Cost of Living in Albert lea, MN
Housing
The housing market plays a significant role in determining the cost of living in Albert lea, MN.
- Housing Index: 90.0 / 100
- Median Home Price is: $225,000
- Average Rent (2 BR Apartment): $1050 per month
- Average Rent (2 BR House): $1200 per month
Considering a move to Albert lea, MN? With a housing index of 90.0, the market is relatively affordable compared to the national average. The median home price stands at 225000, making homeownership within reach for many. Renting a two-bedroom apartment costs about 1050 monthly, while a two-bedroom house averages 1200. If you're seeking reasonable living costs and the potential for future equity, Albert lea can be a solid choice. However, always consider local amenities, job opportunities, and community vibe before making your decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Albert lea, 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.): $250 per month
Living in Albert lea, 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 $250 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 Albert lea is a financially viable option for your relocation.