Elbow Lake, MN vs New Waterford, OH: Cost of Living

Which city costs less?

New Waterford, OH has a modeled overall cost index 14.5% higher than Elbow Lake, MN.

Elbow Lake, MN · modeled 2BR rent
$1,090 / month
New Waterford, OH · modeled 2BR rent
$1,040 / month

These are saved estimates, not current rental listings. Some cities use adjusted regional data. Your household budget can differ from the overall index. Sources and assumptions

Adjust your income and compare the budget ↓
Tap to swap

Cost of Living Comparison 2026

Compare Elbow Lake, MN and New Waterford, OH using saved regional data and explicit budgeting assumptions. Rent estimates are not live listings. Change the salary below, then check the source notes before applying a result to your household.

Saved regional estimates · Sources and assumptions

$
Numbers update automatically as you type

Estimated extra cost: $823/month in New Waterford, OH

$150,000 in your current city has a modeled equivalent of $159,876 in New Waterford, OH

Regional cost estimates: Elbow Lake, MN uses Minneapolis, MN. New Waterford, OH uses Pittsburgh, PA. Available city ZIP rent estimates are shown separately.
Overall Cost
↑ 14.5%
More expensive
Monthly Impact
$823
Extra cost
Annual Impact
$9.9K
Per year

Assumes 60% of current gross income goes to living costs. The headline uses the category budget below; taxes, moving costs and savings goals are excluded.

Elbow Lake, MN

Population:1K
Cost Index:
69.7
100 = national average
Typical Home:$196K

New Waterford, OH

Population:1K
Cost Index:
79.8
100 = national average
Typical Home:$190K

Planning the move to New Waterford?

Organize packing, address changes, and moving-day tasks with a free checklist. Your progress saves in this browser. No account needed.

Plan my move with the free checklist

Elbow Lake, MN

The North Star State

1K
Population
State Tax
Yes

Located in Minnesota, this city has a population of 1K residents.

New Waterford, OH

The Buckeye State

1K
Population
State Tax
Yes

Located in Ohio, this city has a population of 1K residents.

Cost Breakdown by Category

Estimated monthly spending: Elbow Lake, MN vs New Waterford, OH

Assumes 60% of your current gross income is spent on these categories. The headline and totals use this same budget. Rent estimates below are separate reference data. Rounded amounts may differ by $1.

Other
↑ 25.8%
Elbow Lake, MN
$1,559
New Waterford, OH
$1,962
Difference
$402
more
Transportation
↑ 22.4%
Elbow Lake, MN
$1,212
New Waterford, OH
$1,484
Difference
$272
more
All Utilities
↑ 40.7%
Elbow Lake, MN
$556
New Waterford, OH
$782
Difference
$226
more
Groceries
↑ 13.3%
Elbow Lake, MN
$1,126
New Waterford, OH
$1,275
Difference
$150
more
Healthcare
↓ 17.9%
Elbow Lake, MN
$827
New Waterford, OH
$679
Difference
$148
less
Housing
↓ 3.5%
Elbow Lake, MN
$2,220
New Waterford, OH
$2,141
Difference
$78.56
less

🏠Rent Comparison

Studio
From$750
To$740
↓ $10.00
1 Bed
From$830
To$830
→ $0
2 Bed
From$1,090
To$1,040
↓ $50.00
3 Bed
From$1,520
To$1,300
↓ $220
Elbow Lake, MNZIP-level data

1BR range: $830–$830/mo

New Waterford, OHZIP-level data

1BR range: $830–$830/mo

💡 Note: HUD Fair Market Rents estimate 40th-percentile gross rents, including most tenant-paid utilities. City ZIP summaries are medians of those estimates, not market median rents. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,500
Monthly in Elbow Lake, MN
$8,323
Monthly in New Waterford, OH
$823
Difference

Home Values

Elbow Lake
New Waterford
$196K
Median Value
$190K
↑ +5.2%
YoY Change
↑ +1%
↑ +39.4%
5-Year Change
↑ +27.1%

