Housing costs in Lima?
A typical home costs
$195,900, which is 42.1% less expensive than the national average of
$338,100 and 36.7% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Lima costs
$880 per month, which is 38.5% more than the national average of
$1,430 and 40.9% more than the state average of
$1,240.
Can I afford Lima?
To live comfortably in Lima, Minnesota, a minimum annual income of
$37,440 for a family, and
$31,200 for a single person is recommended.
What does A.I. say about Lima?
The cost of living in Lima, MN is generally lower than other parts of the country. The median home value is slightly below the US average at $144,000 and the median household income is higher than the US average at $62,714. The cost of food and transportation are also lower than most places in the United States. This makes living in Lima an affordable option for many people looking to relocate or start a business. In addition, there are plenty of amenities available in town such as parks and recreation centers to keep residents entertained. Overall, Lima provides a convenient, yet affordable option for those looking to move to the area.