Housing costs in Forest Lake?
A typical home costs
$379,700, which is 12.3% more expensive than the national average of
$338,100 and 22.7% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Forest Lake costs
$1,380 per month, which is 3.5% cheaper than the national average of
$1,430 and 10.1% more than the state average of
$1,240.
Can I afford Forest Lake?
To live comfortably in Forest Lake, Minnesota, a minimum annual income of
$72,720 for a family, and
$45,200 for a single person is recommended.
What does A.I. say about Forest Lake?
The cost of living in Forest Lake, MN is quite reasonable and affordable. The overall cost of living index for the city is lower than the national average, making it an attractive place to live for those looking for a more budget-friendly option. In terms of housing, the median home price is slightly higher than the national average, but there are plenty of rental options available at much more reasonable prices. Other living expenses such as utilities, groceries, transportation and entertainment are all below the national average. This makes Forest Lake an ideal location for anyone looking for a good value on their living expenses.