Cost of Living in Ghent, MN

With a cost of living index of 75, Ghent, MN is one of the most affordable cities in the country. Living here is 25% cheaper than the national average and 7% below the Minnesota state average of 82. Ghent is a small community of 455 residents.

Housing costs are the biggest factor in Ghent's cost of living. The median monthly rent is $941 (29% below the US median of $1,319), and the median home value sits at $154,700 (49% below the national median of $304,900). At current prices, the median home costs roughly 2.1x the median household income — well within traditional affordability guidelines.

The median household income in Ghent is $72,500, which is 4% lower than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Ghent. The area sees an average annual temperature of 45.4°F, with summers averaging 71°F and winters around 18°F. Annual rainfall totals 28 inches spread over roughly 96 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.