Cost of Living in Hibbing, MN
Housing
The housing market plays a significant role in determining the cost of living in Hibbing, MN.
- Housing Index: 90.0 / 100
- Median Home Price is: $176,000
- Average Rent (2 BR Apartment): $900 per month
- Average Rent (2 BR House): $872 per month
Considering a move to Hibbing, MN? With a housing index of 90.0, affordability is favorable, particularly for renters. The average rent for a 2-bedroom apartment stands at 900, while a 2-bedroom house costs about 872. The median home price is 176000, which may suggest that buying is a viable option if you're looking for long-term investment. Compared to national averages, this area shows potential for budget-conscious individuals and families looking for quality living without breaking the bank. Evaluate your needs carefully to maximize your investment!
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hibbing, MN.
- Electricity Price: $16.38 USD (median by state)
- Natural Gas Price: $14.87 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $150 per month
Living in Hibbing, MN could entail higher utility costs. Electricity costs sit at $16.38, while natural gas is priced at $14.87 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $150 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Hibbing is a financially viable option for your relocation.