Housing costs in Summit Lake?
A typical home costs
$216,000, which is 36.1% less expensive than the national average of
$338,100 and 30.2% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Summit Lake costs
$910 per month, which is 36.4% more than the national average of
$1,430 and 36.3% more than the state average of
$1,240.
Can I afford Summit Lake?
To live comfortably in Summit Lake, Minnesota, a minimum annual income of
$41,400 for a family, and
$27,600 for a single person is recommended.
What does A.I. say about Summit Lake?
The cost of living in Summit Lake, MN is quite reasonable. Housing costs are lower than the national average and the overall cost of living is 2.5% lower than the U.S. average. Groceries, health care, transportation, and utilities are all very affordable, making it easy for families to make ends meet. The local economy is also strong with many job opportunities available in a variety of industries. Overall, Summit Lake, MN is a great place to live with good job opportunities and an economical cost of living that allows residents to enjoy a high quality of life without breaking the bank.