Cost of Living in Alexandria, MN

With a cost of living index of 81, Alexandria, MN is a very affordable place to live. Living here is 19% cheaper than the national average and in line with the Minnesota state average. Alexandria is a smaller community of 14,579 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Alexandria's cost of living. The median monthly rent is $907 (31% below the US median of $1,319), and the median home value sits at $247,200 (19% below the national median of $304,900). At current prices, the median home costs roughly 4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Alexandria is $61,558, which is 18% lower than the national median of $75,149. Residents spend roughly 18% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.