The 10 Most Expensive Places To Live In Minnesota For 2022


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

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Editor’s Note: We updated this article for 2022. This is our ninth 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 2022.

So where is the most expensive place to live in Minnesota? That would be Hopkins.
the 2016-2020 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 2022:

  1. Hopkins
  2. Little Canada
  3. Minneapolis
  4. Falcon Heights
  5. Minnetonka
  6. New Hope
  7. Burnsville
  8. Edina
  9. West St. Paul
  10. White Bear Lake

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

So hopefully Montevideo (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 2022

1. Hopkins

Hopkins, MN

Overall SnackAbility

8.5
/10

Population: 18,400
Rank Last Year: 5 (Up 4)
Home Price To Income Ratio: 4.3x (4th most expensive)
Income To Rent Ratio: 55.1x (5th most expensive)
More on Hopkins: Real Estate | Data | Photos

The median income in Hopkins comes in at $59,141 and the median home value is $251,700 for 2022.

2. Little Canada

Overall SnackAbility

7.5
/10

Population: 10,423
Rank Last Year: 1 (Down 1)
Home Price To Income Ratio: 4.4x (3rd most expensive)
Income To Rent Ratio: 55.3x (6th most expensive)
More on Little Canada: Real Estate | Data

The median income in Little Canada comes in at $55,893 and the median home value is $245,200 for 2022.

3. Minneapolis

Minneapolis, MN

Overall SnackAbility

7
/10

Population: 424,536
Rank Last Year: 4 (Up 1)
Home Price To Income Ratio: 4.1x (6th most expensive)
Income To Rent Ratio: 61.3x (22nd most expensive)
More on Minneapolis: Real Estate | Data | Photos

The median income in Minneapolis comes in at $66,068 and the median home value is $268,100 for 2022.

4. Falcon Heights

Falcon Heights, MN

Overall SnackAbility

7.5
/10

Population: 5,586
Rank Last Year: 12 (Up 8)
Home Price To Income Ratio: 4.1x (5th most expensive)
Income To Rent Ratio: 66.3x (43rd most expensive)
More on Falcon Heights: Real Estate | Data | Photos

The median income in Falcon Heights comes in at $72,616 and the median home value is $300,700 for 2022.

5. Minnetonka

Minnetonka, MN

Source: Public domain
Overall SnackAbility

9.5
/10

Population: 53,760
Rank Last Year: 2 (Down 3)
Home Price To Income Ratio: 3.6x (13th most expensive)
Income To Rent Ratio: 68.4x (56th most expensive)
More on Minnetonka: Real Estate | Data | Photos

The median income in Minnetonka comes in at $100,363 and the median home value is $362,100 for 2022.

6. New Hope

New Hope, MN

Overall SnackAbility

8.5
/10

Population: 20,913
Rank Last Year: 8 (Up 2)
Home Price To Income Ratio: 3.9x (8th most expensive)
Income To Rent Ratio: 56.1x (7th most expensive)
More on New Hope: Real Estate | Data | Photos

The median income in New Hope comes in at $60,762 and the median home value is $235,600 for 2022.

7. Burnsville

Burnsville, MN

Overall SnackAbility

8.5
/10

Population: 61,536
Rank Last Year: 10 (Up 3)
Home Price To Income Ratio: 3.5x (24th most expensive)
Income To Rent Ratio: 58.6x (12th most expensive)
More on Burnsville: Real Estate | Data | Photos

The median income in Burnsville comes in at $76,017 and the median home value is $263,700 for 2022.

8. Edina

Edina, MN

Source: Public domain
Overall SnackAbility

9.5
/10

Population: 52,215
Rank Last Year: 7 (Down 1)
Home Price To Income Ratio: 4.6x (most expensive)
Income To Rent Ratio: 75.3x (86th most expensive)
More on Edina: Real Estate | Data | Photos

The median income in Edina comes in at $108,576 and the median home value is $501,400 for 2022.

