Cost of Living in Rochester, MN
Housing
The housing market plays a significant role in determining the cost of living in Rochester, MN.
- Housing Index: 120.0 / 100
- Median Home Price is: $335000
- Average Rent (2 BR Apartment): $1500 per month
- Average Rent (2 BR House): $1600 per month
When considering a move to Rochester, MN, it's essential to analyze the current housing conditions. With a housing index of 120.0, the pricing is above the national average, indicating a competitive market. The median home price of 335000 reflects a strong investment opportunity, though upfront costs are considerable. Meanwhile, the average rent for a 2-bedroom apartment is 1500 and slightly higher for a house at 1600. Given these factors, potential movers should evaluate their budget and long-term housing strategies carefully to ensure a wise decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Rochester, MN.
- Electricity Price: $16.38 USD (median by state)
- Natural Gas Price: $14.87 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Rochester, MN could entail higher utility costs. Electricity costs sit at $16.38, while natural gas is priced at $14.87 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Rochester is a financially viable option for your relocation.