Housing costs in Madison Lake?
A typical home costs
$393,400, which is 16.4% more expensive than the national average of
$338,100 and 27.1% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Madison Lake costs
$990 per month, which is 20.2% cheaper than the national average of
$1,240 and 7.1% cheaper than the state average of
$1,060.
Can I afford Madison Lake?
To live comfortably in Madison Lake (zip 56063), Minnesota, a minimum annual income of
$75,240 for a family, and
$31,600 for a single person is recommended.
What does A.I. say about Madison Lake?
The cost of living in Madison Lake, MN 56063 is relatively low compared to other cities in the US. The median home price is around $150,000, and the average rental rate for a one-bedroom apartment is about $700 per month. Utilities are also quite affordable, with an average electric bill of around $100 per month. Taxes are also fairly low, and overall it's an affordable city for those looking to settle down in a small town with plenty of recreational activities available.