Cost of Living in Hampton, MN

With a cost of living index of 90, Hampton, MN is slightly more affordable than average. Living here is 10% cheaper than the national average and 8% above the Minnesota state average of 82. Hampton is a small community of 510 residents.

Housing costs are the biggest factor in Hampton's cost of living. The median monthly rent is $950 (28% below the US median of $1,319), and the median home value sits at $305,700 (0% below the national median of $304,900). At current prices, the median home costs roughly 2.9x the median household income — well within traditional affordability guidelines.

The median household income in Hampton is $106,111, which is 41% higher than the national median of $75,149. Residents spend roughly 11% 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 Hampton. The area sees an average annual temperature of 46.9°F, with summers averaging 72°F and winters around 20°F. Annual rainfall totals 31.6 inches spread over roughly 119 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Minneapolis-St. Paul-Bloomington, MN-WI (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.