Housing costs in St. Olaf?
A typical home costs
$359,700, which is 6.4% more expensive than the national average of
$338,100 and 16.2% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in St. Olaf costs
$850 per month, which is 40.6% more than the national average of
$1,430 and 45.9% more than the state average of
$1,240.
Can I afford St. Olaf?
To live comfortably in St. Olaf, Minnesota, a minimum annual income of
$68,760 for a family, and
$26,000 for a single person is recommended.
What does A.I. say about St. Olaf?
The cost of living in St. Olaf, MN is relatively low compared to other places in the country. The median home value in St. Olaf is $174,400, which is much lower than the median home value for the state of Minnesota as a whole. Groceries and healthcare expenses are also lower than average, making it an ideal place to live for retirees or those on a fixed income. Additionally, housing costs are very affordable with a median rent of just $1,000 per month. Gas prices are slightly higher than the national average but still affordable so commuting to nearby cities such as Minneapolis is easy and economical. All in all, St. Olaf offers an attractive cost of living that allows families and individuals to make their money go further.