9. West St. Paul

West St. Paul, MN

Overall SnackAbility

7
/10

Population: 19,805
Rank Last Year: 17 (Up 8)
Home Price To Income Ratio: 3.8x (9th most expensive)
Income To Rent Ratio: 54.7x (4th most expensive)
More on West St. Paul: Real Estate | Data | Photos

The median income in West St. Paul comes in at $57,142 and the median home value is $215,500 for 2022.

10. White Bear Lake

White Bear Lake, MN

Overall SnackAbility

9
/10

Population: 25,718
Rank Last Year: 32 (Up 22)
Home Price To Income Ratio: 3.4x (29th most expensive)
Income To Rent Ratio: 58.4x (11th most expensive)
More on White Bear Lake: Real Estate | Data | Photos

The median income in White Bear Lake comes in at $70,981 and the median home value is $241,400 for 2022.

Methodology: How We Determined The Most Expensive Places To Live In The North Star State For 2022

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 2016-2020 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 Hopkins. You can download the data here.

Summary: Taking A Chunk Out Of Your Paycheck In Minnesota For 2022

Well there you have it, the places in Minnesota that have the highest cost of living, with Hopkins 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. Montevideo
  2. Hibbing
  3. Kasson

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 Hopkins 23.33 18,400 4.3x 55.1x
2 Little Canada 24.0 10,423 4.4x 55.3x
3 Minneapolis 25.33 424,536 4.1x 61.3x
4 Falcon Heights 25.67 5,586 4.1x 66.3x
5 Minnetonka 27.67 53,760 3.6x 68.4x
6 New Hope 29.33 20,913 3.9x 56.1x
7 Burnsville 30.33 61,536 3.5x 58.6x
8 Edina 31.0 52,215 4.6x 75.3x
9 West St. Paul 33.33 19,805 3.8x 54.7x
10 White Bear Lake 35.67 25,718 3.4x 58.4x
11 St. Paul 36.33 305,877 3.6x 59.0x
12 St. Louis Park 36.67 48,874 3.4x 66.8x
13 Richfield 38.67 36,253 3.4x 60.9x
14 Minnetrista 39.33 7,989 3.5x 76.4x
15 Bloomington 39.33 85,226 3.4x 64.1x
16 Roseville 40.67 36,139 3.6x 68.3x
17 New Brighton 42.0 22,663 3.6x 69.5x
18 Golden Valley 42.67 21,611 3.4x 71.8x
19 Anoka 43.33 17,512 3.5x 62.7x
20 Mankato 43.67 42,685 3.6x 56.5x
21 Waite Park 45.33 7,719 3.7x 50.0x
22 Orono 46.33 8,217 4.5x 97.8x
23 Inver Grove Heights 47.33 35,492 3.3x 68.5x
24 Bemidji 47.67 15,277 3.9x 42.2x
25 Shorewood 49.67 7,939 3.6x 90.5x
26 St. Anthony 50.33 9,035 3.3x 71.4x
27 Forest Lake 51.0 20,393 3.4x 74.6x
28 Hermantown 52.0 9,577 3.4x 75.4x
29 Plymouth 54.0 78,879 3.3x 79.4x
30 Woodbury 54.0 71,298 3.1x 71.9x
31 Apple Valley 54.17 53,728 3.0x 64.6x
32 North St. Paul 54.67 12,421 3.3x 63.4x
33 North Oaks 54.67 5,244 3.2x 79.0x
