Cost of Living in Carver County, Minnesota
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Carver County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Carver County ranks #2,995 of 3,142 counties for affordability (bottom 5%)
Sourced county brief
Median Home Value in Carver County Reaches $453,600
Median home value in Carver County is $453,600, which is $215,264 above the Minnesota unweighted county mean of $238,336. The official rent burden (GRAPI) was estimated at 26.5%, placing it 0.8 percentage points below the state unweighted county mean of 27.3%. Median gross rent is $1,514 per month, which is $576 higher than the Minnesota unweighted county mean of $938. Monthly costs for all owner-occupied units are $2,034, while the state unweighted county mean is $1,116. Renter-household median income is $68,811. The 26.5% rent-to-income percentage reported here is the official ACS B25071 GRAPI figure. This data provides a snapshot of costs and income within the county across the 5-year estimate period. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Carver County
Affordability Verdict
ACS B25071 estimates median gross rent at 26.5% of renter household income in Carver County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,514 per month; median selected monthly owner costs are $2,034. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $60,560 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Minnesota unweighted mean of county median rents is $938 per month. Carver County's $1,514 median is 61.4% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Carver County
Rent Burden
14.4%
of gross income
Max Housing (28% Rule)
$2,939
per month
Owner Cost Burden
19.4%
of gross income
The median home in Carver County may be a stretch
Median home value is $453,600. Estimated monthly cost: $3,621 vs. your max of $2,939.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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