Cost of Living in Renville, MN

With a cost of living index of 63, Renville, MN is one of the most affordable cities in the country. Living here is 37% cheaper than the national average and 19% below the Minnesota state average of 82. Renville is a small community of 1,397 residents.

Housing costs are the biggest factor in Renville's cost of living. The median monthly rent is $671 (49% below the US median of $1,319), and the median home value sits at $109,700 (64% below the national median of $304,900). At current prices, the median home costs roughly 1.5x the median household income — well within traditional affordability guidelines.

The median household income in Renville is $73,750, which is 2% lower than the national median of $75,149. Residents spend roughly 11% 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 Renville. The area sees an average annual temperature of 45.4°F, with summers averaging 71°F and winters around 18°F. Annual rainfall totals 28 inches spread over roughly 96 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.