Quick facts: Atwater, MN

Quick Facts

102.8
Cost of Living
above US average
1,097
Population
1.82
Crime Rate per 1000
below US average
$65,000
Median Income
below US average
$215,000
Median House Price
above US average
$675.0
Average Rent
below US average
10%
Poverty Rate
below US average
4.0%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $65,000.

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Income Needed to Buy

βœ— Stretch
$67k/year
Based on $215,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $67k vs median $65,000
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Income Needed to Rent

βœ“ Affordable
$29k/year
Based on $675.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($65,000) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Atwater, MN

Atwater is a charming city located in Kandiyohi County, Minnesota. Nestled in the west-central part of the state, Atwater is known for its tight-knit community and welcoming atmosphere. With a population of around 1,200 residents, this small town offers a peaceful rural lifestyle while still providing access to local amenities. The city features a variety of parks, recreational activities, and outdoor spaces, making it an ideal destination for nature lovers. The nearby Sibley State Park offers hiking, camping, and fishing opportunities in the scenic landscape of Minnesota. Atwater is also home to several annual events, including community gatherings and local festivals that celebrate its rich history and culture. Local businesses play a significant role in the economy, with shops and eateries bringing vibrancy to the downtown area. The surrounding agricultural landscape contributes to the community's identity, fostering a strong sense of belonging among residents. Overall, Atwater is a delightful city that embodies the essence of small-town Minnesota living.

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