Cost of Living in Olmsted County, Minnesota
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Olmsted County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Olmsted County ranks #2,214 of 3,144 counties for affordability (bottom 30%)
Data Story
About Cost of Living in Olmsted County, Minnesota
Premium location, premium housing costs
Olmsted County's 16.5% rent-to-income ratio is the highest in this eight-county dataset, reflecting a metro-area housing market where rents have climbed sharply above national norms. The county's robust median household income of $93,494—25% above the national $74,755 median—enables residents to absorb these costs, though the burden remains notably heavy.
Minnesota's most expensive housing market
Olmsted County's $1,283 monthly rent and 16.5% rent-to-income ratio top all eight counties profiled and exceed Minnesota's 14.5% state average by a significant margin. This is Minnesota's premier housing market, driven by Rochester's regional economic strength and medical hub status.
Clear regional affordability outlier
Olmsted's $1,283 rent and $304,500 median home value stand dramatically above all peer counties—Nicollet's $931 rent and $258,500 homes are the closest comparables, yet still $350 monthly cheaper and $46,000 less in home value. This county occupies its own tier, reflecting Rochester's status as Minnesota's most robust regional economy.
Highest burden among all eight counties
Olmsted renters dedicate 16.5% of income to $1,283 monthly rent—the steepest ratio in this dataset—while owners allocate roughly 17.7% to mortgages on homes averaging $304,500. Both housing types here demand significantly larger income shares than neighbors, reflecting this county's prosperity-driven price inflation.
Premium living for premium earners
Olmsted County suits those relocating for high-wage Rochester jobs willing to accept premium housing costs; its $93,494 median income supports $1,283 rents and $304,500 home prices. Compare with affordable rural neighbors like Norman County ($752 rent, $69,833 income) to evaluate whether Rochester's economic opportunity justifies this eight-county region's highest housing burden.
Cost of Living Advisory: Olmsted County
Affordability Verdict
For renters in Olmsted County, the market is affordable. Expect to pay around $1,283/month in gross rent, with 29.0% of renter households considered cost-burdened.
Rent vs. Own
Renters in Olmsted County pay $1,283/month on average, compared to $1,378/month for homeowners. This market favors renters by about 7%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $51,320/year. For owner costs at the 28% rule, the required income is roughly $59,057/year. With a median household income of $93,494, most households can comfortably afford rent here. Notably, 29.0% of renter households in Olmsted County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Anoka County where rent averages $1,396/month, Olmsted County is approximately 8% less expensive.
Affordability Calculator
See how your income compares to housing costs in Olmsted County
Rent Burden
16.5%
of gross income
Max Housing (28% Rule)
$2,182
per month
Owner Cost Burden
17.7%
of gross income
The median home in Olmsted County may be a stretch
Median home value is $304,500. Estimated monthly cost: $2,431 vs. your max of $2,182.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
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
What is the cost of living in Olmsted County, Minnesota?
What is the median rent in Olmsted County?
Is Olmsted County affordable?
How does Olmsted County's rent compare to the state average?
What is the median home value in Olmsted County?
Counties with Similar Housing Costs
Planning a Move?
Researching the cost of living in Olmsted County, Minnesota? Compare moving quotes from top providers and save on your relocation.
Compare Moving QuotesCompare Mortgage Rates in Olmsted County
Whether you're buying your first home or refinancing, compare rates from top lenders to find the best deal.
See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
CostByCounty participates in affiliate programs. We may earn a commission when you use our links, at no extra cost to you.