Housing costs in Amherst?
A typical home costs
$371,900, which is 10.0% more expensive than the national average of
$338,100 and 20.2% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Amherst costs
$840 per month, which is 41.3% more than the national average of
$1,430 and 47.6% more than the state average of
$1,240.
Can I afford Amherst?
To live comfortably in Amherst, Minnesota, a minimum annual income of
$71,280 for a family, and
$25,600 for a single person is recommended.
What does A.I. say about Amherst?
The cost of living in Amherst, MN is quite reasonable. The overall cost of living index is below the national average at 86.3 percent. The median home cost is $189,400 and rents are around $851 per month. Groceries, utilities, and health care costs are all below the national average as well. Additionally, taxes in Amherst are very low with no income tax and property taxes being among some of the lowest in the state of Minnesota. All these factors make Amherst an ideal place to live for families and individuals looking for a place with a lower cost of living than most other areas in the country.