Before you decide to relocate to Minnesota, it’s important to research the exact cost of living around the state. And that’s what we’re going to help you do.
These are the places in Minnesota that cost a pretty penny — the most expensive cities in the state.
We used Saturday Night Science to compare the 2018-2022 American Community Survey on cost of living for the 146 places in Minnesota with more than 5,000 people.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Minnesota for 2024.
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Most Expensive Places To Live In Minnesota For 2024
What’s the most expensive place to live in Minnesota? Well, HomeSnacks crunched the numbers and discovered that Orono is the most expensive place to live in Minnesota.
International Falls (the cheapest place to live in Minnesota) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Minnesota and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Minnesota For 2024
/10
Population: 8,223
Cost Of Living Index: 155
Median Income: $173,209
Average Home Price: $1,019,638
Home Price To Income Ratio: 5.9x
More on Orono: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Orono is 155. The median income in Orono comes in at $173,209 and the average home value is $1,019,638 for 2024.
/10
Population: 5,193
Cost Of Living Index: 150
Median Income: $235,714
Average Home Price: $876,362
Home Price To Income Ratio: 3.7x
More on North Oaks: Data | Cost Of Living | Real Estate
The overall cost of living in North Oaks is 150. The median income in North Oaks comes in at $235,714 and the average home value is $876,362 for 2024.
/10
Population: 6,746
Cost Of Living Index: 149
Median Income: $202,153
Average Home Price: $797,015
Home Price To Income Ratio: 3.9x
More on Medina: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Medina is 149. The median income in Medina comes in at $202,153 and the average home value is $797,015 for 2024.
/10
Population: 8,347
Cost Of Living Index: 143
Median Income: $162,474
Average Home Price: $660,620
Home Price To Income Ratio: 4.1x
More on Minnetrista: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Minnetrista is 143. The median income in Minnetrista comes in at $162,474 and the average home value is $660,620 for 2024.
/10
Population: 53,037
Cost Of Living Index: 133
Median Income: $125,506
Average Home Price: $598,918
Home Price To Income Ratio: 4.8x
More on Edina: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Edina is 133. The median income in Edina comes in at $125,506 and the average home value is $598,918 for 2024.
/10
Population: 7,722
Cost Of Living Index: 133
Median Income: $163,525
Average Home Price: $717,403
Home Price To Income Ratio: 4.4x
More on Shorewood: Data | Cost Of Living | Real Estate
The overall cost of living in Shorewood is 133. The median income in Shorewood comes in at $163,525 and the average home value is $717,403 for 2024.
/10
Population: 10,681
Cost Of Living Index: 126
Median Income: $179,515
Average Home Price: $552,013
Home Price To Income Ratio: 3.1x
More on Victoria: Data | Cost Of Living | Real Estate
The overall cost of living in Victoria is 126. The median income in Victoria comes in at $179,515 and the average home value is $552,013 for 2024.
/10
Population: 11,861
Cost Of Living Index: 124
Median Income: $158,269
Average Home Price: $616,212
Home Price To Income Ratio: 3.9x
More on Lake Elmo: Data | Cost Of Living | Real Estate
The overall cost of living in Lake Elmo is 124. The median income in Lake Elmo comes in at $158,269 and the average home value is $616,212 for 2024.
/10
Population: 25,868
Cost Of Living Index: 123
Median Income: $131,633
Average Home Price: $509,790
Home Price To Income Ratio: 3.9x
More on Chanhassen: Data | Cost Of Living | Real Estate
The overall cost of living in Chanhassen is 123. The median income in Chanhassen comes in at $131,633 and the average home value is $509,790 for 2024.
/10
Population: 6,549
Cost Of Living Index: 121
Median Income: $155,385
Average Home Price: $556,085
Home Price To Income Ratio: 3.6x
More on Corcoran: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Corcoran is 121. The median income in Corcoran comes in at $155,385 and the average home value is $556,085 for 2024.
