Cost of Living in Centerville, MN

With a cost of living index of 110, Centerville, MN is somewhat more expensive than average. Living here is 10% more expensive than the national average and 28% above the Minnesota state average of 82. Centerville is a small community of 3,915 residents.

Housing costs are the biggest factor in Centerville's cost of living. The median monthly rent is $1,453 (10% above the US median of $1,319), and the median home value sits at $364,700 (20% above the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Centerville is $119,361, which is 59% higher than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

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.