States › Minnesota › Cambridge

Is Cambridge, MN expensive to live in?

OKRent takes 22 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,34623% lower than U.S. average
💵 Families earn per year (2026)$74,583about $6,215/month · 14% lower than U.S. average
🔑 House price$251,60024% lower than U.S. average

Rent is lower than in 66% of U.S. cities. A typical house costs about 3.4 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $53,840 a year. That is $26 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 48 of 150 cities from cheapest to most expensive.

Cambridge
$1,346
Fairmont
$774
Hermantown
$2,412
Little Canada
$1,792
Detroit Lakes
$861
St. Anthony
$1,510
Arden Hills
$3,476

How much do households earn in Cambridge?

Under $25k
15.4%
$25k–50k
26.0%
$50k–100k
35.7%
$100k–150k
12.1%
$150k+
6.6%

Share of households by yearly income. 18.7% of households earn $100,000 or more.

Rent by apartment size in Cambridge

SizeCambridgeU.S. average
Studio$1,375$1,338
1 bedroom$1,215$1,324
2 bedrooms$1,560$1,509
3 bedrooms$1,375$1,698

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

How expensive is Cambridge overall?

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

Housing
91
Goods (food, clothes…)
101
Utilities
91
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 Cambridge, so the Minnesota figure is shown.

Taxes and bills in Cambridge

🏛️ Property tax$3,248a year · 1.29% of home value · U.S. $3,119
⚡ Electric bill$128a month (typical) · U.S. $156

Life in Cambridge

Commute to work28.1 minU.S.: 26.4 min
College degree18.8%U.S.: 35.7%
Own their home65.8%U.S.: 65.2%
Below poverty line10.5%U.S.: 12.5%
Unemployment3.4%U.S.: 5.2%

Is it cheaper to rent or buy in Cambridge?

Renting is cheaper right now: about $400 a month less.

Renting
$1,346
Owning
$1,746

Owning assumes a typical $251,600 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $25,160 for the down payment.

Frequently asked questions

What is the average rent in Cambridge, MN?

Renting in Cambridge costs a median of about $1,346 a month in 2026, including utilities. The Minnesota median is $1,525.

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

To keep rent under 30% of income, you need about $53,840 a year, or $26 an hour at a full-time job.

Is Cambridge cheap or expensive?

Cambridge is rated OK: rent takes 21.7% of the typical household income of $74,583. It ranks 48th cheapest of 150 Minnesota cities we track.

How much are property taxes in Cambridge?

The median homeowner in Cambridge pays $3,248 a year in property taxes, about 1.29% of the median home value.

Is Cambridge 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 Cambridge?

The median home value in Cambridge is $251,600, about 3.4 times the typical yearly household income.

10,307 people live in Cambridge. Numbers are typical (middle) values.