Home News Study compares Minden’s household expenses to national average

Study compares Minden’s household expenses to national average

A recently released study by doxo INSIGHTS found that people in Minden are paying 16.4% less than the national average on utility bills which include electric, gas, waste, and water and sewer. The study analyzed household spending for 2022 across the United States.

While many of the findings in this report could be expected, a few stand out as unusual. 

Minden residents are paying about the same, on average, as the rest of the nation for auto insurance, life insurance, cable/satellite, and security alarms.

In some categories we came out better than the national average. The average cost of our auto loans is slightly lower than the national average at $393 versus the national average of $433. Our average utilities were $243 compared to the national average of $328. And both mortgage costs and rent costs were significantly lower than the national average: $785 versus national average of $1,368 for mortgages and $745 versus national average of $1,129 for rent.

However, in two categories, Minden residents are paying significantly more than the average American. While the national average for cell phone service is $113 per month, our average is $212 per month. And we are paying, on average, $217 per month for health insurance while the national average is $123.

All together, this study showed that, in Minden, we’re paying about $1,674 per month on household bills compared to the national average of $2,003.