Grand Rapids, MN

Very Low · 68

Minnesota · Population 11,186 · Updated March 2026

$999
Median Rent / Month
$56,542
Median Income
$200,600
Median Home Value
$997
Owner Costs / Month

Affordability

How far your income goes in Grand Rapids

21.2%
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

$11,988
Annual Rent
$5,569
State Income Tax
$2,227
Property Tax (est.)

Cost of Living Overview

Grand Rapids is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 68 (where 100 equals the national median), Grand Rapids residents can expect to pay median rent of $999/month while earning a median household income of $56,542/year.

The median home value in Grand Rapids, MN is $200,600, with typical monthly owner costs around $997 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.2% 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 Grand Rapids.

Frequently Asked Questions

Common questions about living costs in Grand Rapids

What is the cost of living in Grand Rapids, MN?
The cost of living index in Grand Rapids, MN is 68 (US average = 100). Median monthly rent is $999, median household income is $56,542/year, and the median home value is $200,600.
Is Grand Rapids, MN affordable?
Yes, Grand Rapids is more affordable than the national average with a cost index of 68. The rent-to-income ratio is 21.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Grand Rapids, MN?
The median gross rent in Grand Rapids, MN is $999 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,988.
What is the median household income in Grand Rapids?
The median household income in Grand Rapids, MN is $56,542 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%.