|Cost of living index||108||102||100|
|Goods & Services index||108||106||100|
|Health care index||106||110||100|
- The cost of living in Burnsville is 6% higher than the Minnesota average.
- The cost of living in Burnsville is 8% higher than the national average.
- The cost of housing in Burnsville is 16% higher than the national average.
Goods & Services
Median Income & Debt-To-Income Ratio
|Median Income||Per Year||Per Month||Max Budget (28% DTI)||Max Budget (36% DTI)|
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Burnsville, MN, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Burnsville, MN homeowners have a median income of $78,868. Using that number, you will come up with a maximum of $1,840 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $41,997, which means there is a maximum of $980 to be spent on the costs of renting a home or apartment.
The Geneva Suites