Housing costs in New Richland?
A typical home costs
$221,400, which is 34.5% less expensive than the national average of
$338,100 and 28.5% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in New Richland costs
$800 per month, which is 44.1% cheaper than the national average of
$1,430 and 55.0% cheaper than the state average of
$1,240.
Can I afford New Richland?
To live comfortably in New Richland (zip 56072), Minnesota, a minimum annual income of
$42,480 for a family, and
$24,400 for a single person is recommended.
What does A.I. say about New Richland?
56072 New Richland, MN has a fairly low cost of living. While the national average is 100, the estimated cost of living index in 56072 is 87.2. This means that goods and services cost 12.8 percent less than the national average. Additionally, housing costs are particularly low, with the median home price coming in at $119,600. This is much lower than the national median of $200,400. Renters benefit from an even lower price tag for housing; studio apartments start at just $550 per month and 1-bedroom units run around $650. Overall, 56072 New Richland offers a great combination of affordability and quality living for those looking to settle down in Minnesota's countryside.