Balaton, MN vs Hendrum, MN

Balaton, MN and Hendrum, MN have a very similar cost of living, with only a 4.6% difference in their overall index. Balaton scores 73 while Hendrum scores 70 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 Balaton is $1,081/month compared to $850/month in Hendrum — a 27% difference. Interestingly, home values tell a different story: while Hendrum has cheaper rent, Balaton actually has lower median home values ($85,000 vs $131,300).

Median household income in Balaton is $54,091 compared to $53,472 in Hendrum (+1.2%). Balaton does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Balaton spend roughly 24% of their income on rent, more than the 19.1% in Hendrum.