The 10 Most Expensive Places To Live In Minnesota For 2024


The most expensive cities in Minnesota are Orono and North Oaks for 2024 based on Saturday Night Science.

Before you decide to relocate to Minnesota, it’s important to research the exact cost of living around the state. And that’s what we’re going to help you do.

These are the places in Minnesota that cost a pretty penny — the most expensive cities in the state.

We used Saturday Night Science to compare the 2018-2022 American Community Survey on cost of living for the 146 places in Minnesota with more than 5,000 people.

After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Minnesota for 2024.


Table Of Contents: Top Ten | Methodology | Summary | Table


The 10 Most Expensive Places To Live In Minnesota For 2024

  1. Orono
  2. North Oaks
  3. Medina
  4. Minnetrista
  5. Edina
  6. Shorewood
  7. Victoria
  8. Lake Elmo
  9. Chanhassen
  10. Corcoran

What’s the most expensive place to live in Minnesota? Well, HomeSnacks crunched the numbers and discovered that Orono is the most expensive place to live in Minnesota.

International Falls (the cheapest place to live in Minnesota) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.

And if you already knew these places were expensive, check out some more reading about Minnesota and the most expensive cities in the country:

The 10 Most Expensive Places To Live In Minnesota For 2024

Orono, MN

Source: Flickr User Tony Webster | CC BY-SA 2.0
Overall SnackAbility

6
/10

Population: 8,223
Cost Of Living Index: 155
Median Income: $173,209
Average Home Price: $1,019,638
Home Price To Income Ratio: 5.9x
More on Orono: Data | Crime | Cost Of Living | Real Estate

The overall cost of living in Orono is 155. The median income in Orono comes in at $173,209 and the average home value is $1,019,638 for 2024.

North Oaks, MN

Source: Wikipedia User Bobak Ha’Eri | CC BY 3.0
Overall SnackAbility

7
/10

Population: 5,193
Cost Of Living Index: 150
Median Income: $235,714
Average Home Price: $876,362
Home Price To Income Ratio: 3.7x
More on North Oaks: Data | Cost Of Living | Real Estate

The overall cost of living in North Oaks is 150. The median income in North Oaks comes in at $235,714 and the average home value is $876,362 for 2024.

Medina, MN

Source: Flickr User Tony Webster | CC BY 2.0
Overall SnackAbility

7
/10

Population: 6,746
Cost Of Living Index: 149
Median Income: $202,153
Average Home Price: $797,015
Home Price To Income Ratio: 3.9x
More on Medina: Data | Crime | Cost Of Living | Real Estate

The overall cost of living in Medina is 149. The median income in Medina comes in at $202,153 and the average home value is $797,015 for 2024.

Minnetrista, MN

Source: Wikipedia User Elkman | GFDL
Overall SnackAbility

9
/10

Population: 8,347
Cost Of Living Index: 143
Median Income: $162,474
Average Home Price: $660,620
Home Price To Income Ratio: 4.1x
More on Minnetrista: Data | Crime | Cost Of Living | Real Estate

The overall cost of living in Minnetrista is 143. The median income in Minnetrista comes in at $162,474 and the average home value is $660,620 for 2024.

Edina, MN

Source: Public domain
Overall SnackAbility

10
/10

Population: 53,037
Cost Of Living Index: 133
Median Income: $125,506
Average Home Price: $598,918
Home Price To Income Ratio: 4.8x
More on Edina: Data | Crime | Cost Of Living | Real Estate

The overall cost of living in Edina is 133. The median income in Edina comes in at $125,506 and the average home value is $598,918 for 2024.

Shorewood, MN

Source: Wikipedia User User:Eco84 | GFDL
Overall SnackAbility

7
/10

Population: 7,722
Cost Of Living Index: 133
Median Income: $163,525
Average Home Price: $717,403
Home Price To Income Ratio: 4.4x
More on Shorewood: Data | Cost Of Living | Real Estate

The overall cost of living in Shorewood is 133. The median income in Shorewood comes in at $163,525 and the average home value is $717,403 for 2024.

Victoria, MN

Source: Flickr User SocialMediaAdventure | CC BY 2.0
Overall SnackAbility

6
/10

Population: 10,681
Cost Of Living Index: 126
Median Income: $179,515
Average Home Price: $552,013
Home Price To Income Ratio: 3.1x
More on Victoria: Data | Cost Of Living | Real Estate

The overall cost of living in Victoria is 126. The median income in Victoria comes in at $179,515 and the average home value is $552,013 for 2024.

Overall SnackAbility

6
/10

Population: 11,861
Cost Of Living Index: 124
Median Income: $158,269
Average Home Price: $616,212
Home Price To Income Ratio: 3.9x
More on Lake Elmo: Data | Cost Of Living | Real Estate

The overall cost of living in Lake Elmo is 124. The median income in Lake Elmo comes in at $158,269 and the average home value is $616,212 for 2024.

