Housing costs in Park Rapids?
A typical home costs
$268,500, which is 20.6% less expensive than the national average of
$338,100 and 13.2% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Park Rapids costs
$910 per month, which is 36.4% cheaper than the national average of
$1,430 and 36.3% cheaper than the state average of
$1,240.
Can I afford Park Rapids?
To live comfortably in Park Rapids, Minnesota, a minimum annual income of
$51,480 for a family, and
$27,600 for a single person is recommended.
What does A.I. say about Park Rapids?
Park Rapids, MN is a great place to live with a relatively low cost of living. The median home value is approximately $113,000, which is significantly lower than the national average. Renting in Park Rapids is also very affordable. On average, renters pay about $700/month for a one-bedroom apartment and $850/month for a two-bedroom apartment. Additionally, utilities are generally quite reasonable. Transportation costs are also relatively low–gasoline prices in the area typically stay below the national average. All in all, Park Rapids offers residents an excellent quality of life at an unbeatable price!