The Most Affordable Neighborhoods in Austin, MN by Home Value

These days, finding an affordable place to live in the Austin area can be challenging. Home prices in Austin are now at a median cost of $161,851, lower than the Minnesota average of $345,793.

The average cost of rent is $975/mo in Austin, primarily driven by the current value of real estate in the Austin area. In Austin, 27.34% of households rent, and 40.89% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Austin is $5,829 per month. Households that rent pay about 16.73% of their income on rent here. Austin’s most expensive areas are in the southwestern regions, while the cheapest areas are in the southeastern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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