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Cost of Living in Minot

Is it better to rent or buy in Minot? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$80,682
$1,019/mo

Median in area: $1,019

$254,879

Median in area: $254,879

$50,976

If you Rent

🔑
$1,221 /mo
Base Rent$1,019
Est. Utilities$202
% of Income18.2%
Pre-tax Residual$5,503

If you Buy

🏠
$1,791 /mo
P&I (6.5%)$1,289
Taxes & Ins$300
Est. Utilities$202
% of Income26.6%
Pre-tax Residual$4,933

Cost of Living FAQs

Is it cheaper to rent or buy in Minot?›

Based on median housing data, renting is currently more affordable on a monthly basis in Minot. The estimated all-in monthly cost for renting is $1,221, while owning a median-priced home with a 20% down payment is roughly $1,791 per month (a difference of $570).

How much do utilities cost in Minot?›

The average monthly utility cost (electricity and natural gas) for a typical home in Minot is approximately $202. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Minot?›

To comfortably afford the median rent and utilities in Minot without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $48,840 per year.