Cost of Living in Midway, MN

With a cost of living index of 82, Midway, MN is a very affordable place to live. Living here is 18% cheaper than the national average and in line with the Minnesota state average. Midway is a small community of 35 residents.

The median household income in Midway is $40,000, which is 47% lower than the national median of $75,149. Residents spend roughly 23% 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 Midway. The area sees an average annual temperature of 40.4°F, with summers averaging 67°F and winters around 11°F. Annual rainfall totals 23.9 inches spread over roughly 103 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.