Cost of Living in Hermantown, MN

With a cost of living index of 103, Hermantown, MN is somewhat more expensive than average. Living here is 3% more expensive than the national average and 21% above the Minnesota state average of 82. Hermantown is a smaller community of 10,192 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Hermantown's cost of living. The median monthly rent is $1,375 (4% above the US median of $1,319), and the median home value sits at $374,000 (23% above the national median of $304,900). At current prices, the median home costs roughly 4.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Hermantown is $92,026, which is 22% higher than the national median of $75,149. Residents spend roughly 18% 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 Hermantown. The area sees an average annual temperature of 40.6°F, with summers averaging 65°F and winters around 15°F. Annual rainfall totals 31.2 inches spread over roughly 133 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Duluth, MN-WI (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower 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.