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Affordable
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These days, finding an affordable place to live in the Forbes area can be challenging. Home prices in Forbes are now at a median cost of $189,800, lower than the Minnesota average of $345,793.
The average cost of rent is $675/mo in Forbes, primarily driven by the current value of real estate in the Forbes area. In Forbes, 2.38% of households rent, and 50.61% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Forbes is $6,667 per month. Households that rent pay about 10.13% of their income on rent here. Forbes’s most expensive areas are in the central 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
- Zim, MN: equally priced homes
- Iron, MN: higher priced homes
- Iron Junction, MN: higher priced homes
- Little Swan, MN: equally priced homes
- Wilpen, MN: higher priced homes
- Kelsey, MN: higher priced homes
- Toivola, MN: equally priced homes
- Eveleth, MN: less expensive homes
- Genoa, MN: higher priced homes
- Leonidas, MN: equally priced homes
Cities with Similar Populations
- Rockton, WI: higher priced homes
- Lumber, AR: less expensive homes
- Lyra, OH: less expensive homes
- Magness, AR: higher priced homes
- Magnet, IL: higher priced homes
- Malden, WA: higher priced homes
- Manfred, AR: less expensive homes
- Manson, IN: higher priced homes
- Markhams, NY: less expensive homes
- Mason, OK: less expensive homes
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