Cost of Living in Finlayson, MN

With a cost of living index of 72, Finlayson, MN is one of the most affordable cities in the country. Living here is 28% cheaper than the national average and 10% below the Minnesota state average of 82. Finlayson is a small community of 228 residents.

Housing costs are the biggest factor in Finlayson's cost of living. The median monthly rent is $790 (40% below the US median of $1,319), and the median home value sits at $175,000 (43% 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 Finlayson is $63,750, which is 15% lower 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. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Finlayson. The area sees an average annual temperature of 41.4°F, with summers averaging 65°F and winters around 15°F. Annual rainfall totals 33.3 inches spread over roughly 121 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.