Housing costs in Lake City?
A typical home costs
$288,600, which is 14.6% less expensive than the national average of
$338,100 and 6.8% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Lake City costs
$1,030 per month, which is 16.9% cheaper than the national average of
$1,240 and 11.7% cheaper than the state average of
$1,150.
Can I afford Lake City?
To live comfortably in Lake City (zip 55041), Minnesota, a minimum annual income of
$55,440 for a family, and
$36,000 for a single person is recommended.
What does A.I. say about Lake City?
The cost of living in 55041 Lake City, MN is relatively affordable compared to other parts of the state. The median home value is $140,200, which is slightly lower than the Minnesota state average of $213,900. Additionally, the median household income for Lake City residents is $54,379, which is also lower than the national average of $60,293. In terms of utilities and transportation costs, they are also cheaper than other parts of the state due to a variety of factors such as local tax breaks and infrastructure. All in all, Lake City provides a great place to live at an affordable price.