Cost of Living in Braham, MN

With a cost of living index of 80, Braham, MN is a very affordable place to live. Living here is 20% cheaper than the national average and 3% below the Minnesota state average of 82. Braham is a small community of 1,674 residents.

Housing costs are the biggest factor in Braham's cost of living. The median monthly rent is $905 (31% below the US median of $1,319), and the median home value sits at $191,600 (37% below the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Braham is $55,417, which is 26% lower than the national median of $75,149. Residents spend roughly 20% 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.

Everyday prices in the Minneapolis-St. Paul-Bloomington, MN-WI (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.