Cost of Living in Savage
Savage's cost of living pairs genuinely moderate home values against a property tax rate running modestly below Minnesota's own statewide cluster.
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Learn moreA real, disclosed divergent housing trend
Zillow's average home value ran $416,016 (up 1.5% YoY, updated June 30, 2026), while Homes.com's median sale price ran a close $425,000 but down 2% year-over-year (updated June 29, 2026) -- a real, disclosed divergence in recent trend direction.
A property tax rate below Minnesota's own statewide cluster
Savage's median effective property tax rate ran 1.07% per Ownwell this pass -- modestly above the 1.02% national median, and modestly below Minnesota's own real, documented 1.04%-1.15% statewide cluster.
A genuinely distinct river-port and manufacturing economy
Savage's economy is anchored by the real Ports of Savage grain terminals (CHS, Ceres Global, Consolidated Grain and Barge Co.) and Fabcon Precast (500+ jobs, headquartered in Savage).
Minnesota's 4-bracket income tax applies regardless
Minnesota's real, progressive 4-bracket state income tax (5.35%-9.85%) applies statewide, including in Savage -- with no local/county piggyback layer.
Key takeaways
- Home values ($416K-$425K depending on source) run genuinely moderate, though sources disagree on direction.
- Effective property tax rate (1.07%) runs modestly below Minnesota's own statewide cluster.
- A genuinely distinct river-port economy (the Ports of Savage) anchors Savage's local employment base.
- Minnesota's statewide 4-bracket income tax applies regardless of city, with no local piggyback layer.
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