Cost of Living in Hastings
Hastings' cost of living pairs a real, disclosed housing-price spread against a genuinely favorable, below-median Dakota County property tax rate.
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Learn moreA real, disclosed home-value spread, roughly at Minnesota's statewide level
Zillow's average home value ran $388,896 (+3.4% YoY, updated June 30, 2026), while a separately reported seasonally adjusted typical value ran $311,425, and a median sale price figure ran approximately $337,000 -- every figure at or above Minnesota's own statewide typical value (approximately $331,895).
A below-national-median property tax rate
Dakota County's own effective property tax rate (most commonly cited at 0.98%-1.00%, though one source cites a higher 1.09%) runs at or below the 1.02% national median -- one source calls it the lowest of the seven-county Twin Cities metro. Dakota County's 2026 proposed property taxes still project a real 9.5% year-over-year countywide increase.
Above-median household income
Hastings' median household income ran a real, disclosed approximately $93,124 (2024 estimate), above the Minnesota statewide median.
Minnesota's income tax and Social Security taxation apply regardless
Minnesota's real, progressive 4-bracket state income tax (5.35%-9.85%) applies statewide, including in Hastings, with no local piggyback layer -- and Minnesota still taxes Social Security above an income-based exemption threshold ($86,410 single/HOH, 2026), a particularly relevant, disclosed cost given Hastings' above-average senior population.
Key takeaways
- Home values carry a real, disclosed spread ($311,425-$388,896), roughly at or above Minnesota's statewide typical value.
- Dakota County's effective property tax rate (0.98%-1.00% most commonly cited) runs at or below the national median.
- Median household income (~$93,124) runs above the Minnesota statewide median.
- Minnesota's Social Security taxation above a threshold is a particularly relevant cost given Hastings' senior population.
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