Shoreview, MN

Average · 109

Minnesota · Population 26,724 · Updated March 2026

$1,502
Median Rent / Month
$109,399
Median Income
$365,100
Median Home Value
$1,455
Owner Costs / Month

Affordability

How far your income goes in Shoreview

16.5%
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

$18,024
Annual Rent
$10,776
State Income Tax
$4,053
Property Tax (est.)

Cost of Living Overview

Shoreview is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 109 (where 100 equals the national median), Shoreview residents can expect to pay median rent of $1,502/month while earning a median household income of $109,399/year.

The median home value in Shoreview, MN is $365,100, with typical monthly owner costs around $1,455 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.5% 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 Shoreview.

Frequently Asked Questions

Common questions about living costs in Shoreview

What is the cost of living in Shoreview, MN?
The cost of living index in Shoreview, MN is 109 (US average = 100). Median monthly rent is $1,502, median household income is $109,399/year, and the median home value is $365,100.
Is Shoreview, MN affordable?
No, Shoreview is more expensive than the national average with a cost index of 109. The rent-to-income ratio is 16.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Shoreview, MN?
The median gross rent in Shoreview, MN is $1,502 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $18,024.
What is the median household income in Shoreview?
The median household income in Shoreview, MN is $109,399 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%.