Cost of Living in Lake george, MN
Housing
The housing market plays a significant role in determining the cost of living in Lake george, MN.
- Housing Index: Data is updating
- Median Home Price is: $325,000
- Average Rent (2 BR Apartment): Data is updating
- Average Rent (2 BR House): Data is updating
In analyzing the current housing data for Lake george, MN, we observe a housing index of 0.0, which indicates a relatively stable housing market. The median home price stands at 325000, suggesting it may be an opportune time for potential buyers looking to invest in property. However, the absence of figures for average rent (both for 2-bedroom apartments and houses) might indicate limited rental options in the area. This could attract homebuyers but deter renters, impacting population dynamics. It's essential to consider neighboring areas alongside these factors to make an informed decision about relocating.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lake george, 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.): Data is updating
Living in Lake george, 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 data unavailable 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 Lake george is a financially viable option for your relocation.