Cost of Living in Shakopee, MN
Population 45,002 · Minnesota · Data vintage 2023
(100 = US avg)
The Shakopee cost-of-living profile is closer to the US median than most headline-grabbing metros — typical homes around $361,000, rents near $1,495 a month.
Located 15 miles southwest of Minneapolis, Shakopee falls within that metro's commuting orbit. Housing prices track closely with Minneapolis' $346,000 median.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Shakopee
The median home value in Shakopee is $361,400 — 18% above the national median of $305,000. Median rent runs $1,495/month, 14% higher than the national median of $1,314/month. The median household income of $110,989/year is 49% higher than the US median of $74,580. The local unemployment rate is 3.6%, below the national average of 4.8%. Minnesota's top state income tax rate is 9.8% and the combined sales tax is 7.4%. Overall, Shakopee has a cost of living index of 117 versus the US average of 100, meaning it is 17% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Shakopee, MN?
Shakopee has a cost index of 117 (100 = national average). It is 17% above the national average.
What is average rent in Shakopee, MN?
The median gross rent in Shakopee is $1,495 per month based on 2023 Census data.
What is the average home price in Shakopee?
The median home value in Shakopee is $361,400 according to Zillow and Census data.
What is the median income in Shakopee?
The median household income in Shakopee is $110,989 per year (2023 ACS 5-year estimates).
What is the sales tax in Shakopee, MN?
The combined state and local sales tax rate in Shakopee is 7.4%. The Minnesota state income tax top rate is 9.8%.
Is Shakopee, MN affordable?
Shakopee is above average in cost of living, with an index of 117 — about 17% higher than the national average.
Shakopee at a Glance
- Population
- 45,002
- Median Income
- $110,989
- Home Value
- $361,400
- Median Rent
- $1,495/mo
- Unemployment
- 3.6%
- Sales Tax
- 7.4%
Nearby Cities
Explore county-level cost of living data
Minnesota Rankings
Similar Cost Cities
Cities in other states with comparable housing costs