Cost of Living in Savage, MN
Population: 32,706 • 2026 Data
$122,646
Median Household Income
+58% vs national
$1,608
Median Monthly Rent
+19% vs national
$395,600
Median Home Value
+17% vs national
4.5%
Unemployment Rate
Housing in Savage
The median home value in Savage, MN is $395,600. Monthly rent for a typical unit averages $1,608, while total monthly housing costs (including utilities and insurance) average $1,875.
Rent-to-income ratio: 15.7%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Savage, MN is $122,646. The unemployment rate stands at 4.5%, with a labor force of 19,709 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.