Housing costs in Red Lake Falls?
A typical home costs
$156,400, which is 53.7% less expensive than the national average of
$338,100 and 49.5% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Red Lake Falls costs
$820 per month, which is 42.7% cheaper than the national average of
$1,430 and 51.2% cheaper than the state average of
$1,240.
Can I afford Red Lake Falls?
To live comfortably in Red Lake Falls, Minnesota, a minimum annual income of
$29,880 for a family, and
$25,200 for a single person is recommended.
What does A.I. say about Red Lake Falls?
The cost of living in Red Lake Falls, MN is relatively low compared to other parts of the country. The median home value is around $106,000, and the median rent price is around $800 per month for a two-bedroom apartment. Goods and services are also affordable, with groceries costing about 10% less than the national average and utilities being about 8% lower. This makes Red Lake Falls an attractive place for people looking for a more budget-friendly lifestyle or who want to save money while still enjoying the amenities found in larger cities.