Housing costs in Red Lake?
A typical home costs
$110,200, which is 67.4% less expensive than the national average of
$338,100 and 64.4% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Red Lake costs
$1,080 per month, which is 12.9% cheaper than the national average of
$1,240 and 2.8% more than the state average of
$1,050.
Can I afford Red Lake?
To live comfortably in Red Lake (zip 56671), Minnesota, a minimum annual income of
$21,240 for a family, and
$32,800 for a single person is recommended.
What does A.I. say about Red Lake?
The cost of living in 56671 Red Lake, MN is quite reasonable. The median home price in the area is $79,000, which is significantly lower than the U.S. median home price of over $200,000. Rent in 56671 Red Lake is also much lower than the U.S. average at just over $700 per month. Groceries and other basic household needs are also relatively inexpensive compared to other parts of the nation, making it an ideal place for those looking to save on their cost of living without sacrificing quality amenities or lifestyle options.