Hutchinson, MN

Very Low · 67

Minnesota · Population 14,629 · Updated March 2026

$933
Median Rent / Month
$71,730
Median Income
$210,300
Median Home Value
$1,004
Owner Costs / Month

Affordability

How far your income goes in Hutchinson

15.6%
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

$11,196
Annual Rent
$7,065
State Income Tax
$2,334
Property Tax (est.)

Cost of Living Overview

Hutchinson is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 67 (where 100 equals the national median), Hutchinson residents can expect to pay median rent of $933/month while earning a median household income of $71,730/year.

The median home value in Hutchinson, MN is $210,300, with typical monthly owner costs around $1,004 including mortgage, insurance, and taxes. The median rent-to-income ratio of 15.6% 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 Hutchinson.

Frequently Asked Questions

Common questions about living costs in Hutchinson

What is the cost of living in Hutchinson, MN?
The cost of living index in Hutchinson, MN is 67 (US average = 100). Median monthly rent is $933, median household income is $71,730/year, and the median home value is $210,300.
Is Hutchinson, MN affordable?
Yes, Hutchinson is more affordable than the national average with a cost index of 67. The rent-to-income ratio is 15.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Hutchinson, MN?
The median gross rent in Hutchinson, MN is $933 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,196.
What is the median household income in Hutchinson?
The median household income in Hutchinson, MN is $71,730 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%.