Albert Lea, MN vs Richfield, MN

The cost of living difference between Albert Lea, MN and Richfield, MN is dramatic. Albert Lea is 30.7% cheaper than Richfield, a gap that translates to thousands of dollars per year in household expenses. Albert Lea has a cost index of 72 while Richfield sits at 103, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Albert Lea is $845/month compared to $1,334/month in Richfield — a 37% difference. Home values follow the same pattern: Albert Lea is more affordable at $150,400 median vs $320,400.

Median household income in Albert Lea is $62,522 compared to $84,055 in Richfield (-25.6%). The higher salaries in Richfield partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Albert Lea spend roughly 16.2% of their income on rent, less than the 19% in Richfield.