States › Minnesota › Inver Grove Heights

Is Inver Grove Heights, MN expensive to live in?

OKRent takes 22 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,98013% higher than U.S. average
💵 Families earn per year (2026)$109,269about $9,106/month · 25% higher than U.S. average
🔑 House price$363,4009% higher than U.S. average

Rent is higher than in 68% of U.S. cities. A typical house costs about 3.3 years of household income. Most homes (76.9%) are owned, so rentals can be hard to find.

How much money do I need?

To rent here comfortably, you should earn about $79,200 a year. That is $38 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 117 of 150 cities from cheapest to most expensive.

Inver Grove Heights
$1,980
Roseville
$1,369
Richfield
$1,553
Andover
$2,253
Savage
$2,041
Brooklyn Center
$1,511
Maplewood
$1,682

How much do households earn in Inver Grove Heights?

Under $25k
6.9%
$25k–50k
16.5%
$50k–100k
34.9%
$100k–150k
22.7%
$150k+
16.9%

Share of households by yearly income. 39.6% of households earn $100,000 or more.

Rent by apartment size in Inver Grove Heights

SizeInver Grove HeightsU.S. average
Studio$1,137$1,338
1 bedroom$1,441$1,324
2 bedrooms$1,693$1,509
3 bedrooms$2,070$1,698
4 bedrooms$1,831$2,098

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

How expensive is Inver Grove Heights 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 Inver Grove Heights, so the Minnesota figure is shown.

Taxes and bills in Inver Grove Heights

🏛️ Property tax$3,464a year · 0.95% of home value · U.S. $3,119
⚡ Electric bill$148a month (typical) · U.S. $156

Life in Inver Grove Heights

Commute to work22.3 minU.S.: 26.4 min
College degree43.5%U.S.: 35.7%
Own their home76.9%U.S.: 65.2%
Below poverty line4.9%U.S.: 12.5%
Unemployment3.6%U.S.: 5.2%

Is it cheaper to rent or buy in Inver Grove Heights?

Renting is cheaper right now: about $541 a month less.

Renting
$1,980
Owning
$2,521

Owning assumes a typical $363,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $36,340 for the down payment.

Frequently asked questions

What is the average rent in Inver Grove Heights, MN?

Renting in Inver Grove Heights costs a median of about $1,980 a month in 2026, including utilities. The Minnesota median is $1,525.

How much do I need to make to live in Inver Grove Heights?

To keep rent under 30% of income, you need about $79,200 a year, or $38 an hour at a full-time job.

Is Inver Grove Heights cheap or expensive?

Inver Grove Heights is rated OK: rent takes 21.7% of the typical household income of $109,269. It ranks 117th cheapest of 150 Minnesota cities we track.

How much are property taxes in Inver Grove Heights?

The median homeowner in Inver Grove Heights pays $3,464 a year in property taxes, about 0.95% of the median home value.

Is Inver Grove Heights 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 Inver Grove Heights?

The median home value in Inver Grove Heights is $363,400, about 3.3 times the typical yearly household income.

35,906 people live in Inver Grove Heights. Numbers are typical (middle) values.