Cost of Living in Inver Grove Heights, MN
Population: 35,772 • 2026 Data
$104,055
Median Household Income
+34% vs national
$1,447
Median Monthly Rent
+7% vs national
$352,300
Median Home Value
+4% vs national
3.6%
Unemployment Rate
Housing in Inver Grove Heights
The median home value in Inver Grove Heights, MN is $352,300. Monthly rent for a typical unit averages $1,447, while total monthly housing costs (including utilities and insurance) average $1,537.
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 Inver Grove Heights, MN is $104,055. The unemployment rate stands at 3.6%, with a labor force of 20,662 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.