Cost of Living in Austin, MN
Population 26,167 · Minnesota · Data vintage 2023
(100 = US avg)
Housing costs in Austin stay well under national norms: a median home value of $155,000 against median household incomes of $66,488 gives the city one of the more comfortable price-to-income ratios in Minnesota.
Located 35 miles southwest of Rochester, Austin falls within that metro's commuting orbit. Median home values run roughly 46% lower than Rochester's $288,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Austin
The median home value in Austin is $155,100 — 49% below the national median of $305,000. Median rent runs $860/month, 35% lower than the national median of $1,314/month. The median household income of $66,488/year is 11% lower than the US median of $74,580. The local unemployment rate is 4.2%, below the national average of 4.8%. Minnesota's top state income tax rate is 9.8% and the combined sales tax is 7.4%. Overall, Austin has a cost of living index of 57 versus the US average of 100, meaning it is 43% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Austin, MN?
Austin has a cost index of 57 (100 = national average). It is 43% below the national average.
What is average rent in Austin, MN?
The median gross rent in Austin is $860 per month based on 2023 Census data.
What is the average home price in Austin?
The median home value in Austin is $155,100 according to Zillow and Census data.
What is the median income in Austin?
The median household income in Austin is $66,488 per year (2023 ACS 5-year estimates).
What is the sales tax in Austin, MN?
The combined state and local sales tax rate in Austin is 7.4%. The Minnesota state income tax top rate is 9.8%.
Is Austin, MN affordable?
Yes, Austin is generally considered affordable, with a cost of living index of 57 — about 43% below the US national average of 100.
Austin at a Glance
- Population
- 26,167
- Median Income
- $66,488
- Home Value
- $155,100
- Median Rent
- $860/mo
- Unemployment
- 4.2%
- Sales Tax
- 7.4%
Nearby Cities
Explore county-level cost of living data
Minnesota Rankings
Similar Cost Cities
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