Housing costs in Albert Lea?
A typical home costs
$146,600, which is 56.6% less expensive than the national average of
$338,100 and 52.6% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Albert Lea costs
$890 per month, which is 28.2% cheaper than the national average of
$1,240 and 2.2% more than the state average of
$870.
Can I afford Albert Lea?
To live comfortably in Albert Lea (zip 56007), Minnesota, a minimum annual income of
$28,080 for a family, and
$27,200 for a single person is recommended.
What does A.I. say about Albert Lea?
The cost of living in Albert Lea, MN (56007) is fairly affordable. According to BestPlaces, the cost of living index for Albert Lea is 79.10 which is 11% lower than the US average. Housing costs are even more favorable with an index of 51 for rent and 53 for a home purchase; both much lower than the US average. Additionally, food costs are low with an index of 86.7 compared to the US average of 100. All-in-all, Albert Lea provides a great place to live that is also affordable for its residents.