Housing costs in Federal Dam?
A typical home costs
$234,700, which is 30.6% less expensive than the national average of
$338,100 and 24.2% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Federal Dam costs
$900 per month, which is 37.1% cheaper than the national average of
$1,430 and 37.8% cheaper than the state average of
$1,240.
Can I afford Federal Dam?
To live comfortably in Federal Dam (zip 56641), Minnesota, a minimum annual income of
$45,000 for a family, and
$32,000 for a single person is recommended.
What does A.I. say about Federal Dam?
The cost of living in 56641 Federal Dam, MN is relatively low compared to other places in the United States. The median household income for this town is $51,956, which is lower than the national average of $68,703. The cost of housing is also below the national average, with a median home sale price of only $78,500. Other living expenses such as utilities and groceries are also cheaper than average due to the small size of the town and its rural location. This makes it an ideal place for families looking to save money while still enjoying a high quality of life.