States › Minnesota › Waconia

Is Waconia, MN expensive to live in?

CheapRent takes 15 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,47116% lower than U.S. average
💵 Families earn per year (2026)$119,747about $9,979/month · 38% higher than U.S. average
🔑 House price$431,00030% higher than U.S. average

Rent is lower than in 59% of U.S. cities. A typical house costs about 3.6 years of household income. Most homes (80.3%) are owned, so rentals can be hard to find.

How much money do I need?

To rent here comfortably, you should earn about $58,840 a year. That is $28 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 68 of 150 cities from cheapest to most expensive.

Waconia
$1,471
Rogers
$2,248
Lake Elmo
$2,662
Worthington
$1,223
Sauk Rapids
$943
Marshall
$811
Mounds View
$1,768

How much do households earn in Waconia?

Under $25k
4.8%
$25k–50k
21.6%
$50k–100k
25.1%
$100k–150k
26.1%
$150k+
20.2%

Share of households by yearly income. 46.2% of households earn $100,000 or more.

Rent by apartment size in Waconia

SizeWaconiaU.S. average
Studio$1,205$1,338
1 bedroom$1,149$1,324
2 bedrooms$1,632$1,509
3 bedrooms$1,736$1,698

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

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

Taxes and bills in Waconia

🏛️ Property tax$4,392a year · 1.02% of home value · U.S. $3,119
⚡ Electric bill$123a month (typical) · U.S. $156

Life in Waconia

Commute to work25.2 minU.S.: 26.4 min
College degree48.9%U.S.: 35.7%
Own their home80.3%U.S.: 65.2%
Below poverty line4.1%U.S.: 12.5%
Unemployment4.4%U.S.: 5.2%

Is it cheaper to rent or buy in Waconia?

Renting is cheaper right now: about $1,520 a month less.

Renting
$1,471
Owning
$2,991

Owning assumes a typical $431,000 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $43,100 for the down payment.

Frequently asked questions

What is the average rent in Waconia, MN?

Renting in Waconia costs a median of about $1,471 a month in 2026, including utilities. The Minnesota median is $1,525.

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

To keep rent under 30% of income, you need about $58,840 a year, or $28 an hour at a full-time job.

Is Waconia cheap or expensive?

Waconia is rated Cheap: rent takes 14.7% of the typical household income of $119,747. It ranks 68th cheapest of 150 Minnesota cities we track.

How much are property taxes in Waconia?

The median homeowner in Waconia pays $4,392 a year in property taxes, about 1.02% of the median home value.

Is Waconia 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 Waconia?

The median home value in Waconia is $431,000, about 3.6 times the typical yearly household income.

13,434 people live in Waconia. Numbers are typical (middle) values.