Chanhassen, MN

Source: Wikipedia User Bobak Ha’Eri | CC BY 3.0
Overall SnackAbility

7.5
/10

Population: 25,868
Cost Of Living Index: 123
Median Income: $131,633
Average Home Price: $509,790
Home Price To Income Ratio: 3.9x
More on Chanhassen: Data | Cost Of Living | Real Estate

The overall cost of living in Chanhassen is 123. The median income in Chanhassen comes in at $131,633 and the average home value is $509,790 for 2024.

Corcoran, MN

Source: Flickr User Ann Forstie | CC BY 2.0
Overall SnackAbility

6
/10

Population: 6,549
Cost Of Living Index: 121
Median Income: $155,385
Average Home Price: $556,085
Home Price To Income Ratio: 3.6x
More on Corcoran: Data | Crime | Cost Of Living | Real Estate

The overall cost of living in Corcoran is 121. The median income in Corcoran comes in at $155,385 and the average home value is $556,085 for 2024.

Methodology: How We Determined The Most Expensive Places To Live In The North Star State For 2024

Map Of The Cheapest Places To Live In Minnesota
The two most important things to think about when it comes to being able to afford a city in Minnesota are:

  1. How much money do I make?
  2. How much do I have to spend to live there?

You need to understand your costs in the context of how much money you make.

For example, if the median household earns $100,000 and spends $40,000 on housing, it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.

With that example in mind, we derived several statistics from the latest Census American Community Survey 2018-2022 around incomes and costs. They are:

  • Overall Cost Of Living Index
  • Median Home Price / Median Income (lower is better)
  • Median Income / Median Rent (Higher is better)
  • Median Home Price

You can then compare these metrics in each of the places in Minnesota to figure out which is the most expensive.

You are left with a “Cost of Living Index” by taking the average rank of each of these metrics for each city.

So we used that cost of living index to rank all of the 146 places in Minnesota that have more than 5,000 people.

The place with the highest cost of living in Minnesota according to the data is Orono. We updated this article for 2024. This article is our tenth time ranking the most expensive places to live in Minnesota.

Summary: Taking A Chunk Out Of Your Paycheck In Minnesota For 2024

Well, there you have it, the places in Minnesota that have the highest cost of living, with Orono ranking as the most expensive city in the North Star State.

The most expensive cities in Minnesota are Orono, North Oaks, Medina, Minnetrista, Edina, Shorewood, Victoria, Lake Elmo, Chanhassen, and Corcoran.

Here’s a look at the most affordable cities in Minnesota according to the data:

  1. International Falls
  2. Thief River Falls
  3. Crookston

For more Minnesota reading, check out:

