.6" in Shakopee.