Housing costs in Cloquet?
A typical home costs
$211,300, which is 37.5% less expensive than the national average of
$338,100 and 31.7% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Cloquet costs
$1,110 per month, which is 10.5% cheaper than the national average of
$1,240 and 2.7% more than the state average of
$1,080.
Can I afford Cloquet?
To live comfortably in Cloquet (zip 55720), Minnesota, a minimum annual income of
$40,320 for a family, and
$34,400 for a single person is recommended.
What does A.I. say about Cloquet?
The cost of living in 55720 Cloquet, MN is relatively affordable compared to other parts of the country. According to the Cost of Living Index, Cloquet's index score is 87.4, which is 13.6% lower than the national average. This means that basic expenses such as groceries, housing costs, utilities, and transportation tend to be much more affordable than in other areas of the U.S. In addition, taxes are comparatively moderate here; residents pay an average of 6.87% in state income tax and 6.875% in sales tax. Overall, 55720 Cloquet provides a reasonable cost of living for those looking for an affordable place to call home.