Cost of Living in Rochester, MN

With a cost of living index of 96, Rochester, MN is slightly more affordable than average. Living here is 4% cheaper than the national average and 14% above the Minnesota state average of 82. As a major city with a population of 121,638, Rochester offers a wide range of housing options, employment opportunities, and urban amenities.

Housing costs are the biggest factor in Rochester's cost of living. The median monthly rent is $1,316 (0% below the US median of $1,319), and the median home value sits at $287,500 (6% below the national median of $304,900). At current prices, the median home costs roughly 3.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Rochester is $87,767, which is 17% higher than the national median of $75,149. Residents spend roughly 18% 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 Rochester. The area sees an average annual temperature of 44.8°F, with summers averaging 69°F and winters around 18°F. Annual rainfall totals 34.7 inches spread over roughly 124 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Rochester, MN (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.