Housing costs in Welch?
A typical home costs
$413,500, which is 22.3% more expensive than the national average of
$338,100 and 33.6% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Welch costs
$1,180 per month, which is 17.5% cheaper than the national average of
$1,430 and 5.1% cheaper than the state average of
$1,240.
Can I afford Welch?
To live comfortably in Welch (zip 55089), Minnesota, a minimum annual income of
$79,200 for a family, and
$40,000 for a single person is recommended.
What does A.I. say about Welch?
The cost of living in Welch, MN 55089 is relatively low compared to some other towns and cities. The median home value in Welch is $184,500 according to Zillow, which is lower than the United States average of $231,200. Additionally, housing prices have been on a general decline since 2017. Utility costs are also fairly low due to the low population density in Welch; the city's average monthly gas bill is around $98 and its average electric bill is approximately $73. Finally, groceries and other goods are generally cheaper in Welch than in many other places due to its rural location. All these factors add up to make Welch a great place to live if you're looking for a bargain.