The 10 Most Expensive Places To Live In Minnesota For 2021


We used science and data to determine which cities in Minnesota that will put a big dent in your wallet.

Editor’s Note: We updated this article for 2021. This is our seventh time ranking the most expensive places to live in Minnesota.

Everyone wants a home that mixes affordability with comfort and Minnesota does this very well. Families love the North Star State's beaches, midlands, and mountains as tourists before moving here and calling it home.

But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.

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

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 2021.

So where is the most expensive place to live in Minnesota? That would be Little Canada.
the 2015-2019 American Community Survey for the 146 places in Minnesota with more than 5,000 people.

Here are the 10 most expensive places to live in Minnesota for 2021:

  1. Little Canada
  2. Minnetonka
  3. North Oaks
  4. Minneapolis
  5. Hopkins
  6. Arden Hills
  7. Edina
  8. New Hope
  9. St. Louis Park
  10. St. Anthony

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

So hopefully Hibbing (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 2021

1. Little Canada

Overall SnackAbility

7
/10

Population: 10,451
Rank Last Year: 3 (Up 2)
Home Price To Income Ratio: 4.6x (most expensive)
Income To Rent Ratio: 52.7x (5th most expensive)
More on Little Canada: Real Estate | Data

The median income in Little Canada comes in at $52,842 and the median home value is $242,500 for 2021.

2. MinnetonkaMinnetonka, MN

Source: Public domain
Overall SnackAbility

9.5
/10

Population: 53,025
Rank Last Year: 4 (Up 2)
Home Price To Income Ratio: 3.6x (14th most expensive)
Income To Rent Ratio: 67.0x (46th most expensive)
More on Minnetonka: Real Estate | Data | Photos

The median income in Minnetonka comes in at $95,630 and the median home value is $347,900 for 2021.

3. North OaksNorth Oaks, MN

Overall SnackAbility

7
/10

Population: 5,177
Rank Last Year: 1 (Down 2)
Home Price To Income Ratio: 3.5x (19th most expensive)
Income To Rent Ratio: 68.4x (55th most expensive)
More on North Oaks: Real Estate | Data | Photos

The median income in North Oaks comes in at $178,816 and the median home value is $633,300 for 2021.

4. MinneapolisMinneapolis, MN

Overall SnackAbility

7
/10

Population: 420,324
Rank Last Year: 6 (Up 2)
Home Price To Income Ratio: 4.0x (7th most expensive)
Income To Rent Ratio: 60.9x (22nd most expensive)
More on Minneapolis: Real Estate | Data | Photos

The median income in Minneapolis comes in at $62,583 and the median home value is $251,600 for 2021.

5. HopkinsHopkins, MN

Overall SnackAbility

8.5
/10

Population: 18,382
Rank Last Year: 5 (No Change)
Home Price To Income Ratio: 4.0x (6th most expensive)
Income To Rent Ratio: 54.6x (8th most expensive)
More on Hopkins: Real Estate | Data | Photos

The median income in Hopkins comes in at $56,390 and the median home value is $227,500 for 2021.

6. Arden HillsArden Hills, MN

Overall SnackAbility

7.5
/10

Population: 10,293
Rank Last Year: 2 (Down 3)
Home Price To Income Ratio: 3.2x (4most expensive)
Income To Rent Ratio: 58.6x (13th most expensive)
More on Arden Hills: Real Estate | Data | Photos

The median income in Arden Hills comes in at $91,250 and the median home value is $292,900 for 2021.

7. EdinaEdina, MN

Overall SnackAbility

10
/10

Population: 51,746
Rank Last Year: 7 (No Change)
Home Price To Income Ratio: 4.6x (2nd most expensive)
Income To Rent Ratio: 74.2x (86th most expensive)
More on Edina: Real Estate | Data | Photos

The median income in Edina comes in at $104,244 and the median home value is $476,300 for 2021.

8. New HopeNew Hope, MN

Overall SnackAbility

8.5
/10

Population: 20,925
Rank Last Year: 8 (No Change)
Home Price To Income Ratio: 3.7x (11th most expensive)
Income To Rent Ratio: 58.7x (14th most expensive)
More on New Hope: Real Estate | Data | Photos

The median income in New Hope comes in at $60,675 and the median home value is $225,100 for 2021.

