Cost of Living in Credit River, MN

With a cost of living index of 108, Credit River, MN is somewhat more expensive than average. Living here is 8% more expensive than the national average and 26% above the Minnesota state average of 82. Credit River is a smaller community of 5,531 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Credit River's cost of living. The median monthly rent is $890 (33% below the US median of $1,319), and the median home value sits at $577,600 (89% above the national median of $304,900). At current prices, the median home costs roughly 3.9x the median household income — a moderately affordable ratio by today's standards.

The median household income in Credit River is $149,524, which is 99% higher than the national median of $75,149. Residents spend roughly 7% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.