salaryRent is higher than in 55% of U.S. cities. A typical house costs about 3.6 years of household income. Most homes (82.6%) are owned, so rentals can be hard to find. It is a highly educated city: 64.7% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $70,560 a year. That is $34 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 95 of 150 cities from cheapest to most expensive.
How much do households earn in Mahtomedi?
Share of households by yearly income. 50.3% of households earn $100,000 or more.
Rent by apartment size in Mahtomedi
| Size | Mahtomedi | U.S. average |
|---|---|---|
| 1 bedroom | $1,316 | $1,324 |
| 2 bedrooms | $2,164 | $1,509 |
| 3 bedrooms | $2,017 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Mahtomedi overall?
Everyday prices in Minnesota overall are 1% below the U.S. average (index 98.6, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Mahtomedi, so the Minnesota figure is shown.
Taxes and bills in Mahtomedi
Life in Mahtomedi
Is it cheaper to rent or buy in Mahtomedi?
Renting is cheaper right now: about $1,539 a month less.
Owning assumes a typical $476,000 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $47,600 for the down payment.
Frequently asked questions
What is the average rent in Mahtomedi, MN?
Renting in Mahtomedi costs a median of about $1,764 a month in 2026, including utilities. The Minnesota median is $1,525.
How much do I need to make to live in Mahtomedi?
To keep rent under 30% of income, you need about $70,560 a year, or $34 an hour at a full-time job.
Is Mahtomedi cheap or expensive?
Mahtomedi is rated Cheap: rent takes 15.9% of the typical household income of $133,000. It ranks 95th cheapest of 150 Minnesota cities we track.
How much are property taxes in Mahtomedi?
The median homeowner in Mahtomedi pays $4,875 a year in property taxes, about 1.02% of the median home value.
Is Mahtomedi 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 Mahtomedi?
The median home value in Mahtomedi is $476,000, about 3.6 times the typical yearly household income.
8,133 people live in Mahtomedi. Numbers are typical (middle) values.