Cost of Living: Red lodge, MT vs Faribault, MN
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Red lodge | Faribault |
|---|---|---|
| Housing Index | 115.0 | 85.0 |
| Median Home Price | $311,000 | $226,000 |
| Average Rent (2 BR Apartment) | $1200 | $1200 |
| Average Rent (2 BR House) | $1236 | $1280 |
Housing Comparison: Red lodge vs Faribault
- In Red lodge, the median home price is higher at $311,000, while in Faribault it is $226,000.
- The rent for a two-bedroom apartment is equal in both Red lodge and Faribault at $1,200.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Red lodge | Faribault |
|---|---|---|
| Electricity Price | $13.58 | $16.38 |
| Natural Gas Price | $8.31 | $14.87 |
| Other Utilities | $280 | $250 |
Utilities Comparison: Red lodge vs Faribault
- Faribault has higher electricity costs at $16.38 per kWh, versus $13.58 in Red lodge.
- Natural gas is more expensive in Red lodge at $8.31 per unit, while it is cheaper at $14.87 in Faribault.
- Other utility costs are higher in Red lodge at an average of $280, compared to Faribault with $250.