Cost of Living in Red wing, MN
Housing
The housing market plays a significant role in determining the cost of living in Red wing, MN.
- Housing Index: 90.0 / 100
- Median Home Price is: $275000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1280 per month
Considering moving to Red wing, MN? With a housing index of 90.0, it's more affordable than many metropolitan areas. The median home price of 275000 suggests a strong opportunity for homeownership, especially for first-time buyers. Renting could also be a viable option, with the average cost for a 2-bedroom apartment at 1200 and a 2-bedroom house slightly higher at 1280. Overall, Red wing offers a balanced housing market that could accommodate different lifestyle preferences while remaining budget-friendly.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Red wing, 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.): $200 per month
Living in Red wing, 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 $200 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 Red wing is a financially viable option for your relocation.