9. St. Louis ParkSt. Louis Park, MN

Source: Public domain
Overall SnackAbility

9
/10

Population: 48,677
Rank Last Year: 9 (No Change)
Home Price To Income Ratio: 3.4x (25th most expensive)
Income To Rent Ratio: 65.4x (37th most expensive)
More on St. Louis Park: Real Estate | Data | Photos

The median income in St. Louis Park comes in at $80,627 and the median home value is $271,600 for 2021.

10. St. AnthonySt. Anthony, MN

Source: Public domain
Overall SnackAbility

9
/10

Population: 9,038
Rank Last Year: 14 (Up 4)
Home Price To Income Ratio: 3.6x (13th most expensive)
Income To Rent Ratio: 67.7x (50th most expensive)
More on St. Anthony: Real Estate | Data | Photos

The median income in St. Anthony comes in at $73,918 and the median home value is $269,300 for 2021.

How We Determined The Most Expensive Places To Live In The North Star State For 2021

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 if you can live comes down to:

  1. How much do money do I make?
  2. How much do I have 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 2015-2019 around incomes and costs. They are:

  • Median Home Price / Median Income (lower is better)
  • Median Income / Median Rent (Higher is better)
  • Median Home Price

We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).

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

What you are left with is 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 in order 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 Little Canada. You can download the data here.

Taking A Chunk Out Of Your Paycheck In Minnesota For 2021

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

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

  1. Hibbing
  2. New Ulm
  3. Montevideo

For more Minnesota reading, check out:

