Cost of Living in Staples, MN

With a cost of living index of 69, Staples, MN is one of the most affordable cities in the country. Living here is 31% cheaper than the national average and 13% below the Minnesota state average of 82. Staples is a small community of 2,359 residents.

Housing costs are the biggest factor in Staples's cost of living. The median monthly rent is $856 (35% below the US median of $1,319), and the median home value sits at $119,300 (61% below the national median of $304,900). At current prices, the median home costs roughly 2.3x the median household income — well within traditional affordability guidelines.

The median household income in Staples is $51,506, which is 31% lower than the national median of $75,149. Residents spend roughly 20% 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 Staples. The area sees an average annual temperature of 42.2°F, with summers averaging 67°F and winters around 14°F. Annual rainfall totals 24.5 inches spread over roughly 100 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.