Housing costs in Red Wing?
A typical home costs
$251,400, which is 25.6% less expensive than the national average of
$338,100 and 18.8% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Red Wing costs
$940 per month, which is 34.3% cheaper than the national average of
$1,430 and 31.9% cheaper than the state average of
$1,240.
Can I afford Red Wing?
To live comfortably in Red Wing, Minnesota, a minimum annual income of
$48,240 for a family, and
$32,000 for a single person is recommended.
What does A.I. say about Red Wing?
The cost of living in Red Wing, MN is reasonable and comparable to other cities of its size. The median income for the area is slightly lower than the national average, but it more than makes up for this with its affordable housing and low taxes. The overall cost of housing is fairly low with the median home price being around $150,000. Likewise, utility costs remain relatively low compared to other areas in Minnesota. All-in-all, Red Wing provides a comfortable lifestyle at an affordable rate.