Methodology: How We Determined The Most Expensive Places To Live In The North Star State For 2024
The two most important things to think about when it comes to being able to afford a city in Minnesota are:
- How much money do I make?
- How much do I have to spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing, it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2018-2022 around incomes and costs. They are:
- Overall Cost Of Living Index
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
You can then compare these metrics in each of the places in Minnesota to figure out which is the most expensive.
You are left with a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index to rank all of the 146 places in Minnesota that have more than 5,000 people.
The place with the highest cost of living in Minnesota according to the data is Orono. We updated this article for 2024. This article is our tenth time ranking the most expensive places to live in Minnesota.
Summary: Taking A Chunk Out Of Your Paycheck In Minnesota For 2024
Well, there you have it, the places in Minnesota that have the highest cost of living, with Orono ranking as the most expensive city in the North Star State.
The most expensive cities in Minnesota are Orono, North Oaks, Medina, Minnetrista, Edina, Shorewood, Victoria, Lake Elmo, Chanhassen, and Corcoran.
Here’s a look at the most affordable cities in Minnesota according to the data:
- International Falls
- Thief River Falls
- Crookston
For more Minnesota reading, check out:
- Best Places To Live In Minnesota
- Cheapest Places To Live In Minnesota
- Most Dangerous Cities In Minnesota
- Best Places To Raise A Family In Minnesota
- Safest Places In Minnesota
- Worst Places To Live In Minnesota
Most Expensive Cities In Minnesota
| Rank | City | Cost Of Living | Population | Median Income | Average Home Price | Home/Income Ratio |
|---|---|---|---|---|---|---|
| 1 | Orono | 155 | 8,223 | $173,209 | $1,019,638 | 5.9x |
| 2 | North Oaks | 150 | 5,193 | $235,714 | $876,362 | 3.7x |
| 3 | Medina | 149 | 6,746 | $202,153 | $797,015 | 3.9x |
| 4 | Minnetrista | 143 | 8,347 | $162,474 | $660,620 | 4.1x |
| 5 | Edina | 133 | 53,037 | $125,506 | $598,918 | 4.8x |
| 6 | Shorewood | 133 | 7,722 | $163,525 | $717,403 | 4.4x |
| 7 | Victoria | 126 | 10,681 | $179,515 | $552,013 | 3.1x |
| 8 | Lake Elmo | 124 | 11,861 | $158,269 | $616,212 | 3.9x |
| 9 | Chanhassen | 123 | 25,868 | $131,633 | $509,790 | 3.9x |
| 10 | Corcoran | 121 | 6,549 | $155,385 | $556,085 | 3.6x |
| 11 | Eden Prairie | 120 | 63,623 | $129,345 | $463,961 | 3.6x |
| 12 | Mendota Heights | 119 | 11,642 | $129,800 | $515,905 | 4.0x |
| 13 | Carver | 118 | 5,656 | $125,123 | $477,934 | 3.8x |
