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Affordable
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These days, finding an affordable place to live in the Babbitt area can be challenging. Home prices in Babbitt are now at a median cost of $160,191, lower than the Minnesota average of $345,793.
The average cost of rent is $800/mo in Babbitt, primarily driven by the current value of real estate in the Babbitt area. In Babbitt, 9.67% of households rent, and 55.69% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Babbitt is $5,280 per month. Households that rent pay about 15.15% of their income on rent here. Babbitt’s most expensive areas are in the northern 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
- Winton, MN: higher priced homes
- Robinson, MN: higher priced homes
- Ely, MN: higher priced homes
- Embarrass, MN: higher priced homes
- Section Thirty, MN: higher priced homes
- Colby, MN: higher priced homes
- Soudan, MN: higher priced homes
- Hoyt Lakes, MN: less expensive homes
- Aurora, MN: less expensive homes
- Tower, MN: higher priced homes
Cities with Similar Populations
- Suring, WI: higher priced homes
- Ash Fork, AZ: higher priced homes
- Newton, GA: less expensive homes
- Pettisville, OH: higher priced homes
- Richlandtown, PA: higher priced homes
- Lorida, FL: equally priced homes
- Rogers, OH: higher priced homes
- Royal Center, IN: less expensive homes
- Industry, PA: higher priced homes
- Uniontown, KY: less expensive homes
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