Housing costs in Wakefield?
A typical home costs
$480,400, which is 42.1% more expensive than the national average of
$338,100 and 55.2% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Wakefield costs
$1,020 per month, which is 28.7% cheaper than the national average of
$1,430 and 21.6% cheaper than the state average of
$1,240.
Can I afford Wakefield?
To live comfortably in Wakefield, Minnesota, a minimum annual income of
$92,160 for a family, and
$32,800 for a single person is recommended.
What does A.I. say about Wakefield?
Wakefield, MN is known for its low cost of living. This is due to the area’s affordable housing and lack of income taxes. Housing prices are significantly lower than the national average, ranging from $90,000 to $250,000. The median home value in Wakefield is just over $115,000. Additionally, local goods and services are also quite inexpensive due to the population size and low costs of production. Groceries tend to be about 10% lower than the national average while health care expenses are about 14% lower than the national average. When combined with a median household income over $52,000 per year, Wakefield offers residents a comfortable lifestyle at an affordable price.