Housing costs in Richfield?
A typical home costs
$313,600, which is 7.2% less expensive than the national average of
$338,100 and 1.3% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Richfield costs
$1,390 per month, which is 12.1% more than the national average of
$1,240 and close to the state average of
$1,400.
Can I afford Richfield?
To live comfortably in Richfield (zip 55423), Minnesota, a minimum annual income of
$60,120 for a family, and
$45,200 for a single person is recommended.
What does A.I. say about Richfield?
Richfield, MN is an affordable place to live, with a cost of living index of 94.1, which is 6.9% lower than the national average. The median home cost in 55423 Richfield is $190,100 and the median rent is $1,176. Utility costs are generally lower than the national average as well, with electricity costing around $170 per month. Other expenses such as transportation and health care costs are also typically lower than the national average. All in all, it's easy to see why Richfield is an attractive option for those looking for an affordable place to live in Minnesota.