Inver Grove Heights, MN

Living costs in Inver Grove Heights land close to the national average, with a Cost Index of 109 (where 100 = the US baseline). Housing is the largest variable: the median home value here is $368,056, and typical monthly rents run around $1,447. Groceries and utilities are in line with what you would find in most US cities.

Start with housing. Typical monthly rent is $1,447, while local median household income is $104,055. That implies a rent-burden proxy of about 17% before utilities and other costs. For a specific job offer, filing status, or take-home pay scenario, use salary.city.

Minnesota has a progressive state income tax with a top rate of 9.85%. The effective property tax rate is 1.11%. On a home worth $368,056, that translates to roughly $4,085 per year in property taxes. Sales tax (state + local) averages around 7.54% on everyday purchases.

The typical monthly rent in Inver Grove Heights is around $1,447. That's close to the $1,348 national median. For comparison, the median home value here is $368,056, so buyers should also factor in mortgage payments, property taxes, and insurance.

The median home in Inver Grove Heights is valued at $368,056. With 20% down and a 6.5% mortgage rate, you'd be looking at roughly $1,861/month for principal and interest alone — before property taxes and insurance. About 76% of residents here own their homes.

Grocery prices in Inver Grove Heights are about average compared to the rest of the US (index: 103, where 100 is the national average). Utility bills (electricity, gas, water) are about typical (index: 93). Overall, these everyday costs shouldn't cause major surprises if you're moving from another similarly-sized US city.

Inver Grove Heights is a smaller city with a population of about 35,772. The median age of residents is 41.1, which is close to the national median. The local poverty rate is 4.64%, well below the national average of 12.4%.