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These days, finding an affordable place to live in the Balaton area can be challenging. Home prices in Balaton are now at a median cost of $151,717, lower than the Minnesota average of $345,793.
The average cost of rent is $1,037/mo in Balaton, primarily driven by the current value of real estate in the Balaton area. In Balaton, 18.03% of households rent, and 46.17% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Balaton is $5,831 per month. Households that rent pay about 17.78% of their income on rent here. Balaton’s most expensive areas are in the western regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Burchard, MN: higher priced homes
- Russell, MN: higher priced homes
- Garvin, MN: higher priced homes
- Florence, MN: higher priced homes
- Amiret, MN: higher priced homes
- Lynd, MN: higher priced homes
- Ruthton, MN: higher priced homes
- Tracy, MN: less expensive homes
- Tyler, MN: equally priced homes
- Marshall, MN: higher priced homes
Cities with Similar Populations
- Dennehotso, AZ: less expensive homes
- Whitecone, AZ: less expensive homes
- Sanish, ND: higher priced homes
- Black Rock, MA: higher priced homes
- Blackstock, SC: higher priced homes
- Richardton, ND: higher priced homes
- Collins, MO: higher priced homes
- Edisto Beach, SC: higher priced homes
- Silverstreet, SC: higher priced homes
- Sodus Point, NY: higher priced homes
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