Cost of Living in Little Rock, MN

With a cost of living index of 52, Little Rock, MN is one of the most affordable cities in the country. Living here is 48% cheaper than the national average and 31% below the Minnesota state average of 82. Little Rock is a small community of 1,075 residents.

Housing costs are the biggest factor in Little Rock's cost of living. The median monthly rent is $499 (62% below the US median of $1,319), and the median home value sits at $34,100 (89% below the national median of $304,900). At current prices, the median home costs roughly 0.7x the median household income — well within traditional affordability guidelines.

The median household income in Little Rock is $51,719, which is 31% lower than the national median of $75,149. Residents spend roughly 12% 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 Little Rock. The area sees an average annual temperature of 37.7°F, with summers averaging 63°F and winters around 8°F. Annual rainfall totals 24.3 inches spread over roughly 117 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.