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Cost of Living in Olmsted County

Is it better to rent or buy in Olmsted 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.

$105,175
$1,406/mo

Median in area: $1,406

$343,883

Median in area: $343,883

$68,777

If you Rent

🔑
$1,619 /mo
Base Rent$1,406
Est. Utilities$213
% of Income18.5%
Pre-tax Residual$7,146

If you Buy

🏠
$2,480 /mo
P&I (7.026%)$1,835
Taxes & Ins$432
Est. Utilities$213
% of Income28.3%
Pre-tax Residual$6,284

Compare Nearby Areas

See how Olmsted County stacks up against neighboring areas.

countyMower County, MN
$965/mo
countyWinona County, MN
$895/mo
countyFillmore County, MN
$782/mo
countyDodge County, MN
$1,087/mo
countyWabasha County, MN
$846/mo

Cost of Living FAQs

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

Based on median housing data, renting is currently more affordable on a monthly basis in Olmsted County. The estimated all-in monthly cost for renting is $1,619, while owning a median-priced home with a 20% down payment is roughly $2,480 per month (a difference of $861).

How much do utilities cost in Olmsted County?›

The average monthly utility cost (electricity and natural gas) for a typical home in Olmsted County is approximately $213. This estimate uses local utility rate schedules combined with median energy consumption profiles.

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

To comfortably afford the median rent and utilities in Olmsted County without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $64,760 per year.