Cost of Living in Grand Rapids, MN

With a cost of living index of 80, Grand Rapids, MN is a very affordable place to live. Living here is 20% cheaper than the national average and in line with the Minnesota state average. Grand Rapids is a smaller community of 11,186 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Grand Rapids's cost of living. The median monthly rent is $999 (24% below the US median of $1,319), and the median home value sits at $200,600 (34% below the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Grand Rapids is $56,542, which is 25% lower than the national median of $75,149. Residents spend roughly 21% 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 Grand Rapids. The area sees an average annual temperature of 36.9°F, with summers averaging 61°F and winters around 10°F. Annual rainfall totals 24.8 inches spread over roughly 113 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.