Cost of living answer

Cost of Living in Ham Lake, MN

Cost of Living in Ham Lake, MN has an overall index of 128, 28% above the U.S. baseline of 100. The typical home value is $502,915 (Zillow ZHVI, Aug 2026); typical monthly rent is $1,734 (HUD FY2027 2-bedroom FMR, Anoka County FMR area); and median household income is $120,135 (Census ACS 2024).

Cost index: committed city housing/rent inputs and BEA 2024 metro-area price parities. Home value: Zillow ZHVI market signal as of 2026-08. Rent: HUD FY2027 2-bedroom FMR (40th-percentile recent-mover gross rent), Anoka County FMR area. A place-level signal, not a personal affordability decision or financial recommendation.

Check your household fit Compare Ham Lake

Cost vs U.S.28% aboveModeled index 128 · Zillow Aug 2026 / HUD FY2027 2-bedroom FMR / ACS 2024 / BEA 2024

Typical rent$1,734/moHUD FY2027 2-bedroom FMR · Anoka County FMR area

Typical home value$502,915Zillow ZHVI · Aug 2026

Median household income$120,135Census ACS · 2024 place estimate

Market PressureHigh

Housing costs sit well above the national baseline. This describes the local market, not your household.

Rent pressure

17%

Typical annual rent divided by local median household income.

Buy pressure

4.2x

Typical home value divided by local median household income.

Common questions

What living in Ham Lake costs, and what the data does and does not explain.

Four questions readers ask most, answered from the committed sources below. Every figure keeps its source, vintage, and limitation; none of it is personal financial advice.

Cost outside housing

How do non-housing costs here compare with the nation?

Day-to-day non-housing costs here sit close to the U.S. baseline.

Non-housing index102100 = U.S. baseline

Goods10320% weight

Services10420% weight

Utilities9310% weight

The index weights goods 103 (20%), services 104 (20%), and utilities 93 (10%) over the non-housing half of the model, where utilities show the widest gap below the national baseline at 93. It excludes rent and home prices, so it is not the overall Regional Price Parity and not the overall cost index. Source: BEA 2024 metropolitan-area price parities.

Housing vs state and nation

Is housing here above or below the state and the country?

Typical home value$502,915Zillow ZHVI

Typical rent$1,734/moHUD FMR

The typical home value is $502,915 (Zillow ZHVI, Aug 2026). It is 39% above the $361,955 median across Minnesota cities in this dataset, and 66% above the committed $303,400 U.S. baseline used site-wide (Census ACS 2019–2023).

The typical monthly rent is $1,734 (HUD FY2027 2-bedroom FMR, Anoka County FMR area (40th-percentile recent-mover gross rent)). It is 5% above the $1,645 median across Minnesota cities in this dataset, and 29% above the committed $1,348 U.S. baseline used site-wide (Census ACS 2019–2023).

The Minnesota median is a cross-city statistic over the 152 committed city home values and 151 committed city rents (Zillow Aug 2026, HUD FY2027, or Census ACS 2024 as matched per place). It is not a statewide household median and it is not appraised market data. U.S. baselines are Census ACS 2019–2023 5-Year national medians used across this site ($303,400 home value; $1,348 monthly gross rent), and have not been refreshed to the ACS 2024 city vintage or the Zillow Aug 2026 vintage. Any city-to-national gap therefore mixes vintages.

Why the numbers look like this

Which local signals explain the difference?

The committed figures split: vacancy rate and rent-to-income ratio do not point the same way relative to their baselines (higher ratios and lower vacancy count as one direction, and their opposites as the other). Mixed signals are common and are not a verdict.

