Cost of Living in Lyon County, Minnesota
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Lyon County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Lyon County ranks #288 of 3,144 counties for affordability (top 9%)
Data Story
About Cost of Living in Lyon County, Minnesota
Lyon County outpaces national affordability
At 12.2% of income spent on rent, Lyon County residents enjoy better housing affordability than the national average of 14.5%. The median household income of $72,761 sits close to the national median of $74,755, making this a solidly accessible market.
Top-tier affordability in Minnesota
Lyon County's 12.2% rent-to-income ratio places it among Minnesota's most affordable counties, beating the state average of 14.5%. At $742 per month, median rent is $173 below the state median, offering genuine savings for renters.
Lyon County leads the southwest region
Lyon County's $742 monthly rent undercuts Lincoln County ($688—a rural outlier) but beats Marshall County ($737) and Martin County ($735) by modest margins. For homebuyers, the median home price of $193,100 is reasonable for the region, balancing affordability with proximity to services.
Balanced costs for renters and owners
Renters allocate $742 monthly while homeowners pay $934, consuming 12.2% and 15.4% of the $72,761 median household income respectively. Both figures sit near or below state averages, leaving healthy income for savings and discretionary spending.
Lyon County beckons rural-minded relocators
With strong affordability metrics and a balanced cost structure, Lyon County offers stability for renters and first-time homebuyers alike. Stack this profile against comparable Minnesota counties to confirm it matches your budget and lifestyle.
Cost of Living Advisory: Lyon County
Affordability Verdict
For renters in Lyon County, the market is affordable. Expect to pay around $742/month in gross rent, with 26.0% of renter households considered cost-burdened.
Rent vs. Own
The median rent in Lyon County is $742/month, while owner costs run $934/month. Renting saves approximately $192/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $29,680/year. For owner costs at the 28% rule, the required income is roughly $40,029/year. With a median household income of $72,761, most households can comfortably afford rent here. Notably, 26.0% of renter households in Lyon County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Minnesota, Lyon County is more affordable than Lincoln County by roughly 8% ($742/mo vs $688/mo).
Affordability Calculator
See how your income compares to housing costs in Lyon County
Rent Burden
12.2%
of gross income
Max Housing (28% Rule)
$1,698
per month
Owner Cost Burden
15.4%
of gross income
You can likely afford the median home in Lyon County
Median home value is $193,100. Estimated monthly cost: $1,542 vs. your max of $1,698.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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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 (2019-2023) — Informational only. Not financial or legal advice.
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