Housing costs in Gem Lake?
A typical home costs
$537,700, which is 59.0% more expensive than the national average of
$338,100 and 73.7% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Gem Lake costs
$1,400 per month, which is 2.1% cheaper than the national average of
$1,430 and 11.4% more than the state average of
$1,240.
Can I afford Gem Lake?
To live comfortably in Gem Lake, Minnesota, a minimum annual income of
$102,960 for a family, and
$45,600 for a single person is recommended.
What does A.I. say about Gem Lake?
Gem Lake, MN is known for its affordable cost of living. Renting an apartment in the city will typically range from around $750 to $1,200 per month depending on size and location. Groceries are also relatively inexpensive, with a standard cart of food costing roughly $25-$30. Utility costs are generally lower than the national average, and most households pay around $150 or less per month for their electricity and gas bills. Transportation can be costly, as most people rely on cars for transportation around town. However, public transport options such as buses can offer discounted fares when available. Overall, Gem Lake is a great place to live if you're looking for an affordable, livable city with plenty of outdoor activities and amenities.