Cost of Living in Sleepy Eye, MN
Population 3,438 · Minnesota · Data vintage 2023
(100 = US avg)
Sleepy Eye offers a notably favorable income-to-housing ratio for its region. The typical home — $139,000 — costs less than 2.1 times median household income of $64,811, a threshold many coastal markets passed a decade ago. An unemployment rate of 2.7% points to a labor market well on the tight side of the national distribution.
Located 85 miles southwest of Minneapolis, Sleepy Eye is far enough out that local conditions diverge meaningfully from the big-metro baseline. Median home values run roughly 60% lower than Minneapolis' $346,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Sleepy Eye
The median home value in Sleepy Eye is $138,500 — 55% below the national median of $305,000. Median rent runs $757/month, 42% lower than the national median of $1,314/month. The median household income of $64,811/year is 13% lower than the US median of $74,580. The local unemployment rate is 2.7%, 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, Sleepy Eye has a cost of living index of 50 versus the US average of 100, meaning it is 50% less expensive.
Sleepy Eye has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 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 Sleepy Eye, MN?
Sleepy Eye has a cost index of 50 (100 = national average). It is 50% below the national average.
What is average rent in Sleepy Eye, MN?
The median gross rent in Sleepy Eye is $757 per month based on 2023 Census data.
What is the average home price in Sleepy Eye?
The median home value in Sleepy Eye is $138,500 according to Zillow and Census data.
What is the median income in Sleepy Eye?
The median household income in Sleepy Eye is $64,811 per year (2023 ACS 5-year estimates).
What is the sales tax in Sleepy Eye, MN?
The combined state and local sales tax rate in Sleepy Eye is 7.4%. The Minnesota state income tax top rate is 9.8%.
Is Sleepy Eye, MN affordable?
Yes, Sleepy Eye is generally considered affordable, with a cost of living index of 50 — about 50% below the US national average of 100.
Sleepy Eye at a Glance
- Population
- 3,438
- Median Income
- $64,811
- Home Value
- $138,500
- Median Rent
- $757/mo
- Unemployment
- 2.7%
- Sales Tax
- 7.4%
Nearby Cities
Explore county-level cost of living data
Minnesota Rankings
Similar Cost Cities
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