Housing costs in Park Rapids?
A typical home costs
$269,700, which is 20.2% less expensive than the national average of
$338,100 and 12.9% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Park Rapids costs
$870 per month, which is 39.2% cheaper than the national average of
$1,430 and 42.5% cheaper than the state average of
$1,240.
Can I afford Park Rapids?
To live comfortably in Park Rapids (zip 56470), Minnesota, a minimum annual income of
$51,840 for a family, and
$26,400 for a single person is recommended.
What does A.I. say about Park Rapids?
The cost of living in 56470 Park Rapids, MN is relatively low compared to other areas. The median home price in this area is around $137,700, while the median rent is approximately $580 per month. The median income for individuals in this area is just over $33k, and the poverty rate stands at 13.1%. Although the cost of living can be affected by many factors such as taxes and housing costs, Park Rapids provides a comfortable and affordable lifestyle that can accommodate most budgets.