Housing costs in Prior Lake?
A typical home costs
$486,900, which is 44.0% more expensive than the national average of
$338,100 and 57.3% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Prior Lake costs
$1,450 per month, which is 1.4% more than the national average of
$1,430 and 14.5% more than the state average of
$1,240.
Can I afford Prior Lake?
To live comfortably in Prior Lake, Minnesota, a minimum annual income of
$93,240 for a family, and
$47,200 for a single person is recommended.
What does A.I. say about Prior Lake?
The cost of living in Prior Lake, MN is slightly higher than the national average, but it is still relatively affordable. Housing costs are a bit higher than the national median, with prices ranging from about $190,000 for a starter home to over $1 million for some of the more luxurious properties. The cost of utilities and transportation are also slightly higher than average, but they remain quite reasonable overall. Taxes are also in line with the national average, making Prior Lake an attractive option for those looking to live in the area without breaking the bank.