Housing costs in Hanley Falls?
A typical home costs
$106,800, which is 68.4% less expensive than the national average of
$338,100 and 65.5% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Hanley Falls costs
$850 per month, which is 40.6% cheaper than the national average of
$1,430 and 45.9% cheaper than the state average of
$1,240.
Can I afford Hanley Falls?
To live comfortably in Hanley Falls (zip 56245), Minnesota, a minimum annual income of
$20,520 for a family, and
$25,600 for a single person is recommended.
What does A.I. say about Hanley Falls?
The cost of living in 56245 Hanley Falls, MN is considered to be relatively low when compared to other cities and towns in the United States. The overall cost of living index is only 88.1, which is 12.9 points below the average US score of 101. Housing costs are some of the lowest in the country with a median home value of only $72,500 and an average rent of just $740 per month. Prices for groceries and healthcare are both below the national average as well. In addition, taxes are also generally low with an effective property tax rate of 0.77%. All these factors make it a great place to live if you are looking for a low-cost area to settle down in.