Cost of Living in Federal Dam, MN

With a cost of living index of 79, Federal Dam, MN is a very affordable place to live. Living here is 21% cheaper than the national average and 3% below the Minnesota state average of 82. Federal Dam is a small community of 147 residents.

Housing costs are the biggest factor in Federal Dam's cost of living. The median monthly rent is $1,125 (15% below the US median of $1,319), and the median home value sits at $141,700 (54% below the national median of $304,900). At current prices, the median home costs roughly 2.9x the median household income — well within traditional affordability guidelines.

The median household income in Federal Dam is $48,750, which is 35% lower than the national median of $75,149. Residents spend roughly 28% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. 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.