Cost of Living in Squaw Lake, MN

With a cost of living index of 66, Squaw Lake, MN is one of the most affordable cities in the country. Living here is 34% cheaper than the national average and 16% below the Minnesota state average of 82. Squaw Lake is a small community of 133 residents.

Housing costs are the biggest factor in Squaw Lake's cost of living. The median monthly rent is $538 (59% below the US median of $1,319), and the median home value sits at $200,000 (34% below the national median of $304,900). At current prices, the median home costs roughly 3.2x the median household income — a moderately affordable ratio by today's standards.

The median household income in Squaw Lake is $61,875, which is 18% lower than the national median of $75,149. Residents spend roughly 10% 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 Squaw Lake. The area sees an average annual temperature of 36.9°F, with summers averaging 61°F and winters around 10°F. Annual rainfall totals 24.8 inches spread over roughly 113 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.