Cost of Living in Twin Lakes, MN

With a cost of living index of 76, Twin Lakes, MN is a very affordable place to live. Living here is 24% cheaper than the national average and 6% below the Minnesota state average of 82. Twin Lakes is a small community of 182 residents.

The median household income in Twin Lakes is $45,833, which is 39% lower 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. 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 Twin Lakes. The area sees an average annual temperature of 45.6°F, with summers averaging 70°F and winters around 19°F. Annual rainfall totals 36.3 inches spread over roughly 116 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.