Alexandria, MN vs Richfield, MN

There is a significant gap in the cost of living between these two cities. Alexandria is 21.2% cheaper than Richfield. With a cost index of 81 vs 103, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Alexandria to Richfield should plan for substantially higher expenses across most categories.

On the housing front, median rent in Alexandria is $907/month compared to $1,334/month in Richfield — a 32% difference. Home values follow the same pattern: Alexandria is more affordable at $247,200 median vs $320,400.

Median household income in Alexandria is $61,558 compared to $84,055 in Richfield (-26.8%). While Richfield is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Alexandria spend roughly 17.7% of their income on rent, less than the 19% in Richfield.