Cost of Living in Minnesota
Housing costs, rent, income, and affordability for 908 cities in MN. Updated 2026.
Understanding the cost of living in Minnesota is essential whether you're planning a move, comparing job offers, or evaluating real estate investments. This page breaks down housing costs, rent prices, and median household income for every city in Minnesota, with comparisons to national averages.
Minnesota's average home value of $195,690 is 20% below the national median of $244,900. The average median household income is $71,523, and average monthly rent is $739.
Most Affordable Cities in Minnesota
Cities with population 5,000+ ranked by lowest median home value.
| # | City | Home Value | Rent | Income | Population |
|---|---|---|---|---|---|
| 1 | International Falls | $115,000 | $753/mo | $61,043 | 5,728 |
| 2 | Virginia | $117,500 | $789/mo | $48,321 | 8,362 |
| 3 | Hibbing | $123,900 | $739/mo | $55,463 | 16,100 |
| 4 | Montevideo | $137,600 | $832/mo | $65,724 | 5,303 |
| 5 | Albert Lea | $150,400 | $845/mo | $62,522 | 18,379 |
| 6 | Austin | $155,100 | $860/mo | $66,488 | 26,167 |
| 7 | Crookston | $160,700 | $827/mo | $54,003 | 7,388 |
| 8 | Redwood Falls | $162,000 | $824/mo | $61,947 | 5,075 |
| 9 | Fairmont | $168,800 | $717/mo | $59,228 | 10,348 |
| 10 | Thief River Falls | $169,300 | $884/mo | $65,244 | 8,841 |
| 11 | Fergus Falls | $173,300 | $839/mo | $50,865 | 14,138 |
| 12 | Brainerd | $178,600 | $848/mo | $53,705 | 14,474 |
| 13 | Litchfield | $183,900 | $917/mo | $57,539 | 6,599 |
| 14 | Worthington | $184,200 | $892/mo | $61,840 | 13,792 |
| 15 | Morris | $185,200 | $841/mo | $63,807 | 5,092 |
Most Expensive Cities in Minnesota
| # | City | Home Value | Rent | Income | Population |
|---|---|---|---|---|---|
| 1 | Orono | $952,400 | $1,653/mo | $181,875 | 8,205 |
| 2 | North Oaks | $756,300 | $2,932/mo | $235,858 | 5,175 |
| 3 | Shorewood | $684,500 | $2,099/mo | $172,325 | 7,679 |
| 4 | Medina | $660,800 | $1,421/mo | $219,181 | 6,858 |
| 5 | Minnetrista | $624,600 | $3,501/mo | $156,346 | 8,509 |
| 6 | Edina | $624,000 | $1,757/mo | $129,225 | 53,125 |
| 7 | Lake Elmo | $588,900 | $2,204/mo | $153,407 | 12,504 |
| 8 | Credit River | $577,600 | $890/mo | $149,524 | 5,531 |
| 9 | Victoria | $572,800 | $2,435/mo | $192,821 | 10,972 |
| 10 | Corcoran | $540,100 | $0/mo | $143,250 | 6,854 |
Highest Income Cities in Minnesota
| # | City | Median Income | Home Value | Population |
|---|---|---|---|---|
| 1 | North Oaks | $235,858 | $756,300 | 5,175 |
| 2 | Medina | $219,181 | $660,800 | 6,858 |
| 3 | Victoria | $192,821 | $572,800 | 10,972 |
| 4 | Orono | $181,875 | $952,400 | 8,205 |
| 5 | Shorewood | $172,325 | $684,500 | 7,679 |
| 6 | Rogers | $159,638 | $437,900 | 13,405 |
| 7 | Minnetrista | $156,346 | $624,600 | 8,509 |
| 8 | Lake Elmo | $153,407 | $588,900 | 12,504 |
| 9 | Credit River | $149,524 | $577,600 | 5,531 |
| 10 | Carver | $144,408 | $427,600 | 5,935 |
Cost of Living FAQ — Minnesota
What is the average cost of living in Minnesota?
The average median home value across Minnesota cities is $195,690, with average rent of $739/month. The average median household income is $71,523.
What are the cheapest cities in Minnesota?
The most affordable cities in Minnesota by home value include International Falls ($115,000), Virginia ($117,500), Hibbing ($123,900).
What is the most expensive city in Minnesota?
The most expensive city in Minnesota is Orono with a median home value of $952,400.
How does Minnesota compare to the national average?
Minnesota's average home value of $195,690 is below the national median of $244,900. Median rent of $739/month is below the US average of $1,163.