Everyone is looking for ways to stretch their dollars nowadays, and finding an affordable place to call home is an essential part of that quest.

One of the biggest chunks of most people's budget goes toward basic and necessary living expenses. For this list of the cheapest places to live in Minnesota, using EPI data, we focused solely on the seven main areas of expense individuals and families face:

  • Housing
  • Food
  • Child Care
  • Transportation
  • Health Care
  • Other Necessities
  • Taxes

RELATED: 20 Safest Cities in Minnesota For 2024

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How Much Does It Cost To Live in Minnesota?

Living expenses vary quite a bit depending on location, still, according to MIT's living wage calculator, the statewide average annual cost for a family of four with two working parents is $106,353. The living hourly wage for a family of four in Minnesota is $29.42 per working parent -- a combined annual salary of $122,387.

Minnesota's Total Living Expense Compared to the Rest of the Country

The average annual expense for a family of 4 in the United States is about $101,514, which means the cost to live in Minnesota is 4.5 percent higher than the national average. As a whole, Minnesota ranks 29th in the country for affordability, according to US News.

What is the Total Living Expense in Major Minnesota Metro Areas?

Before we get into the list of places with the lowest total living expense in Minnesota, let's take a quick look at the average total annual expense for a family of four in some of the bigger metro areas of the North Star State:

  • Twin Cities metro: $119,229
  • Rochester metro: $123,640
  • Duluth metro: 101,940
  • St. Cloud metro: $99,166
  • Mankato metro: 103,886

20 Cheapest Places to Live in Minnesota for 2024

Minnesota Now has compiled a list of the most budget-friendly places to call home in the Land of 10,000 Lakes for 2024. The list is based solely on the sum of seven basic and necessary expenses for a family of four (two parents, two kids): housing, food, child care, transportation, health care, other necessities, and taxes -- as provided in the latest EPI dataset.

Gallery Credit: Minnesota Now

The 20 Safest Cities in Minnesota For 2024

Looking for a slice of peace in Minnesota? These 20 Minnesota cities boast low crime rates and a welcoming vibe. Using the latest FBI crime data available, Safewise has ranked the safest cities in Minnesota.

Gallery Credit: Minnesota Now