Cost of Living in Carlton, MN

With a cost of living index of 75, Carlton, MN is a very affordable place to live. Living here is 25% cheaper than the national average and 7% below the Minnesota state average of 82. Carlton is a small community of 891 residents.

Housing costs are the biggest factor in Carlton's cost of living. The median monthly rent is $914 (31% below the US median of $1,319), and the median home value sits at $205,300 (33% below the national median of $304,900). At current prices, the median home costs roughly 3.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Carlton is $61,944, 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.

Everyday prices in the Duluth, MN-WI (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower 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.