Homes in New Waterford are 3% less expensive than Elbow Lake

Calculate payment - Elbow LakeCalculate payment - New Waterford

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings
↑ $6.0K
Per year
Monthly Difference
$500
More take-home
Effective Rate Diff
4.0%
Rate difference

Elbow Lake, MN

Federal Income Tax
Effective: 18.9%
$25.5K
Minnesota State Tax
Effective: 7.0%
$10.4K
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 31.6%
$47.4K
Take-Home Pay
$8,546/month
$102.6K

New Waterford, OH

Federal Income Tax
Effective: 18.9%
$25.5K
Ohio State Tax
Effective: 3.0%
$4.4K
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 27.6%
$41.4K
Take-Home Pay
$9,047/month
$108.6K

Additional Tax Information

Elbow Lake, MN Tax Rates

Sales Tax:8.0%
Property Tax:1.1%

New Waterford, OH Tax Rates

Sales Tax:7.2%
Property Tax:1.6%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.

Environment

Elbow Lake
New Waterford
42 Good
Air Quality
52 Moderate
66.4%
Good Air Days
47.8%
98 High
Climate Risk
98 High
🌊🌡🌪
Top Hazards
🌊🌪💨
▲+3.6°F
2050 Outlook
▲+3.0°F
14 days
Heat Days >95°F
12 days
▲+3.6°F
2050 Outlook
▲+3.0°F
14 days
Heat Days >95°F
12 days

Before moving from Elbow Lake, MN to New Waterford, OH

Use this comparison to shortlist a move, then check the costs that depend on your household.

  1. Compare actual homes. Get current quotes in New Waterford, OH for the same bedroom count and included utilities as your home in Elbow Lake, MN. Add parking, deposits, insurance and any overlapping leases. The rent estimates above are a starting point, not available listings.
  2. Confirm your income. Check your expected pay with your employer, including any location adjustment. Use “Different salary at destination?” above to compare two incomes. The budget model excludes taxes and one-time moving costs; it is not a take-home-pay calculation.
  3. Price your daily routine. Check the commute from a specific address to work, school or childcare. Add household expenses missing from this model, such as childcare, debt payments and medical needs. Verify local services before signing a lease.
  4. Plan the transition. Get moving quotes and budget for travel, setup costs and time off. Open your Elbow Lake to New Waterford moving checklist to organize the tasks and timing.

Still choosing a destination? Explore cities similar to New Waterford, OH by cost, housing, population and region.

Frequently Asked Questions: Elbow Lake, MN vs New Waterford, OH

How do the cost estimates for Elbow Lake, MN and New Waterford, OH compare?

New Waterford, OH has a modeled overall cost index 14.5% higher than Elbow Lake, MN. This is a broad model comparison, not a survey of today's prices or a forecast of your household spending. Some cities use adjusted regional fallback data.

What does the equivalent salary mean?

At a $150,000 salary in Elbow Lake, MN, the model estimates $159,876 in New Waterford, OH. It allocates 60% of gross income to the origin city’s category budget and applies each destination category’s relative cost. The equivalent salary adds the total category difference to your income. The monthly difference is the same category difference divided by 12; it is not take-home pay or guaranteed savings. Household size, childcare and your actual lease are not inputs to this calculation.

What rent estimates are available for Elbow Lake, MN and New Waterford, OH?

The modeled two-bedroom rents are $1,090/month in Elbow Lake, MN and $1,040/month in New Waterford, OH. Where available, the source is a city median of HUD FY2026 ZIP-level estimates; otherwise a saved metro table is used. City adjustments may also apply. These are not asking rents or available listings. Compare actual properties with the same bedroom count and included utilities.

How should I use this comparison before moving?

Use it to shortlist locations, then replace modeled costs with a current housing quote, employer-confirmed income, commute costs, insurance and your household's other expenses. Add one-time moving costs separately. Source years differ and the saved datasets are not a live price feed. Read the methodology for the formulas and fallback rules.

💰 See how taxes change too — compare take-home pay between Minnesota and Ohio on TaxTakeHome.com

Similar cost to New Waterford, OH

Other cities in a similar price range

Indianapolis, INColumbus, OHKansas City, MO

Want to compare different cities?

New Comparison