Floodwood, MN vs Richmond, MN

Floodwood is moderately more affordable than Richmond, with a 12.6% lower cost of living index. Floodwood scores 59 compared to 67 for Richmond, where the US average is 100. This difference means residents of Richmond can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Floodwood is $667/month compared to $584/month in Richmond — a 14% difference. Interestingly, home values tell a different story: while Richmond has cheaper rent, Floodwood actually has lower median home values ($100,000 vs $225,500).

Median household income in Floodwood is $40,972 compared to $67,381 in Richmond (-39.2%). While Richmond is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Floodwood spend roughly 19.5% of their income on rent, more than the 10.4% in Richmond.

Climate-wise, Richmond is notably warmer with an average of 42.9°F compared to 36.9°F in Floodwood. Richmond receives more rainfall at 28.5" per year compared to 24.8" in Floodwood.