Housing costs in Lake City?
A typical home costs
$283,500, which is 16.1% less expensive than the national average of
$338,100 and 8.4% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Lake City costs
$1,000 per month, which is 30.1% cheaper than the national average of
$1,430 and 24.0% cheaper than the state average of
$1,240.
Can I afford Lake City?
To live comfortably in Lake City, Minnesota, a minimum annual income of
$54,360 for a family, and
$35,200 for a single person is recommended.
What does A.I. say about Lake City?
Lake City, MN is a great place to live if you're looking for an affordable cost of living. The cost of housing in Lake City is significantly lower than the national average and most goods and services are reasonably priced as well. Groceries, utilities, transportation costs, and medical care are all quite affordable in this area. In addition, the overall taxes paid in Lake City are slightly lower than the national average. All these factors combined make Lake City a great place to live on a tight budget without sacrificing quality of life.