Housing costs in Merrill?
A typical home costs
$228,800, which is 32.3% less expensive than the national average of
$338,100 and 17.4% more expensive than the average Iowa home, at
$194,900. Renting a two-bedroom unit in Merrill costs
$800 per month, which is 14.0% cheaper than the national average of
$930 and 16.3% cheaper than the state average of
$930.
Can I afford Merrill?
To live comfortably in Merrill (zip 51038), Iowa, a minimum annual income of
$43,920 for a family, and
$26,000 for a single person is recommended.
What does A.I. say about Merrill?
The cost of living in 51038 Merrill, IA is considerably lower than the national average. The median home value in Merrill is around $122,400 and the median household income is $55,532. This indicates that residents of Merrill can purchase a home for approximately half of what it would cost to purchase a home in most other parts of the country. The overall cost of living index for Merrill County is 90.9, which means that goods and services are 10% cheaper than the national average. Additionally, the rent index for the county is at 77.3, indicating that rents are significantly cheaper compared to other areas in the nation.