Cost of Living in Big Falls, MN

With a cost of living index of 54, Big Falls, MN is one of the most affordable cities in the country. Living here is 46% cheaper than the national average and 28% below the Minnesota state average of 82. Big Falls is a small community of 157 residents.

Housing costs are the biggest factor in Big Falls's cost of living. The median monthly rent is $550 (58% below the US median of $1,319), and the median home value sits at $48,500 (84% below the national median of $304,900). At current prices, the median home costs roughly 1.9x the median household income — well within traditional affordability guidelines.

The median household income in Big Falls is $26,071, which is 65% lower than the national median of $75,149. Residents spend roughly 25% 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.