Inver Grove Heights, MN vs Monticello, MN

Inver Grove Heights, MN and Monticello, MN have a very similar cost of living, with only a 3.8% difference in their overall index. Inver Grove Heights scores 109 while Monticello scores 105 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 Inver Grove Heights is $1,447/month compared to $1,462/month in Monticello — a 1% difference. Interestingly, home values tell a different story: while Inver Grove Heights has cheaper rent, Monticello actually has lower median home values ($298,400 vs $352,300).

Median household income in Inver Grove Heights is $104,055 compared to $81,563 in Monticello (+27.6%). While Inver Grove Heights is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Inver Grove Heights spend roughly 16.7% of their income on rent, less than the 21.5% in Monticello.

Climate-wise, Inver Grove Heights is notably warmer with an average of 46.5°F compared to 42.9°F in Monticello. Inver Grove Heights receives more rainfall at 29.2" per year compared to 28.5" in Monticello.