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The average cost for a knee MRI, which stands for magnetic resonance imaging, is about $770, as of 2014, according to Healthcare Bluebook. This is the price for an MRI with no contrast.
1 A spinal MRI is used to find various spinal problems, including nerve damage or tumors. 2  It typically costs $1,000-$5,000, depending on the part of the spine being scanned and whether the procedure is performed in a hospital or physician's office.