Cost of Living in Ottertail, MN

With a cost of living index of 87, Ottertail, MN is a very affordable place to live. Living here is 13% cheaper than the national average and 5% above the Minnesota state average of 82. Ottertail is a small community of 490 residents.

Housing costs are the biggest factor in Ottertail's cost of living. The median monthly rent is $1,047 (21% below the US median of $1,319), and the median home value sits at $262,500 (14% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Ottertail is $83,750, which is 11% higher than the national median of $75,149. Residents spend roughly 15% 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 Ottertail. The area sees an average annual temperature of 42.5°F, with summers averaging 68°F and winters around 14°F. Annual rainfall totals 24.1 inches spread over roughly 92 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.