Housing costs in Midway?
A typical home costs
$141,900, which is 58.0% less expensive than the national average of
$338,100 and 54.2% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Midway costs
$810 per month, which is 43.4% cheaper than the national average of
$1,430 and 53.1% cheaper than the state average of
$1,240.
Can I afford Midway?
To live comfortably in Midway, Minnesota, a minimum annual income of
$27,360 for a family, and
$25,200 for a single person is recommended.
What does A.I. say about Midway?
The cost of living in Midway, MN is quite reasonable. According to the most recent Living Wage Report from the Minnesota Department of Employment and Economic Development, the family budget for a four-person household in Midway is $73,716 per year - just slightly above the state median of $72,084. Housing costs are particularly attractive in Midway, with a median home value of around $154,600 and an average rent rate of approximately $1,200. In addition to being affordable, Midway also offers its residents other economic benefits such as low taxes and a range of supportive services. All of these factors make Midway an attractive place to live for families looking for a cost-effective location that still has plenty to offer.