Cost of Living in Andover, MN
Population: 32,825 • 2026 Data
$131,528
Median Household Income
+70% vs national
$1,827
Median Monthly Rent
+36% vs national
$389,200
Median Home Value
+15% vs national
2.5%
Unemployment Rate
Housing in Andover
The median home value in Andover, MN is $389,200. Monthly rent for a typical unit averages $1,827, while total monthly housing costs (including utilities and insurance) average $1,862.
Rent-to-income ratio: 16.7%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Andover, MN is $131,528. The unemployment rate stands at 2.5%, with a labor force of 18,390 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.