Housing costs in Hoffman?
A typical home costs
$190,100, which is 43.8% less expensive than the national average of
$338,100 and 38.6% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Hoffman costs
$820 per month, which is 42.7% cheaper than the national average of
$1,430 and 51.2% cheaper than the state average of
$1,240.
Can I afford Hoffman?
To live comfortably in Hoffman, Minnesota, a minimum annual income of
$36,360 for a family, and
$25,200 for a single person is recommended.
What does A.I. say about Hoffman?
The cost of living in Hoffman, MN is relatively affordable compared to many other cities in the United States. The median home value is $107,700 and the median rent price is $709, both of which are lower than the national averages. In addition, the overall cost of living index for Hoffman ranks 14 points higher than the US average, meaning that prices for goods and services are cheaper than in other places. Groceries, healthcare costs, and transportation expenses are all below the national average as well. Overall, Hoffman is an excellent option for those looking for an affordable city to call home.