Carver, MN vs Rice, MN

There is a significant gap in the cost of living between these two cities. Rice is 15.8% cheaper than Carver. With a cost index of 97 vs 112, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Rice to Carver should plan for substantially higher expenses across most categories.

On the housing front, median rent in Carver is $1,347/month compared to $1,529/month in Rice — a 12% difference. Interestingly, home values tell a different story: while Carver has cheaper rent, Rice actually has lower median home values ($237,600 vs $427,600).

Median household income in Carver is $144,408 compared to $103,482 in Rice (+39.5%). While Carver is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Carver spend roughly 11.2% of their income on rent, less than the 17.7% in Rice.