Zip 56356 (New Munich, MN) Cost of Living


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New Munich cost of living score
89.9
Less expensive
10.1% lower
than the US average
7.5% lower
than the Minnesota average
New Munich (zip 56356), Minnesota gets a BestPlaces Cost of Living score of 89.9, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 10.1% lower than the U.S. average and 7.5% higher than the average for Minnesota.

Zip 56356 (New Munich, MN)

Housing costs in New Munich?
A typical home costs $182,500, which is 46.0% less expensive than the national average of $338,100 and 41.0% less expensive than the average Minnesota home, at $309,500. Renting a two-bedroom unit in New Munich costs $970 per month, which is 21.8% cheaper than the national average of $1,240 and close to the state average of $970.

Can I afford New Munich?
To live comfortably in New Munich (zip 56356), Minnesota, a minimum annual income of $34,920 for a family, and $31,200 for a single person is recommended.

What does A.I. say about New Munich?
The cost of living in 56356 New Munich, MN is fairly reasonable. The median home value is $163,100 and the median gross rent is $795 per month. The overall cost of living index for this area is 90.7, which falls below the national average of 100. This means that while prices are slightly higher than the national average, it is still an affordable place to live. Additionally, there are a variety of restaurants and shops available to choose from with reasonable prices for most items. All in all, 56356 New Munich is an affordable place to live that offers plenty of amenities and attractions at an attractive cost.
   Cost of living score
     CategoriesNew MunichMinnesotaUnited States
  89.997.2100.0
  95.397.2100
  75.578.3100.0
  58.0102.9100.0
  $182,500$309,500$338,100
  97.1%95.7%100.0%
  86.196.4100.0
  112.1117.4100.0

   100=National Average

   Average Rent by Bedroom Size
Crime