Housing costs in Lancaster?
A typical home costs
$176,200, which is 47.9% less expensive than the national average of
$338,100 and 43.1% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Lancaster costs
$820 per month, which is 42.7% cheaper than the national average of
$1,430 and 51.2% cheaper than the state average of
$1,240.
Can I afford Lancaster?
To live comfortably in Lancaster (zip 56735), Minnesota, a minimum annual income of
$33,840 for a family, and
$24,800 for a single person is recommended.
What does A.I. say about Lancaster?
The cost of living in 56735 Lancaster, MN is relatively affordable compared to other cities and towns in the region. The median home value is $64,300, which is lower than the national average and well within reach for many families. Additionally, the median household income is around $45,000 and the unemployment rate is 3%. This means that it is possible for most people to find a job and make enough money to comfortably pay their bills. The cost of groceries and other necessities are comparable to other areas in Minnesota, but overall the cost of living in 56735 Lancaster, MN provides residents with an affordable way to live that will not break the bank.