Cost of Living in Baxter, MN: Rent, Income & Home Prices

OKRent takes 20 cents of every $1 people earn here.

🏠 Rent per month (2026)$1,30126% lower than U.S. average

💵 Families earn per year (2026)$76,237about $6,353/month · 12% lower than U.S. average

🔑 House price$324,1003% lower than U.S. average

Rent is lower than in 69% of U.S. cities. A typical house costs about 4.3 years of household income. Commutes are short, about 19.2 minutes.

How much money do I need?

To rent here comfortably, you should earn about $52,040 a year. That is $25 an hour at a full-time job.

Is rent cheaper than other Minnesota cities?

Yes. Rent here is cheaper than in most of Minnesota. It is number 44 of 150 cities from cheapest to most expensive.

Baxter

$1,301

$876

$1,826

$1,920

$815

$826

$2,258

How much do households earn in Baxter?

Under $25k

14.5%

$25k–50k

23.7%

$50k–100k

27.7%

$100k–150k

20.9%

$150k+

8.9%

Share of households by yearly income. 29.8% of households earn $100,000 or more.

Rent by apartment size in Baxter

Size	Baxter	U.S. average
Studio	$1,453	$1,338
1 bedroom	$1,177	$1,324
2 bedrooms	$1,304	$1,509
3 bedrooms	$1,244	$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Baxter overall?

Everyday prices in Minnesota overall are 1% below the U.S. average (index 98.6, U.S. = 100).

Housing

Goods (food, clothes…)

101

Utilities

Other services

100

U.S. average

100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Baxter, so the Minnesota figure is shown.

Taxes and bills in Baxter

🏛️ Property tax$3,025a year · 0.93% of home value · U.S. $3,119

⚡ Electric bill$114a month (typical) · U.S. $156

Life in Baxter

Commute to work19.2 minU.S.: 26.4 min

College degree38.3%U.S.: 35.7%

Own their home62.6%U.S.: 65.2%

Below poverty line13.1%U.S.: 12.5%

Unemployment2.3%U.S.: 5.2%

Is it cheaper to rent or buy in Baxter?

Renting is cheaper right now: about $948 a month less.

Renting

$1,301

Owning

$2,249

Owning assumes a typical $324,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $32,410 for the down payment.

Frequently asked questions

What is the average rent in Baxter, MN?

Renting in Baxter costs a median of about $1,301 a month in 2026, including utilities. The Minnesota median is $1,525.

How much do I need to make to live in Baxter?

To keep rent under 30% of income, you need about $52,040 a year, or $25 an hour at a full-time job.

Is Baxter cheap or expensive?

Baxter is rated OK: rent takes 20.5% of the typical household income of $76,237. It ranks 44th cheapest of 150 Minnesota cities we track.

How much are property taxes in Baxter?

The median homeowner in Baxter pays $3,025 a year in property taxes, about 0.93% of the median home value.

Is Baxter more expensive than the national average?

Overall prices in Minnesota are 1% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Baxter?

The median home value in Baxter is $324,100, about 4.3 times the typical yearly household income.

8,966 people live in Baxter. Numbers are typical (middle) values.

Is Baxter, MN expensive to live in?