Cost of Living in Cokato, MN

With a cost of living index of 82, Cokato, MN is a very affordable place to live. Living here is 18% cheaper than the national average and in line with the Minnesota state average. Cokato is a small community of 2,780 residents.

Housing costs are the biggest factor in Cokato's cost of living. The median monthly rent is $926 (30% below the US median of $1,319), and the median home value sits at $216,100 (29% below the national median of $304,900). At current prices, the median home costs roughly 3x the median household income — well within traditional affordability guidelines.

The median household income in Cokato is $71,090, which is 5% lower than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Minneapolis-St. Paul-Bloomington, MN-WI (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.