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Cost of Living in Carver County

Is it better to rent or buy in Carver County? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$137,343
$1,615/mo

Median in area: $1,615

$471,202

Median in area: $471,202

$94,240

If you Rent

🔑
$1,850 /mo
Base Rent$1,615
Est. Utilities$235
% of Income16.2%
Pre-tax Residual$9,595

If you Buy

🏠
$3,359 /mo
P&I (6.944%)$2,494
Taxes & Ins$630
Est. Utilities$235
% of Income29.3%
Pre-tax Residual$8,086

Compare Nearby Areas

See how Carver County stacks up against neighboring areas.

countyWright County, MN
$1,388/mo
countySibley County, MN
$871/mo
countyMcLeod County, MN
$924/mo
countyHennepin County, MN
$1,634/mo
countyScott County, MN
$1,752/mo

Cost of Living FAQs

Is it cheaper to rent or buy in Carver County?›

Based on median housing data, renting is currently more affordable on a monthly basis in Carver County. The estimated all-in monthly cost for renting is $1,850, while owning a median-priced home with a 20% down payment is roughly $3,359 per month (a difference of $1,509).

How much do utilities cost in Carver County?›

The average monthly utility cost (electricity and natural gas) for a typical home in Carver County is approximately $235. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Carver County?›

To comfortably afford the median rent and utilities in Carver County without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $74,000 per year.