Housing costs in Elba?
A typical home costs
$198,200, which is 41.4% less expensive than the national average of
$338,100 and 36.0% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Elba costs
$900 per month, which is 37.1% cheaper than the national average of
$1,430 and 37.8% cheaper than the state average of
$1,240.
Can I afford Elba?
To live comfortably in Elba, Minnesota, a minimum annual income of
$37,800 for a family, and
$28,800 for a single person is recommended.
What does A.I. say about Elba?
The cost of living in Elba, MN is quite reasonable. It's estimated that the overall cost of living in this area is about 4% lower than the US average. Housing and groceries tend to be the areas where the most savings can be found as rents and food prices remain fairly low. Other everyday expenses such as transportation, health care, and utilities are also on par with the rest of the country. With a median home value of $67,000 and an average household income of $44,000 per year, Elba offers plenty of opportunities for affordable living.