Cost of Living in Richfield, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
130.0
100 = national avg
+30.0 vs national average
Living Wage (1 Adult)
$57,194
per year
Living Wage (Family of 4)
$135,185
per year
Cost Index by Category
Housing156.6
Food114.2
Transportation104.4
Healthcare111.4
Utilities119.9
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,405
per month
2 Bedroom
$1,709
per month
The overall cost of living index in Richfield is 130.0, which is 30.0% above the national average. Housing costs are above the national average at an index of 156.6. A single adult needs to earn approximately $57,194 per year to cover basic expenses.