Housing costs in Red Lake?
A typical home costs
$228,000, which is 32.6% less expensive than the national average of
$338,100 and 26.3% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Red Lake costs
$1,050 per month, which is 26.6% cheaper than the national average of
$1,430 and 18.1% cheaper than the state average of
$1,240.
Can I afford Red Lake?
To live comfortably in Red Lake, Minnesota, a minimum annual income of
$43,560 for a family, and
$32,000 for a single person is recommended.
What does A.I. say about Red Lake?
The cost of living in Red Lake, MN is relatively low compared to other parts of the country. The median home cost of $109,400 is well below the national median, and the overall cost of living index is 6% below the national average. Coupled with affordable housing costs, everyday expenses are also relatively low in Red Lake. Grocery prices are 7% lower than the national average, while utilities are a full 13% lower. This means that people living in Red Lake can stretch their dollar further.