Cost of Living in McGregor, MN

With a cost of living index of 64, McGregor, MN is one of the most affordable cities in the country. Living here is 36% cheaper than the national average and 19% below the Minnesota state average of 82. McGregor is a small community of 431 residents.

Housing costs are the biggest factor in McGregor's cost of living. The median monthly rent is $678 (49% below the US median of $1,319), and the median home value sits at $115,500 (62% below the national median of $304,900). At current prices, the median home costs roughly 4x the median household income — a moderately affordable ratio by today's standards.

The median household income in McGregor is $28,750, which is 62% 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 McGregor. The area sees an average annual temperature of 41.4°F, with summers averaging 65°F and winters around 15°F. Annual rainfall totals 33.3 inches spread over roughly 121 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.