Rent-to-income ratioBelow baseline
17% · Typical rent equals about 17% of local median household income (HUD FY2027 2-bedroom FMR Anoka County FMR area rent × 12 ÷ Census ACS 2024 median household income). These are two place-level aggregates, not a measured household or renter burden. The Census ACS 2019–2023 5-Year national medians imply 21%.
Baseline: 21% implied by Census ACS 2019–2023 5-Year national medians
Price-to-income ratioNear baseline
4.2x · The typical home value is 4.2 times local median household income (Zillow ZHVI Aug 2026 home value ÷ Census ACS 2024 median household income). This is a place-level ratio, not an individual affordability test. The Census ACS 2019–2023 5-Year national medians imply 3.9x.
Baseline: 3.9x implied by Census ACS 2019–2023 5-Year national medians
Vacancy rateBelow baseline
1.1% · 1.1% of all housing units here are reported vacant in Census ACS 2024. That counts every vacant unit, including seasonal, occasional-use, and other vacant homes, and it is not current for-sale or for-rent inventory. The population-weighted mean across the committed city dataset is about 8%.
Baseline: about 8% committed city-sample mean
Owner shareAbove baseline
93.7% · 93.7% of occupied units are owner-occupied in Census ACS 2024, against a committed national owner-occupied share of 64.6% (Census ACS 2019–2023 5-Year national medians). This describes tenure mix — more owners usually means a smaller rental stock, not by itself higher or lower pressure.
Baseline: 64.6% committed national owner-occupied share

These are associations inside one committed snapshot, not causal evidence. The dataset has no current listings, pending sales, sale timelines, or construction, migration, income-growth, and unit-mix fields, so nothing here proves or disproves a housing shortage: a low vacancy rate or a high rent-to-income ratio can have several explanations. Treat the figures as context for your own search, not as a cause.

Monthly budget by household size

What might a family of five spend per month here?

Estimated monthly cost for a household of five in Ham Lake: $7,156, of which $1,734 is the exact typical rent and $5,422 is modeled non-housing spending. Everyday non-housing costs here are close to the U.S. baseline.

For five people the estimate is housing $1,734 + non-housing $5,422 = $7,156 per month, or about $1,431 per person before taxes and debt.

Estimated monthly cost, before income tax, debt payments, and savings
Household size	Housing (typical rent)	Non-housing	Estimated total	Per person
1 person	$1,734	$1,758	$3,492	$3,492
2 people	$1,734	$2,855	$4,589	$2,295
3 people	$1,734	$3,792	$5,526	$1,842
4 people	$1,734	$4,638	$6,372	$1,593
5 people (example)	$1,734	$5,422	$7,156	$1,431
6 people	$1,734	$6,161	$7,895	$1,316

Formula: Monthly estimate = housing base + ($3,272 × (household size ÷ 2.5)^0.7 × (non-housing index ÷ 100)). The housing base is this city's exact typical monthly rent; $3,272 is the Census ACS 2019–2023 5-Year national medians median household income ÷ 12 × the model's 50% non-housing basket share.

Inputs: housing base $1,734 (HUD FY2027 2-bedroom FMR, Anoka County FMR area); non-housing index 102 (BEA goods/services/utilities); national median household income $78,538 (Census ACS 2019–2023 5-Year national medians).

Assumptions and limitations behind this table

Model assumptions

The Census ACS 2019–2023 5-Year national medians median household income is treated as a 2.5-person reference household whose non-housing share of the basket is 50% (goods 20% + services 20% + utilities 10%).
Household size is scaled with an economy-of-scale exponent of 0.7. That exponent is a modeling assumption, not a measured equivalence scale.
Housing is held at the same exact typical rent for every household size. Larger households often rent larger units, which this estimate does not model.
The non-housing index is applied as a price level only; it does not change how much a household consumes.

Limitations

This is a modeled planning estimate, not a measured household budget, a quote, or personal financial advice.
It excludes income tax, sales tax, property tax, debt payments (including student loans and car payments), retirement saving, and one-time moving costs.
Zillow, HUD FMR (a 2-bedroom program benchmark for the 40th-percentile recent-mover gross rent, not a market median), and Census values are place- or area-level estimates with sampling error and top-coding, not exact local prices.
BEA price parities are metro-area values, or one national nonmetropolitan proxy shared by every unmatched place — never city- or state-specific.
The income baseline is one committed national value (Census ACS 2019–2023 5-Year national medians) and does not vary by city or by household composition (adults versus children).

