Cambridge, MN vs Prior Lake, MN

There is a significant gap in the cost of living between these two cities. Cambridge is 21.6% cheaper than Prior Lake. With a cost index of 93 vs 119, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Cambridge to Prior Lake should plan for substantially higher expenses across most categories.

On the housing front, median rent in Cambridge is $1,232/month compared to $1,548/month in Prior Lake — a 20% difference. Home values follow the same pattern: Cambridge is more affordable at $234,800 median vs $429,900.

Median household income in Cambridge is $67,632 compared to $130,278 in Prior Lake (-48.1%). While Prior Lake is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Cambridge spend roughly 21.9% of their income on rent, more than the 14.3% in Prior Lake.