salaryRent is higher than in 56% of U.S. cities. Household incomes are higher than in 95% of U.S. cities. A typical house costs about 3.8 years of household income. Most homes (93.2%) are owned, so rentals can be hard to find. It is a highly educated city: 72.1% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $71,080 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 98 of 150 cities from cheapest to most expensive.
How much do households earn in Shorewood?
Share of households by yearly income. 62.6% of households earn $100,000 or more.
Rent by apartment size in Shorewood
| Size | Shorewood | U.S. average |
|---|---|---|
| 1 bedroom | $2,339 | $1,324 |
| 2 bedrooms | $1,542 | $1,509 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Shorewood 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 Shorewood, so the Minnesota figure is shown.
Taxes and bills in Shorewood
Life in Shorewood
Is it cheaper to rent or buy in Shorewood?
Renting is cheaper right now: about $3,102 a month less.
Owning assumes a typical $703,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $70,320 for the down payment.
Frequently asked questions
What is the average rent in Shorewood, MN?
Renting in Shorewood costs a median of about $1,777 a month in 2026, including utilities. The Minnesota median is $1,525.
How much do I need to make to live in Shorewood?
To keep rent under 30% of income, you need about $71,080 a year, or $34 an hour at a full-time job.
Is Shorewood cheap or expensive?
Shorewood is rated Cheap: rent takes 11.6% of the typical household income of $184,491. It ranks 98th cheapest of 150 Minnesota cities we track.
How much are property taxes in Shorewood?
The median homeowner in Shorewood pays $7,414 a year in property taxes, about 1.05% of the median home value.
Is Shorewood 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 Shorewood?
The median home value in Shorewood is $703,200, about 3.8 times the typical yearly household income.
7,647 people live in Shorewood. Numbers are typical (middle) values.