What is the cost of living in Richfield, MN?
According to the most recent data on the cost of living, Richfield has an overall cost of living index of 106, which is 1.1x higher than the national index of 100.
Compared to Minnesota, Richfield has a cost of living index that's 1.0x higher than Minnesota's index of 101.
The standard of living in Richfield ranks as #74 most affordable out of the 151 places we measured in Minnesota. By definition, that implies Richfield ranks as the #77 most expensive place in the North Star State.
For more reading on life in Richfield, check out:
Richfield Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Richfield. Here is how it fares on each of the criteria:
The Services index in Richfield is 97.
The Groceries index in Richfield is 98.
The Health index in Richfield is 128.
The Housing index in Richfield is 101.
The Transportation index in Richfield is 99.
The Utilities index in Richfield is 101.
| Living Expense | Richfield | Minnesota | National Average |
|---|---|---|---|
| Overall | 106 | 101 | 100 |
| Services | 97 | 101 | 100 |
| Groceries | 98 | 99 | 100 |
| Health | 128 | 99 | 100 |
| Housing | 101 | 101 | 100 |
| Transportation | 99 | 103 | 100 |
| Utilities | 101 | 101 | 100 |
Richfield Cost Of Living Compared To Minnesota Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Minnesota, check out:
Protect your home budget Compare home warranties in Richfield Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Richfield, MN Housing Cost Breakdown
Housing swings affordability the most between places in Minnesota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Richfield is $347,411.
The Median Rent in Richfield is $1,393.
The Median Income in Richfield is $85,132.
The Home Value To Income in Richfield is 4.1x.
The Rent To Monthly Income in Richfield is 0.2x.
Richfield, MN Costs By Category
Detailed Richfield Services costs vs. Minnesota
Detailed Richfield Groceries costs vs. Minnesota
Detailed Richfield Health costs vs. Minnesota
Detailed Richfield Transportation costs vs. Minnesota
Richfield SnackAbility
Cost Of Living In Cities Around Richfield
The cost of living varies in the cities and towns around Richfield. Here's a quick look at the cost of living in the most populous nearby places:
Minneapolis, MN has a cost of living index of 116, 1.1x Richfield.
Bloomington, MN has a cost of living index of 112, 1.1x Richfield.
Plymouth, MN has a cost of living index of 124, 1.2x Richfield.
| City | Population | Cost Of Living | Vs. Richfield |
|---|---|---|---|
| Minneapolis, MN | 427,246 | 116 | 1.1x |
| Bloomington, MN | 88,665 | 112 | 1.1x |
| Plymouth, MN | 79,220 | 124 | 1.2x |
| Woodbury, MN | 78,305 | 120 | 1.1x |
| Lakeville, MN | 74,354 | 122 | 1.2x |
| Maple Grove, MN | 71,173 | 117 | 1.1x |
| Eagan, MN | 68,000 | 117 | 1.1x |
| Burnsville, MN | 64,463 | 114 | 1.1x |
| Eden Prairie, MN | 63,051 | 128 | 1.2x |
| Edina, MN | 53,262 | 141 | 1.3x |
