Cost of Living in East Gull Lake, MN

With a cost of living index of 118, East Gull Lake, MN is a notably expensive place to live. Living here is 18% more expensive than the national average and 36% above the Minnesota state average of 82. East Gull Lake is a small community of 1,173 residents.

Housing costs are the biggest factor in East Gull Lake's cost of living. The median monthly rent is $1,386 (5% above the US median of $1,319), and the median home value sits at $522,000 (71% above the national median of $304,900). At current prices, the median home costs roughly 4.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in East Gull Lake is $128,548, which is 71% higher than the national median of $75,149. Residents spend roughly 13% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

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.