Cost of Living in Hackensack, MN

With a cost of living index of 70, Hackensack, MN is one of the most affordable cities in the country. Living here is 30% cheaper than the national average and 13% below the Minnesota state average of 82. Hackensack is a small community of 302 residents.

Housing costs are the biggest factor in Hackensack's cost of living. The median monthly rent is $756 (43% below the US median of $1,319), and the median home value sits at $159,400 (48% below the national median of $304,900). At current prices, the median home costs roughly 5x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Hackensack is $32,109, which is 57% 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.

Climate is another factor for anyone considering a move to Hackensack. The area sees an average annual temperature of 40.4°F, with summers averaging 67°F and winters around 11°F. Annual rainfall totals 23.9 inches spread over roughly 103 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.