Cost of Living in Murray County, Minnesota
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Murray County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Murray County ranks #27 of 3,144 counties for affordability (top 1%)
Data Story
About Cost of Living in Murray County, Minnesota
Murray punches above its weight nationwide
Murray County boasts the lowest rent-to-income ratio in this eight-county dataset at just 12.4%, meaning renters here keep more income in their pockets than typical Americans or Minnesotans. With a median household income of $74,475—nearly matching the national $74,755 median—this county delivers the rare combination of fair pay and genuinely affordable housing.
Minnesota's affordability champion here
At 12.4%, Murray County's rent-to-income ratio is the best-performing among all eight counties profiled, significantly outpacing Minnesota's 14.5% state average. Renters here spend roughly $768 monthly—$147 below the state average—while earning household incomes that align with the state median.
Clear affordability leader in the region
Murray County's $768 rent and 12.4% burden ratio beat all neighboring counties in this analysis, from Morrison's $782 to Nobles' higher $863 monthly cost. Its $74,475 median household income, combined with rock-bottom rents, makes it the region's most balanced housing market.
Both renters and owners get deals
Murray County renters allocate just 12.4% of income to housing at $768 monthly, while owners spend roughly 13.4% on mortgages for homes valued at $179,400. This county stands alone in offering genuine affordability for both housing types, a rarity in modern Minnesota.
Minnesota's best housing bargain awaits
If affordability is your priority, Murray County delivers: $768 rents, $179,400 home values, and a 12.4% rent burden—the lowest in this eight-county sample. Weigh it against pricier neighbors like Nicollet ($931 rent, $258,500 homes) or Olmsted ($1,283 rent, $304,500 homes) to see the real difference location makes.
Cost of Living Advisory: Murray County
Affordability Verdict
Murray County offers affordable rental housing at a median of $768/month — about 12.4% of the typical household income here.
Rent vs. Own
Renters in Murray County pay $768/month on average, compared to $834/month for homeowners. This market favors renters by about 8%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $30,720/year. For owner costs at the 28% rule, the required income is roughly $35,743/year. With a median household income of $74,475, most households can comfortably afford rent here. Notably, 20.0% of renter households in Murray County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Minnesota, Murray County is less affordable than Waseca County by roughly 6% ($768/mo vs $819/mo).
Affordability Calculator
See how your income compares to housing costs in Murray County
Rent Burden
12.4%
of gross income
Max Housing (28% Rule)
$1,738
per month
Owner Cost Burden
13.4%
of gross income
You can likely afford the median home in Murray County
Median home value is $179,400. Estimated monthly cost: $1,432 vs. your max of $1,738.
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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