Albertville, MN vs Farmington, MN

Albertville, MN and Farmington, MN have a very similar cost of living, with only a 1.7% difference in their overall index. Albertville scores 105 while Farmington scores 103 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Albertville is $1,385/month compared to $1,275/month in Farmington — a 9% difference. Interestingly, home values tell a different story: while Farmington has cheaper rent, Albertville actually has lower median home values ($326,400 vs $345,100).

Median household income in Albertville is $126,307 compared to $118,556 in Farmington (+6.5%). While Albertville is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Albertville spend roughly 13.2% of their income on rent, more than the 12.9% in Farmington.