Housing costs in Newburg?
A typical home costs
$308,000, which is 8.9% less expensive than the national average of
$338,100 and 0.5% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Newburg costs
$950 per month, which is 33.6% more than the national average of
$1,430 and 30.5% more than the state average of
$1,240.
Can I afford Newburg?
To live comfortably in Newburg, Minnesota, a minimum annual income of
$59,040 for a family, and
$28,800 for a single person is recommended.
What does A.I. say about Newburg?
Newburg, MN is considered to be a relatively affordable place to live. The cost of living is lower than the national average by about 8%, making it attractive for those on a limited budget or trying to save money. Basic necessities are also cheaper in Newburg, with goods and services being significantly less expensive than similar items in other areas. Housing costs in particular are quite low due to ample availability of land and housing options, allowing for more people to find homes that fit their financial needs. With no state income tax, residents can enjoy a higher take-home pay when earning wages as well. The combination of all these factors make Newburg an attractive option for those looking for an affordable place to live.