Cromwell, MN vs Parkers Prairie, MN

Cromwell, MN and Parkers Prairie, MN have a very similar cost of living, with only a 0.9% difference in their overall index. Cromwell scores 68 while Parkers Prairie scores 68 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 Cromwell is $825/month compared to $736/month in Parkers Prairie — a 12% difference. Interestingly, home values tell a different story: while Parkers Prairie has cheaper rent, Cromwell actually has lower median home values ($150,000 vs $152,500).

Median household income in Cromwell is $55,625 compared to $58,750 in Parkers Prairie (-5.3%). While Parkers Prairie is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Cromwell spend roughly 17.8% of their income on rent, more than the 15% in Parkers Prairie.