| 14 | Plymouth | 117 | 79,918 | $130,131 | $474,202 | 3.6x |
| 15 | Woodbury | 115 | 75,549 | $125,097 | $448,821 | 3.6x |
| 16 | Minnetonka | 115 | 53,529 | $114,867 | $450,534 | 3.9x |
| 17 | Prior Lake | 115 | 27,608 | $129,539 | $492,980 | 3.8x |
| 18 | Arden Hills | 115 | 9,805 | $121,978 | $450,961 | 3.7x |
| 19 | Lakeville | 114 | 70,696 | $129,069 | $465,445 | 3.6x |
| 20 | St. Michael | 113 | 18,648 | $123,318 | $410,822 | 3.3x |
| 21 | Ham Lake | 113 | 16,489 | $112,854 | $463,556 | 4.1x |
| 22 | Rogers | 113 | 13,283 | $154,611 | $441,756 | 2.9x |
| 23 | Maple Grove | 112 | 70,110 | $127,001 | $397,985 | 3.1x |
| 24 | Savage | 112 | 32,441 | $123,069 | $412,196 | 3.3x |
| 25 | Golden Valley | 112 | 22,142 | $110,026 | $409,489 | 3.7x |
| 26 | Hugo | 112 | 15,831 | $110,160 | $413,867 | 3.8x |
| 27 | Andover | 111 | 32,639 | $123,054 | $415,283 | 3.4x |
| 28 | Mahtomedi | 111 | 8,073 | $126,579 | $460,576 | 3.6x |
| 29 | Falcon Heights | 111 | 5,232 | $87,750 | $391,737 | 4.5x |
| 30 | Ramsey | 110 | 27,774 | $110,212 | $362,266 | 3.3x |
| 31 | Chaska | 110 | 27,764 | $99,988 | $441,075 | 4.4x |
| 32 | Shoreview | 110 | 26,846 | $106,153 | $391,526 | 3.7x |
| 33 | Lino Lakes | 110 | 21,525 | $120,745 | $422,847 | 3.5x |
| 34 | Waconia | 110 | 12,993 | $101,619 | $436,466 | 4.3x |
| 35 | Oak Grove | 110 | 8,956 | $118,871 | $431,853 | 3.6x |
| 36 | Eagan | 109 | 68,262 | $104,101 | $385,125 | 3.7x |
| 37 | St. Louis Park | 109 | 49,500 | $94,263 | $364,388 | 3.9x |
| 38 | Shakopee | 109 | 44,135 | $103,924 | $378,683 | 3.6x |
| 39 | East Bethel | 109 | 11,901 | $116,453 | $378,957 | 3.3x |
| 40 | Burnsville | 108 | 64,075 | $85,801 | $356,837 | 4.2x |
| 41 | Rosemount | 108 | 25,993 | $127,252 | $408,304 | 3.2x |
| 42 | Hermantown | 108 | 10,135 | $85,417 | $383,661 | 4.5x |
| 43 | St. Anthony | 108 | 9,332 | $91,955 | $377,784 | 4.1x |
| 44 | Cottage Grove | 107 | 39,274 | $117,673 | $368,093 | 3.1x |
| 45 | Mound | 107 | 9,272 | $89,855 | $360,628 | 4.0x |
| 46 | Apple Valley | 106 | 55,594 | $97,588 | $363,468 | 3.7x |
| 47 | Roseville | 106 | 36,066 | $87,702 | $350,177 | 4.0x |
| 48 | New Brighton | 106 | 23,141 | $84,707 | $362,922 | 4.3x |
| 49 | Forest Lake | 106 | 20,553 | $91,157 | $387,584 | 4.3x |
| 50 | Stillwater | 106 | 19,316 | $107,986 | $417,520 | 3.9x |
| 51 | Hopkins | 106 | 18,752 | $70,058 | $317,062 | 4.5x |
| 52 | Buffalo | 106 | 16,288 | $81,868 | $354,423 | 4.3x |
| 53 | Baxter | 106 | 8,668 | $67,064 | $334,916 | 5.0x |
| 54 | Dayton | 106 | 7,745 | $138,654 | $473,645 | 3.4x |
| 55 | Jordan | 106 | 6,648 | $111,290 | $421,455 | 3.8x |
| 56 | Delano | 106 | 6,539 | $105,766 | $415,697 | 3.9x |
| 57 | Bloomington | 105 | 89,244 | $87,381 | $347,523 | 4.0x |
