States › Minnesota › Montevideo

Is Montevideo, MN expensive to live in?

CheapRent takes 15 cents of every $1 people earn here.
🏠 Rent per month (2026)$94146% lower than U.S. average
💵 Families earn per year (2026)$73,981about $6,165/month · 15% lower than U.S. average
🔑 House price$141,00058% lower than U.S. average

Rent here is among the lowest 10% of all U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 15.2 minutes.

How much money do I need?

To rent here comfortably, you should earn about $37,640 a year. That is $18 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 14 of 150 cities from cheapest to most expensive.

Montevideo
$941
Princeton
$1,214
La Crescent
$814
North Oaks
$3,500+
St. Paul Park
$2,404
Morris
$1,083
Falcon Heights
$1,298

How much do households earn in Montevideo?

Under $25k
16.8%
$25k–50k
22.3%
$50k–100k
39.0%
$100k–150k
13.1%
$150k+
2.6%

Share of households by yearly income. 15.7% of households earn $100,000 or more.

Rent by apartment size in Montevideo

SizeMontevideoU.S. average
1 bedroom$832$1,324
2 bedrooms$936$1,509
3 bedrooms$980$1,698

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

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

Taxes and bills in Montevideo

🏛️ Property tax$1,649a year · 1.17% of home value · U.S. $3,119
⚡ Electric bill$115a month (typical) · U.S. $156

Life in Montevideo

Commute to work15.2 minU.S.: 26.4 min
College degree19%U.S.: 35.7%
Own their home65.2%U.S.: 65.2%
Below poverty line19.6%U.S.: 12.5%
Unemployment2.3%U.S.: 5.2%

Is it cheaper to rent or buy in Montevideo?

About the same. Renting and owning cost within $37 of each other each month.

Renting
$941
Owning
$978

Owning assumes a typical $141,000 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $14,100 for the down payment.

Frequently asked questions

What is the average rent in Montevideo, MN?

Renting in Montevideo costs a median of about $941 a month in 2026, including utilities. The Minnesota median is $1,525.

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

To keep rent under 30% of income, you need about $37,640 a year, or $18 an hour at a full-time job.

Is Montevideo cheap or expensive?

Montevideo is rated Cheap: rent takes 15.3% of the typical household income of $73,981. It ranks 14th cheapest of 150 Minnesota cities we track.

How much are property taxes in Montevideo?

The median homeowner in Montevideo pays $1,649 a year in property taxes, about 1.17% of the median home value.

Is Montevideo 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 Montevideo?

The median home value in Montevideo is $141,000, about 1.9 times the typical yearly household income.

5,315 people live in Montevideo. Numbers are typical (middle) values.