Cost of Living in Lewisville, MN

With a cost of living index of 51, Lewisville, MN is one of the most affordable cities in the country. Living here is 49% cheaper than the national average and 31% below the Minnesota state average of 82. Lewisville is a small community of 254 residents.

Housing costs are the biggest factor in Lewisville's cost of living. The median monthly rent is $533 (60% below the US median of $1,319), and the median home value sits at $55,500 (82% below the national median of $304,900). At current prices, the median home costs roughly 0.9x the median household income — well within traditional affordability guidelines.

The median household income in Lewisville is $61,500, which is 18% lower than the national median of $75,149. Residents spend roughly 10% 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 Lewisville. The area sees an average annual temperature of 44.6°F, with summers averaging 69°F and winters around 18°F. Annual rainfall totals 29.3 inches spread over roughly 106 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Mankato, MN (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.