Housing costs in Independence?
A typical home costs
$621,700, which is 83.9% more expensive than the national average of
$338,100 and 100.9% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Independence costs
$1,220 per month, which is 14.7% cheaper than the national average of
$1,430 and close to the state average of
$1,240.
Can I afford Independence?
To live comfortably in Independence, Minnesota, a minimum annual income of
$119,160 for a family, and
$39,600 for a single person is recommended.
What does A.I. say about Independence?
Independence, MN is an affordable place to live. The cost of living in the city is significantly lower than the state and national averages. Housing costs are among the lowest in the region, as well as utilities, food, healthcare, and transportation. Income taxes are low as well, with a flat rate of just 5.35%. This makes Independence a great choice for those looking for an affordable place to live while still enjoying quality amenities and services.