Detailed List Of The Most Expensive Cities In Minnesota

Rank City ExpensiveScore Population Home/Income Ratio Income/Rent Ratio
1 Little Canada 22.17 10,451 4.6x 52.7x
2 Minnetonka 24.33 53,025 3.6x 67.0x
3 North Oaks 25.33 5,177 3.5x 68.4x
4 Minneapolis 27.0 420,324 4.0x 60.9x
5 Hopkins 27.33 18,382 4.0x 54.6x
6 Arden Hills 27.33 10,293 3.2x 58.6x
7 Edina 31.33 51,746 4.6x 74.2x
8 New Hope 32.33 20,925 3.7x 58.7x
9 St. Louis Park 32.67 48,677 3.4x 65.4x
10 St. Anthony 33.67 9,038 3.6x 67.7x
11 Burnsville 33.67 61,311 3.4x 59.9x
12 Falcon Heights 34.17 5,571 3.9x 71.2x
13 St. Paul 37.67 304,547 3.6x 59.8x
14 Bloomington 37.67 85,332 3.3x 63.8x
15 Minnetrista 38.33 7,621 2.8x 57.0x
16 Roseville 39.17 36,026 3.6x 67.8x
17 West St. Paul 39.33 19,779 3.6x 55.4x
18 Mankato 40.33 42,093 3.7x 53.3x
19 Richfield 41.67 36,063 3.4x 62.0x
20 Anoka 42.0 17,471 3.5x 60.9x
21 Forest Lake 43.33 20,004 3.4x 71.5x
22 Bemidji 44.67 15,132 4.3x 40.9x
23 Waite Park 46.0 7,692 3.7x 48.8x
24 Inver Grove Heights 47.0 35,320 3.2x 68.6x
25 Shorewood 47.33 7,867 3.5x 85.4x
26 New Brighton 48.33 22,556 3.4x 71.9x
27 Orono 48.67 8,113 4.3x 108.9x
28 Hermantown 49.0 9,604 3.2x 67.5x
29 Plymouth 49.0 78,134 3.3x 78.2x
30 Detroit Lakes 49.67 9,197 3.9x 66.3x
31 Hugo 50.0 14,767 2.9x 60.0x
32 White Bear Lake 50.17 25,673 3.2x 63.2x
33 Medina 50.33 6,380 4.1x 110.7x
34 Eden Prairie 50.67 64,179 3.3x 79.9x
35 Lake Elmo 51.0 8,969 3.6x 92.5x
36 Jordan 52.33 6,230 3.2x 66.8x
37 Woodbury 53.67 69,906 3.0x 71.2x
38 Maplewood 55.0 40,545 3.1x 62.2x
39 Golden Valley 55.0 21,566 3.1x 72.7x
40 North St. Paul 55.0 12,406 3.2x 65.5x
41 Brainerd 55.0 13,373 3.4x 46.9x
42 Eagan 56.33 66,379 3.2x 75.4x
43 Oakdale 56.33 27,963 3.1x 67.6x
44 Apple Valley 57.0 52,889 2.9x 66.0x
45 Chaska 57.67 26,371 3.1x 72.3x
46 Mahtomedi 59.67 8,164 3.2x 87.1x
47 Dayton 59.67 5,817 3.2x 86.0x
48 Vadnais Heights 59.83 13,444 3.1x 70.1x
49 Red Wing 60.33 16,338 3.2x 60.9x
50 Little Falls 61.0 8,664 3.2x 50.1x
51 Columbia Heights 61.0 20,118 3.1x 58.3x
52 Spring Lake Park 61.33 6,535 3.0x 58.9x
53 Fridley 61.67 27,668 3.1x 64.8x
54 Moorhead 61.67 42,939 3.2x 68.2x
55 Mendota Heights 61.67 11,289 3.2x 107.6x
56 Morris 63.67 5,334 3.3x 66.8x
57 Andover 63.67 32,733 2.6x 66.4x
58 Shakopee 64.67 40,731 3.0x 72.4x
59 St. Cloud 64.67 68,001 3.2x 61.3x
60 Cambridge 65.33 8,774 3.0x 54.5x
61 Chanhassen 66.0 25,657 3.1x 90.1x
62 Brooklyn Park 66.33 80,068 3.0x 68.3x
63 Corcoran 66.33 5,911 2.7x 72.6x
64 Stillwater 66.67 19,341 3.2x 90.1x
65 Crystal 66.67 22,975 2.9x 61.3x
66 Coon Rapids 67.0 62,517 2.9x 62.7x
67 Brooklyn Center 68.33 30,849 2.9x 55.0x
68 Chisago City 68.67 5,090 3.1x 77.6x
69 Duluth 69.33 85,915 3.1x 64.0x
70 Shoreview 69.67 26,791 3.0x 76.5x
71 Sauk Rapids 70.33 13,703 3.3x 69.8x
72 St. Peter 70.83 11,854 3.1x 64.8x
73 South St. Paul 72.0 20,194 3.0x 67.5x
74 Maple Grove 72.5 70,627 2.7x 72.4x
75 Ramsey 73.33 26,638 2.7x 67.9x
76 Faribault 73.67 23,800 3.0x 61.7x
77 Lakeville 74.67 63,915 2.8x 81.0x
78 Alexandria 75.0 13,554 3.3x 74.4x
79 Northfield 75.17 20,347 3.2x 85.0x
80 Mounds View 75.67 13,094 3.1x 72.6x
81 Blaine 76.0 64,114 2.7x 68.4x
82 Waconia 76.33 12,131 3.0x 103.5x
83 New Prague 77.0 7,899 3.2x 88.6x
84 Baxter 77.67 8,202 2.9x 71.4x
85 Prior Lake 78.0 26,365 2.9x 95.9x
86 Ham Lake 78.0 16,434 3.0x 95.2x
87 Monticello 79.67 13,583 2.8x 68.8x
88 East Grand Forks 80.33 8,604 3.3x 83.3x
89 Hastings 80.33 22,738 3.0x 75.0x
90 Marshall 81.67 13,651 3.1x 71.6x
91 Victoria 82.33 9,383 2.8x 118.4x
92 Fergus Falls 82.33 13,707 3.0x 66.7x
93 Robbinsdale 83.33 14,468 2.9x 71.6x
94 Oak Grove 83.67 8,682 2.7x 79.5x
95 Lake City 84.67 5,261 2.9x 68.5x
96 Willmar 84.67 19,712 2.8x 60.9x
97 Grand Rapids 85.0 11,165 3.1x 72.1x
98 East Bethel 85.67 11,870 2.7x 75.2x
99 Albertville 86.33 7,436 2.9x 88.0x
100 Mound 87.67 9,480 2.8x 89.4x

How Is The Area In ?

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.