Clearwater, MN vs Redwood Falls, MN

There is a significant gap in the cost of living between these two cities. Redwood Falls is 17.1% cheaper than Clearwater. With a cost index of 72 vs 84, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Redwood Falls to Clearwater should plan for substantially higher expenses across most categories.

On the housing front, median rent in Clearwater is $1,074/month compared to $824/month in Redwood Falls — a 30% difference. Home values follow the same pattern: Redwood Falls is more affordable at $162,000 median vs $248,100.

Median household income in Clearwater is $89,219 compared to $61,947 in Redwood Falls (+44%). While Clearwater is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Clearwater spend roughly 14.4% of their income on rent, less than the 16% in Redwood Falls.