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

CheapRent takes 11 cents of every $1 people earn here.

🏠 Rent per month (2026)$1,52513% lower than U.S. average

💵 Families earn per year (2026)$159,291about $13,274/month · 83% higher than U.S. average

🔑 House price$445,80034% higher than U.S. average

Rent is lower than in 56% of U.S. cities. Household incomes are higher than in 92% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are long, about 30.6 minutes each way. Most homes (93.4%) are owned, so rentals can be hard to find. It is a highly educated city: 65.4% of adults have a college degree.

How much money do I need?

To rent here comfortably, you should earn about $61,000 a year. That is $29 an hour at a full-time job.

Is rent cheaper than other Minnesota cities?

No. Rent here is more expensive than in most of Minnesota. It is number 76 of 150 cities from cheapest to most expensive.

Carver

$1,525

$1,546

$1,445

$1,461

$1,255

$1,318

$1,183

How much do households earn in Carver?

Under $25k

6.5%

$25k–50k

8.0%

$50k–100k

28.1%

$100k–150k

25.4%

$150k+

30.6%

Share of households by yearly income. 56.0% of households earn $100,000 or more.

How expensive is Carver 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 Carver, so the Minnesota figure is shown.

Taxes and bills in Carver

🏛️ Property tax$4,680a year · 1.05% of home value · U.S. $3,119

⚡ Electric bill$131a month (typical) · U.S. $156

Life in Carver

Commute to work30.6 minU.S.: 26.4 min

College degree65.4%U.S.: 35.7%

Own their home93.4%U.S.: 65.2%

Below poverty line2.5%U.S.: 12.5%

Unemployment3.7%U.S.: 5.2%

Is it cheaper to rent or buy in Carver?

Renting is cheaper right now: about $1,568 a month less.

Renting

$1,525

Owning

$3,093

Owning assumes a typical $445,800 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $44,580 for the down payment.

Frequently asked questions

What is the average rent in Carver, MN?

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

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

To keep rent under 30% of income, you need about $61,000 a year, or $29 an hour at a full-time job.

Is Carver cheap or expensive?

Carver is rated Cheap: rent takes 11.5% of the typical household income of $159,291. It ranks 76th cheapest of 150 Minnesota cities we track.

How much are property taxes in Carver?

The median homeowner in Carver pays $4,680 a year in property taxes, about 1.05% of the median home value.

Is Carver 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 Carver?

The median home value in Carver is $445,800, about 2.8 times the typical yearly household income.

6,239 people live in Carver. Numbers are typical (middle) values.

Is Carver, MN expensive to live in?