Cost of Living in Coleraine, MN

With a cost of living index of 76, Coleraine, MN is a very affordable place to live. Living here is 24% cheaper than the national average and 6% below the Minnesota state average of 82. Coleraine is a small community of 1,888 residents.

Housing costs are the biggest factor in Coleraine's cost of living. The median monthly rent is $923 (30% below the US median of $1,319), and the median home value sits at $179,900 (41% below the national median of $304,900). At current prices, the median home costs roughly 2.7x the median household income — well within traditional affordability guidelines.

The median household income in Coleraine is $67,083, which is 11% lower than the national median of $75,149. Residents spend roughly 17% 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.