Inver Grove Heights, MN

Average · 107

Minnesota · Population 35,772 · Updated March 2026

$1,447
Median Rent / Month
$104,055
Median Income
$352,300
Median Home Value
$1,537
Owner Costs / Month

Affordability

How far your income goes in Inver Grove Heights

16.7%
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

$17,364
Annual Rent
$10,249
State Income Tax
$3,911
Property Tax (est.)

Cost of Living Overview

Inver Grove Heights is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 107 (where 100 equals the national median), Inver Grove Heights residents can expect to pay median rent of $1,447/month while earning a median household income of $104,055/year.

The median home value in Inver Grove Heights, MN is $352,300, with typical monthly owner costs around $1,537 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.7% 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 Inver Grove Heights.

Frequently Asked Questions

Common questions about living costs in Inver Grove Heights

What is the cost of living in Inver Grove Heights, MN?
The cost of living index in Inver Grove Heights, MN is 107 (US average = 100). Median monthly rent is $1,447, median household income is $104,055/year, and the median home value is $352,300.
Is Inver Grove Heights, MN affordable?
No, Inver Grove Heights is more expensive than the national average with a cost index of 107. The rent-to-income ratio is 16.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Inver Grove Heights, MN?
The median gross rent in Inver Grove Heights, MN is $1,447 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,364.
What is the median household income in Inver Grove Heights?
The median household income in Inver Grove Heights, MN is $104,055 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%.