Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Colby area can be challenging. Home prices in Colby are now at a median cost of $120,614, lower than the Minnesota average of $269,934.
The average cost of rent is $642/mo in Colby, primarily driven by the current value of real estate in the Colby area. While nearly 52.69% of residents own their homes outright in Colby, 4.60% rent.
Housing affordability isn’t just about home prices, though. The average household income in Colby is $4,700 per month. Households that rent pay about 13.66% of their income on rent here. Colby's most expensive areas are in the northwestern regions, while the cheapest areas are in the eastern parts of the city.
Nearby Cities
- Pineville, MN: higher priced homes
- Hoyt Lakes, MN: less expensive homes
- Aurora, MN: less expensive homes
- Embarrass, MN: equally priced homes
- Biwabik, MN: less expensive homes
- Palo, MN: equally priced homes
- McKinley, MN: less expensive homes
- Gilbert, MN: higher priced homes
- Babbitt, MN: higher priced homes
- Adolph, MN: equally priced homes
Cities with Similar Populations
- Pearsonia, OK: less expensive homes
- Moenville, SD: higher priced homes
- Momence, IN: higher priced homes
- Mona, IA: higher priced homes
- Monson, WV: less expensive homes
- Montague, AL: higher priced homes
- Moore, AR: less expensive homes
- Mooresville, MS: equally priced homes
- Moose Junction, WI: higher priced homes
- Morgan, MT: higher priced homes
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