Cost of Living in Grand Marais, MN

With a cost of living index of 88, Grand Marais, MN is a very affordable place to live. Living here is 12% cheaper than the national average and 5% above the Minnesota state average of 82. Grand Marais is a small community of 1,700 residents.

Housing costs are the biggest factor in Grand Marais's cost of living. The median monthly rent is $1,013 (23% below the US median of $1,319), and the median home value sits at $283,700 (7% below the national median of $304,900). At current prices, the median home costs roughly 3.8x the median household income — a moderately affordable ratio by today's standards.

The median household income in Grand Marais is $73,846, which is 2% 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 Grand Marais. The area sees an average annual temperature of 39.5°F, with summers averaging 58°F and winters around 18°F. Annual rainfall totals 25.9 inches spread over roughly 130 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.