Housing and rent: Zillow ZHVI Aug 2026 home value; HUD FY2027 2-bedroom FMR, Anoka County FMR area rent. Top-coded ACS values stay thresholds, never exact medians. Non-housing: BEA 2024 goods, services, and utilities price parities (metro-area match). Why: rent HUD FY2027 2-bedroom FMR, Anoka County FMR area, home value Zillow ZHVI Aug 2026, plus Census ACS 2024 income, vacancy, and owner-occupancy fields. National baselines: Census ACS 2019–2023 5-Year national medians (not refreshed to ACS 2024 or Zillow Aug 2026), so city-to-national gaps mix vintages. Budget: modeled from the committed national median household income and this city's exact rent and BEA non-housing index; assumptions and exclusions are listed with the table. Budget is not produced when rent is top-coded.

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City details

Inspect the numbers when you need them.

Overall cost index128100 = U.S. baseline

Goods1033% above baseline

Services1044% above baseline

Utilities937% below baseline

Alternatives worth comparing

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Recommendations require usable housing and income data and exclude very small places for a city of this scale.

Prior Lake, MNSimilar population scale · Similar regional cost contextRent burden18%Home / income3.9x Compare

Minnetonka, MNSimilar regional cost context · Same-state comparisonRent burden18%Home / income4.1x Compare

Shoreview, MNLower home-price pressure · Similar population scaleRent burden21%Home / income3.8x Compare

Chanhassen, MNSimilar population scale · Same-state comparisonRent burden19%Home / income3.9x Compare

Eden Prairie, MNSimilar regional cost context · Same-state comparisonRent burden17%Home / income3.8x Compare

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Frequently asked questions about Ham Lake

Mortgage benchmark baseline 2026-09-24 is past its weekly update cadence; a newer official vintage exists but is not reflected.

Living in Ham Lake

Is Ham Lake, MN an expensive place to live?+

Yes — Ham Lake is about 28% more expensive than the national average, with an overall Cost Index of 128. Housing is the biggest factor: the typical home here is valued around $502,915, and monthly rents average roughly $1,734. Day-to-day costs like groceries and utilities tend to run closer to the national norm.

How does Ham Lake fit a household housing budget?+

Start with housing. Typical monthly rent is $1,734, while local median household income is $120,135. That implies a rent-burden proxy of about 17% of income. This HUD gross rent already includes tenant-paid utilities; other living costs are not included. Use that as a planning signal for whether the place looks manageable under your own household assumptions.

How much are taxes in Ham Lake, MN?+

Minnesota uses a progressive model; 9.85% is top marginal-rate context. Applying the 1% state-level effective owner-occupied proxy to a home worth $502,915 gives a planning estimate near $5,029 per year; it is not a city, county, parcel, or individual tax bill. State plus average local sales-tax context is around 8.14%.

How much does it cost to rent in Ham Lake, MN?+

The typical monthly rent in Ham Lake is around $1,734. That's about 29% higher than the $1,348 national median. For comparison, the median home value here is $502,915, so buyers should also factor in mortgage payments, property taxes, and insurance.

How much does a house cost in Ham Lake, MN?+

The typical home value in Ham Lake is $502,915. With 20% down and the committed 7.03% national 30-year fixed benchmark as of 2026-09-24, principal and interest are roughly $2,685/month before property tax and insurance. This is a planning estimate, not a local lender quote. Baseline is past its weekly update cadence; a newer official vintage exists but is not reflected. About 94% of residents here own their homes.

Are groceries and utilities expensive in Ham Lake?+

Grocery prices in Ham Lake are about average compared to the rest of the US (index: 103, where 100 is the national average). Utility bills (electricity, gas, water) are about typical (index: 93). Overall, these everyday costs shouldn't cause major surprises if you're moving from another similarly-sized US city.

What is Ham Lake, MN like to live in?+

Ham Lake is a small town with a population of about 16,702. The median age of residents is 43.8, skewing somewhat older — common in established suburban communities. The local poverty rate is 4%, well below the national average of 12.4%.