Housing costs in Red Wing?
A typical home costs
$261,100, which is 22.8% less expensive than the national average of
$338,100 and 15.6% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Red Wing costs
$910 per month, which is 26.6% cheaper than the national average of
$1,240 and close to the state average of
$920.
Can I afford Red Wing?
To live comfortably in Red Wing (zip 55066), Minnesota, a minimum annual income of
$50,040 for a family, and
$31,200 for a single person is recommended.
What does A.I. say about Red Wing?
The cost of living in 55066 Red Wing, MN is relatively reasonable compared to other areas in the nation. The median home price is just over $150,000 and the median rental rate is below $800 a month. This makes it an attractive option for those looking to purchase or rent a home. Additionally, the area has some of the most affordable grocery and utility costs in the state, as well as low taxes and sales tax rates. All of these factors contribute to the overall lower cost of living in this region, making it a desirable place to live for both families and individuals alike.