Cost of Living in Richfield, MN
Population 36,725 · Minnesota · Data vintage 2023
(100 = US avg)
Most of Richfield's cost indicators track within a reasonable band of national figures, with median household incomes near $84,055 — a more representative starting point for relocation math than the headline-expensive or headline-cheap cities on either tail.
Geographically, Richfield sits roughly 6 miles south of Minneapolis. Housing prices track closely with Minneapolis' $346,000 median.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Richfield
The median home value in Richfield is $320,400 — 5% above the national median of $305,000. Median rent runs $1,334/month, 2% higher than the national median of $1,314/month. The median household income of $84,055/year is 13% higher than the US median of $74,580. The local unemployment rate is 5.1%, above 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, Richfield has a cost of living index of 104 versus the US average of 100, meaning it is 4% more 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
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Richfield, MN?
Richfield has a cost index of 104 (100 = national average). It is 4% above the national average.
What is average rent in Richfield, MN?
The median gross rent in Richfield is $1,334 per month based on 2023 Census data.
What is the average home price in Richfield?
The median home value in Richfield is $320,400 according to Zillow and Census data.
What is the median income in Richfield?
The median household income in Richfield is $84,055 per year (2023 ACS 5-year estimates).
What is the sales tax in Richfield, MN?
The combined state and local sales tax rate in Richfield is 7.4%. The Minnesota state income tax top rate is 9.8%.
Is Richfield, MN affordable?
Richfield is near the national average in terms of cost of living, with an index of 104 (100 = US average).
Richfield at a Glance
- Population
- 36,725
- Median Income
- $84,055
- Home Value
- $320,400
- Median Rent
- $1,334/mo
- Unemployment
- 5.1%
- Sales Tax
- 7.4%
Nearby Cities
Explore county-level cost of living data
Minnesota Rankings
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