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These days, finding an affordable place to live in the Bingham Lake area can be challenging. Home prices in Bingham Lake are now at a median cost of $241,956, lower than the Minnesota average of $345,793.
The average cost of rent is $890/mo in Bingham Lake, primarily driven by the current value of real estate in the Bingham Lake area. In Bingham Lake, 7.74% of households rent, and 59.48% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Bingham Lake is $6,808 per month. Households that rent pay about 13.07% of their income on rent here. Bingham Lake’s most expensive areas are in the central regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Windom, MN: less expensive homes
- Mountain Lake, MN: less expensive homes
- Delft, MN: equally priced homes
- Wilder, MN: less expensive homes
- Butterfield, MN: less expensive homes
- Odin, MN: equally priced homes
- Jeffers, MN: less expensive homes
- Darfur, MN: less expensive homes
- Comfrey, MN: less expensive homes
- Heron Lake, MN: less expensive homes
Cities with Similar Populations
- Ashland, OK: less expensive homes
- Scottsburg, OR: higher priced homes
- Buffalo Mills, PA: less expensive homes
- Mount Washington, PA: less expensive homes
- Soldier, IA: less expensive homes
- Indian Kettles, NY: less expensive homes
- Mud Lake, ID: less expensive homes
- Tolna, ND: less expensive homes
- Lake Point, UT: higher priced homes
- McCombs, KY: less expensive homes
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