Housing costs in Hermantown?
A typical home costs
$237,900, which is 29.6% less expensive than the national average of
$338,100 and 23.1% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Hermantown costs
$1,060 per month, which is 14.5% cheaper than the national average of
$1,240 and close to the state average of
$1,080.
Can I afford Hermantown?
To live comfortably in Hermantown (zip 55814), Minnesota, a minimum annual income of
$45,720 for a family, and
$32,800 for a single person is recommended.
What does A.I. say about Hermantown?
The cost of living in 55814 Hermantown, MN is quite reasonable. The median home value is $183,900, which is lower than the national average and the median monthly rent is $1,440. Utilities, such as electricity and water are also lower than the national average. Food prices are slightly higher than other areas in Minnesota but overall remain affordable. The cost of transportation and healthcare are both lower than the U.S. average as well, providing a great way for families to save money while still enjoying quality services. Overall, 55814 Hermantown provides an excellent quality of life at an affordable price that makes it a desirable place to live.