Most Expensive Cities In Minnesota

Rank City Cost Of Living Population Median Income Average Home Price Home/Income Ratio
1 Orono 155 8,223 $173,209 $1,019,638 5.9x
2 North Oaks 150 5,193 $235,714 $876,362 3.7x
3 Medina 149 6,746 $202,153 $797,015 3.9x
4 Minnetrista 143 8,347 $162,474 $660,620 4.1x
5 Edina 133 53,037 $125,506 $598,918 4.8x
6 Shorewood 133 7,722 $163,525 $717,403 4.4x
7 Victoria 126 10,681 $179,515 $552,013 3.1x
8 Lake Elmo 124 11,861 $158,269 $616,212 3.9x
9 Chanhassen 123 25,868 $131,633 $509,790 3.9x
10 Corcoran 121 6,549 $155,385 $556,085 3.6x
11 Eden Prairie 120 63,623 $129,345 $463,961 3.6x
12 Mendota Heights 119 11,642 $129,800 $515,905 4.0x
13 Carver 118 5,656 $125,123 $477,934 3.8x
14 Plymouth 117 79,918 $130,131 $474,202 3.6x
15 Woodbury 115 75,549 $125,097 $448,821 3.6x
16 Minnetonka 115 53,529 $114,867 $450,534 3.9x
17 Prior Lake 115 27,608 $129,539 $492,980 3.8x
18 Arden Hills 115 9,805 $121,978 $450,961 3.7x
19 Lakeville 114 70,696 $129,069 $465,445 3.6x
20 St. Michael 113 18,648 $123,318 $410,822 3.3x
21 Ham Lake 113 16,489 $112,854 $463,556 4.1x
22 Rogers 113 13,283 $154,611 $441,756 2.9x
23 Maple Grove 112 70,110 $127,001 $397,985 3.1x
24 Savage 112 32,441 $123,069 $412,196 3.3x
25 Golden Valley 112 22,142 $110,026 $409,489 3.7x
26 Hugo 112 15,831 $110,160 $413,867 3.8x
27 Andover 111 32,639 $123,054 $415,283 3.4x
28 Mahtomedi 111 8,073 $126,579 $460,576 3.6x
29 Falcon Heights 111 5,232 $87,750 $391,737 4.5x
30 Ramsey 110 27,774 $110,212 $362,266 3.3x
31 Chaska 110 27,764 $99,988 $441,075 4.4x
32 Shoreview 110 26,846 $106,153 $391,526 3.7x
33 Lino Lakes 110 21,525 $120,745 $422,847 3.5x
34 Waconia 110 12,993 $101,619 $436,466 4.3x
35 Oak Grove 110 8,956 $118,871 $431,853 3.6x
36 Eagan 109 68,262 $104,101 $385,125 3.7x
37 St. Louis Park 109 49,500 $94,263 $364,388 3.9x
38 Shakopee 109 44,135 $103,924 $378,683 3.6x
39 East Bethel 109 11,901 $116,453 $378,957 3.3x
40 Burnsville 108 64,075 $85,801 $356,837 4.2x
41 Rosemount 108 25,993 $127,252 $408,304 3.2x
42 Hermantown 108 10,135 $85,417 $383,661 4.5x
43 St. Anthony 108 9,332 $91,955 $377,784 4.1x
44 Cottage Grove 107 39,274 $117,673 $368,093 3.1x
45 Mound 107 9,272 $89,855 $360,628 4.0x
46 Apple Valley 106 55,594 $97,588 $363,468 3.7x
47 Roseville 106 36,066 $87,702 $350,177 4.0x
48 New Brighton 106 23,141 $84,707 $362,922 4.3x
49 Forest Lake 106 20,553 $91,157 $387,584 4.3x
50 Stillwater 106 19,316 $107,986 $417,520 3.9x
51 Hopkins 106 18,752 $70,058 $317,062 4.5x
52 Buffalo 106 16,288 $81,868 $354,423 4.3x
53 Baxter 106 8,668 $67,064 $334,916 5.0x
54 Dayton 106 7,745 $138,654 $473,645 3.4x
55 Jordan 106 6,648 $111,290 $421,455 3.8x
56 Delano 106 6,539 $105,766 $415,697 3.9x
57 Bloomington 105 89,244 $87,381 $347,523 4.0x
58 Blaine 105 70,047 $100,659 $354,091 3.5x
59 Oakdale 105 28,029 $86,003 $329,457 3.8x
60 Elk River 105 25,936 $95,597 $377,388 3.9x
61 Farmington 105 23,487 $114,737 $373,537 3.3x
62 Sartell 105 19,382 $74,177 $315,131 4.2x
63 Minneapolis 104 426,877 $76,332 $318,812 4.2x
64 Inver Grove Heights 104 35,673 $98,719 $349,482 3.5x
65 White Bear Lake 104 24,317 $79,699 $332,323 4.2x
66 Champlin 104 23,666 $113,570 $347,903 3.1x
67 Otsego 104 20,455 $122,420 $395,838 3.2x
68 Maplewood 103 41,405 $86,769 $320,605 3.7x
69 Little Canada 103 10,624 $69,673 $351,425 5.0x
70 New Prague 103 8,155 $101,579 $326,107 3.2x
71 Wyoming 103 8,037 $99,821 $379,394 3.8x
72 Albertville 103 7,883 $107,316 $357,047 3.3x
73 Brooklyn Park 102 84,951 $82,271 $327,075 4.0x
74 Coon Rapids 102 63,296 $85,445 $310,442 3.6x
75 Richfield 102 36,809 $80,712 $327,416 4.1x
76 Monticello 102 14,447 $80,290 $310,024 3.9x
77 Alexandria 102 14,400 $57,309 $257,770 4.5x
78 Robbinsdale 101 14,452 $80,125 $296,059 3.7x
79 Vadnais Heights 101 12,864 $89,632 $354,501 4.0x
80 St. Francis 101 8,198 $98,390 $325,664 3.3x
81 Zimmerman 101 6,243 $79,720 $305,646 3.8x
82 Chisago City 101 5,576 $92,278 $414,242 4.5x
83 Crystal 100 22,954 $86,288 $296,320 3.4x
84 Mounds View 100 13,100 $89,358 $322,091 3.6x
85 North St. Paul 100 12,465 $77,475 $304,655 3.9x
86 Big Lake 100 11,857 $100,188 $351,813 3.5x
87 La Crescent 100 5,352 $70,813 $309,576 4.4x
88 St. Paul 99 308,806 $69,919 $278,672 4.0x
89 Northfield 99 20,518 $83,125 $358,052 4.3x
90 Hutchinson 99 14,588 $64,635 $275,891 4.3x
91 Sauk Rapids 99 13,830 $66,442 $275,189 4.1x
92 Waite Park 99 8,290 $52,391 $229,447 4.4x
93 Spring Lake Park 99 6,966 $74,697 $299,120 4.0x
94 St. Cloud 98 68,910 $58,910 $233,113 4.0x
95 Hastings 98 22,063 $87,722 $313,784 3.6x
96 Willmar 98 21,006 $59,132 $219,141 3.7x
97 West St. Paul 98 20,820 $68,359 $296,144 4.3x
98 Anoka 98 17,892 $73,118 $308,373 4.2x
99 Grand Rapids 98 11,158 $53,317 $234,222 4.4x
100 North Branch 98 10,968 $94,564 $332,334 3.5x
About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.