| 58 | Blaine | 105 | 70,047 | $100,659 | $354,091 | 3.5x |
| 59 | Oakdale | 105 | 28,029 | $86,003 | $329,457 | 3.8x |
| 60 | Elk River | 105 | 25,936 | $95,597 | $377,388 | 3.9x |
| 61 | Farmington | 105 | 23,487 | $114,737 | $373,537 | 3.3x |
| 62 | Sartell | 105 | 19,382 | $74,177 | $315,131 | 4.2x |
| 63 | Minneapolis | 104 | 426,877 | $76,332 | $318,812 | 4.2x |
| 64 | Inver Grove Heights | 104 | 35,673 | $98,719 | $349,482 | 3.5x |
| 65 | White Bear Lake | 104 | 24,317 | $79,699 | $332,323 | 4.2x |
| 66 | Champlin | 104 | 23,666 | $113,570 | $347,903 | 3.1x |
| 67 | Otsego | 104 | 20,455 | $122,420 | $395,838 | 3.2x |
| 68 | Maplewood | 103 | 41,405 | $86,769 | $320,605 | 3.7x |
| 69 | Little Canada | 103 | 10,624 | $69,673 | $351,425 | 5.0x |
| 70 | New Prague | 103 | 8,155 | $101,579 | $326,107 | 3.2x |
| 71 | Wyoming | 103 | 8,037 | $99,821 | $379,394 | 3.8x |
| 72 | Albertville | 103 | 7,883 | $107,316 | $357,047 | 3.3x |
| 73 | Brooklyn Park | 102 | 84,951 | $82,271 | $327,075 | 4.0x |
| 74 | Coon Rapids | 102 | 63,296 | $85,445 | $310,442 | 3.6x |
| 75 | Richfield | 102 | 36,809 | $80,712 | $327,416 | 4.1x |
| 76 | Monticello | 102 | 14,447 | $80,290 | $310,024 | 3.9x |
| 77 | Alexandria | 102 | 14,400 | $57,309 | $257,770 | 4.5x |
| 78 | Robbinsdale | 101 | 14,452 | $80,125 | $296,059 | 3.7x |
| 79 | Vadnais Heights | 101 | 12,864 | $89,632 | $354,501 | 4.0x |
| 80 | St. Francis | 101 | 8,198 | $98,390 | $325,664 | 3.3x |
| 81 | Zimmerman | 101 | 6,243 | $79,720 | $305,646 | 3.8x |
| 82 | Chisago City | 101 | 5,576 | $92,278 | $414,242 | 4.5x |
| 83 | Crystal | 100 | 22,954 | $86,288 | $296,320 | 3.4x |
| 84 | Mounds View | 100 | 13,100 | $89,358 | $322,091 | 3.6x |
| 85 | North St. Paul | 100 | 12,465 | $77,475 | $304,655 | 3.9x |
| 86 | Big Lake | 100 | 11,857 | $100,188 | $351,813 | 3.5x |
| 87 | La Crescent | 100 | 5,352 | $70,813 | $309,576 | 4.4x |
| 88 | St. Paul | 99 | 308,806 | $69,919 | $278,672 | 4.0x |
| 89 | Northfield | 99 | 20,518 | $83,125 | $358,052 | 4.3x |
| 90 | Hutchinson | 99 | 14,588 | $64,635 | $275,891 | 4.3x |
| 91 | Sauk Rapids | 99 | 13,830 | $66,442 | $275,189 | 4.1x |
| 92 | Waite Park | 99 | 8,290 | $52,391 | $229,447 | 4.4x |
| 93 | Spring Lake Park | 99 | 6,966 | $74,697 | $299,120 | 4.0x |
| 94 | St. Cloud | 98 | 68,910 | $58,910 | $233,113 | 4.0x |
| 95 | Hastings | 98 | 22,063 | $87,722 | $313,784 | 3.6x |
| 96 | Willmar | 98 | 21,006 | $59,132 | $219,141 | 3.7x |
| 97 | West St. Paul | 98 | 20,820 | $68,359 | $296,144 | 4.3x |
| 98 | Anoka | 98 | 17,892 | $73,118 | $308,373 | 4.2x |
| 99 | Grand Rapids | 98 | 11,158 | $53,317 | $234,222 | 4.4x |
| 100 | North Branch | 98 | 10,968 | $94,564 | $332,334 | 3.5x |