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These days, finding an affordable place to live in the Alvarado area can be challenging. Home prices in Alvarado are now at a median cost of $166,985, lower than the Minnesota average of $345,793.
The average cost of rent is $1,101/mo in Alvarado, primarily driven by the current value of real estate in the Alvarado area. In Alvarado, 18.19% of households rent, and 47.98% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Alvarado is $6,594 per month. Households that rent pay about 16.69% of their income on rent here. Alvarado’s most expensive areas are in the southwestern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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Cities with Similar Populations
- Castalia, IA: higher priced homes
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- Welcome, LA: less expensive homes
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