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The cost of living in Prior Lake, Minnesota is 1% more than the average cost of living in the United States. Cost of living is calculated based on accumulating the cost of food, transportation, health services, rent, utilities, taxes, and miscellaneous.

Prior Lake is an exurban city 20 miles (32 km) southwest of Minneapolis seated next to Savage and Shakopee in Scott County in the state of Minnesota. Surrounding the shores of Lower and Upper Prior Lake, the city lies south of the Minnesota River in an area known as RiverSouth and establishes the urban fringe of the south-southwest portion of Minneapolis-St. Paul, the sixteenth largest metropolitan area in the United States. The population was 27,617 at the 2020 census. Prior Lake was first incorporated...