Big Lake, MN

Average · 103

Minnesota · Population 12,115 · Updated March 2026

$1,417
Median Rent / Month
$113,333
Median Income
$291,700
Median Home Value
$1,740
Owner Costs / Month

Affordability

How far your income goes in Big Lake

15.0%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Minnesota

State-level tax rates that affect your costs

9.85%
Income Tax (Top Rate)
6.875%
Sales Tax
1.11%
Property Tax Rate

Estimated Annual Costs

$17,004
Annual Rent
$11,163
State Income Tax
$3,238
Property Tax (est.)

Cost of Living Overview

Big Lake has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 103 (where 100 equals the national median), Big Lake residents can expect to pay median rent of $1,417/month while earning a median household income of $113,333/year.

The median home value in Big Lake, MN is $291,700, with typical monthly owner costs around $1,740 including mortgage, insurance, and taxes. The median rent-to-income ratio of 15.0% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Minnesota's top income tax rate of 9.85% is among the highest in the nation, adding to the overall cost burden. Combined with a 6.875% sales tax rate and 1.11% effective property tax rate, the overall tax environment is a factor in the total cost of living in Big Lake.

Frequently Asked Questions

Common questions about living costs in Big Lake

What is the cost of living in Big Lake, MN?
The cost of living index in Big Lake, MN is 103 (US average = 100). Median monthly rent is $1,417, median household income is $113,333/year, and the median home value is $291,700.
Is Big Lake, MN affordable?
No, Big Lake is more expensive than the national average with a cost index of 103. The rent-to-income ratio is 15.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Big Lake, MN?
The median gross rent in Big Lake, MN is $1,417 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,004.
What is the median household income in Big Lake?
The median household income in Big Lake, MN is $113,333 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Minnesota?
Minnesota has a top income tax rate of 9.85%, a sales tax of 6.875%, and an effective property tax rate of 1.11%.