34 Little Falls 55.0 8,663 3.6x 60.0x
35 Albertville 55.0 7,483 3.3x 67.1x
36 Medina 55.33 6,549 3.5x 115.5x
37 Eden Prairie 55.67 64,481 3.3x 79.5x
38 Brainerd 55.67 13,423 3.5x 51.3x
39 Eagan 56.0 66,377 3.2x 74.0x
40 Brooklyn Park 56.0 80,173 3.2x 63.7x
41 Detroit Lakes 56.33 9,229 3.7x 67.3x
42 Maplewood 56.67 40,684 3.2x 62.9x
43 Chisago City 57.17 5,159 3.3x 75.7x
44 Fridley 58.67 27,789 3.2x 63.4x
45 St. Peter 59.33 11,934 3.3x 60.0x
46 Hugo 60.0 15,008 2.9x 62.9x
47 Chanhassen 60.67 25,965 3.2x 84.5x
48 Mahtomedi 61.33 8,232 3.1x 78.0x
49 Columbia Heights 62.0 20,247 3.2x 61.5x
50 Mendota Heights 62.67 11,339 3.4x 135.5x
51 Stillwater 63.0 19,471 3.3x 84.8x
52 Chaska 63.33 26,753 3.2x 77.7x
53 Blaine 63.67 65,048 2.8x 58.8x
54 Arden Hills 64.33 10,276 2.8x 68.8x
55 Andover 64.33 33,019 2.7x 67.1x
56 Sauk Rapids 64.67 13,926 3.4x 67.4x
57 Ham Lake 65.17 16,630 3.3x 89.4x
58 Oakdale 65.33 27,925 3.1x 67.7x
59 Shakopee 65.67 41,423 3.1x 74.7x
60 Crystal 66.0 22,937 3.0x 62.5x
61 South St. Paul 68.0 20,132 3.3x 70.4x
62 Faribault 68.0 23,853 3.1x 60.0x
63 Monticello 68.33 13,700 3.0x 65.3x
64 Moorhead 68.67 43,409 3.3x 69.6x
65 Brooklyn Center 69.0 30,755 2.9x 57.2x
66 Lakeville 69.17 65,710 2.9x 76.5x
67 Ramsey 69.33 27,201 2.7x 64.8x
68 Coon Rapids 70.33 62,706 2.8x 63.1x
69 St. Cloud 70.67 68,390 3.1x 61.3x
70 Dayton 72.0 6,258 3.2x 100.8x
71 Waconia 72.33 12,281 3.2x 95.0x
72 Fergus Falls 72.33 13,754 3.3x 66.8x
73 Red Wing 73.0 16,366 3.1x 64.8x
74 Northfield 73.33 20,399 3.5x 85.5x
75 La Crescent 73.67 5,135 3.2x 68.7x
76 Prior Lake 73.67 26,775 3.0x 88.9x
77 Maple Grove 74.33 71,569 2.6x 70.7x
78 Duluth 74.33 85,852 3.1x 63.3x
79 Mound 74.33 9,498 3.4x 91.9x
80 Cambridge 74.5 8,975 2.9x 56.3x
81 Vadnais Heights 75.67 13,565 3.0x 73.5x
82 Lino Lakes 75.67 21,748 2.8x 75.9x
83 Farmington 76.0 22,996 2.8x 74.5x
84 Buffalo 76.0 16,413 3.0x 67.8x
85 Corcoran 76.33 6,113 2.7x 78.2x
86 Shoreview 77.0 26,922 2.9x 78.4x
87 Sartell 77.33 18,439 3.0x 69.7x
88 Lake Elmo 77.67 9,071 3.0x 120.3x
89 New Prague 78.0 8,022 3.2x 90.7x
90 Grand Rapids 78.0 11,218 3.2x 66.5x
91 Oak Grove 78.33 8,819 2.9x 82.8x
92 Baxter 78.67 8,326 3.1x 71.8x
93 East Grand Forks 79.67 8,555 3.5x 84.8x
94 Alexandria 80.0 13,705 3.4x 77.2x
95 Marshall 81.33 13,604 3.2x 70.5x
96 Savage 82.33 31,758 2.8x 85.3x
97 Hastings 82.33 22,796 3.1x 77.2x
98 Cloquet 83.0 11,994 2.8x 60.7x
99 Jordan 84.0 6,289 2.8x 72.8x
100 Rochester 84.0 117,134 2.9x 72.8x

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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.