Housing costs in Lakeland?
A typical home costs
$358,900, which is 6.2% more expensive than the national average of
$338,100 and 16.0% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Lakeland costs
$1,440 per month, which is 0.7% more than the national average of
$1,430 and 13.9% more than the state average of
$1,240.
Can I afford Lakeland?
To live comfortably in Lakeland, Minnesota, a minimum annual income of
$68,760 for a family, and
$47,200 for a single person is recommended.
What does A.I. say about Lakeland?
The cost of living in Lakeland, MN is very affordable. The median home price in the city is around $200,000 and the median rental price is about $1,400 a month. Taxes are relatively low, and utility costs for heat and electricity are lower than many of the surrounding areas. Groceries, health care, transportation costs and other necessities for everyday life are all quite reasonable as well. All in all, the cost of living in Lakeland is quite low when compared to other cities within Minnesota and across the United States.