Housing costs in Silver Lake?
A typical home costs
$249,800, which is 26.1% less expensive than the national average of
$338,100 and 19.3% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Silver Lake costs
$1,190 per month, which is 16.8% cheaper than the national average of
$1,430 and 4.2% cheaper than the state average of
$1,240.
Can I afford Silver Lake?
To live comfortably in Silver Lake (zip 55381), Minnesota, a minimum annual income of
$47,880 for a family, and
$36,000 for a single person is recommended.
What does A.I. say about Silver Lake?
Living in 55381 Silver Lake, MN is surprisingly affordable. The cost of living index is at 83.7, which is lower than the national average of 100. This means that many basic necessities such as groceries and housing are more affordable than they would be elsewhere. In addition, the median home value in this area is around $191,600, which makes it very accessible to a wide range of budgets. The rental prices are also below the national average here, so it is quite easy to find an affordable place to rent in the area. All of these factors combine to make 55381 Silver Lake, MN an attractive place to live for those looking for a low-cost place to call home.