Hibbing, MN

Very Low · 48

Minnesota · Population 16,100 · Updated March 2026

$739
Median Rent / Month
$55,463
Median Income
$123,900
Median Home Value
$732
Owner Costs / Month

Affordability

How far your income goes in Hibbing

16.0%
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

$8,868
Annual Rent
$5,463
State Income Tax
$1,375
Property Tax (est.)

Cost of Living Overview

Hibbing is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 48 (where 100 equals the national median), Hibbing residents can expect to pay median rent of $739/month while earning a median household income of $55,463/year.

The median home value in Hibbing, MN is $123,900, with typical monthly owner costs around $732 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.0% 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 Hibbing.

Frequently Asked Questions

Common questions about living costs in Hibbing

What is the cost of living in Hibbing, MN?
The cost of living index in Hibbing, MN is 48 (US average = 100). Median monthly rent is $739, median household income is $55,463/year, and the median home value is $123,900.
Is Hibbing, MN affordable?
Yes, Hibbing is more affordable than the national average with a cost index of 48. The rent-to-income ratio is 16.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Hibbing, MN?
The median gross rent in Hibbing, MN is $739 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $8,868.
What is the median household income in Hibbing?
The median household income in Hibbing, MN is $55,463 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%.