Housing costs in Ihlen?
A typical home costs
$95,000, which is 71.9% less expensive than the national average of
$338,100 and 69.3% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Ihlen costs
$730 per month, which is 49.0% cheaper than the national average of
$1,430 and 69.9% cheaper than the state average of
$1,240.
Can I afford Ihlen?
To live comfortably in Ihlen (zip 56140), Minnesota, a minimum annual income of
$18,360 for a family, and
$24,800 for a single person is recommended.
What does A.I. say about Ihlen?
The cost of living in 56140 Ihlen, MN is generally quite affordable. Groceries, housing, and health care can all be obtained at reasonable rates compared to other areas of the country. The median home price in Ihlen is approximately $163,200, which is slightly lower than the national average. Similarly, utility costs are also quite low here due to an abundance of renewable energy sources in the area. Residents of Ihlen will find that they can make their money go further due to these economical prices. Furthermore, with no sales tax in Minnesota and a slightly lower income tax rate than many other states, people who live in this area have more money available for savings or spending on life's luxuries.