Cost of Living in Shorewood, MN
Population 7,679 · Minnesota · Data vintage 2023
(100 = US avg)
Home prices in Shorewood run well above the national baseline, with a median of $685,000, though local incomes keep the cost-to-earnings ratio tighter than in coastal metros with comparable sticker prices. Median household earnings of $172,325 place the city among the better-paid Minnesota metros.
Geographically, Shorewood sits roughly 15 miles west of Minneapolis. Median home values run roughly 98% higher than Minneapolis' $346,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Shorewood
The median home value in Shorewood is $684,500 — 124% above the national median of $305,000. Median rent runs $2,099/month, 60% higher than the national median of $1,314/month. The median household income of $172,325/year is 131% higher than the US median of $74,580. The local unemployment rate is 4.5%, 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, Shorewood has a cost of living index of 199 versus the US average of 100, meaning it is 99% more expensive.
Shorewood has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 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
Frequently Asked Questions
What is the cost of living in Shorewood, MN?
Shorewood has a cost index of 199 (100 = national average). It is 99% above the national average.
What is average rent in Shorewood, MN?
The median gross rent in Shorewood is $2,099 per month based on 2023 Census data.
What is the average home price in Shorewood?
The median home value in Shorewood is $684,500 according to Zillow and Census data.
What is the median income in Shorewood?
The median household income in Shorewood is $172,325 per year (2023 ACS 5-year estimates).
What is the sales tax in Shorewood, MN?
The combined state and local sales tax rate in Shorewood is 7.4%. The Minnesota state income tax top rate is 9.8%.
Is Shorewood, MN affordable?
Shorewood is above average in cost of living, with an index of 199 — about 99% higher than the national average.
Shorewood at a Glance
- Population
- 7,679
- Median Income
- $172,325
- Home Value
- $684,500
- Median Rent
- $2,099/mo
- Unemployment
- 4.5%
- 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