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These days, finding an affordable place to live in the Hector area can be challenging. Home prices in Hector are now at a median cost of $160,865, lower than the Minnesota average of $345,793.
The average cost of rent is $1,054/mo in Hector, primarily driven by the current value of real estate in the Hector area. In Hector, 21.26% of households rent, and 71.07% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Hector is $5,707 per month. Households that rent pay about 18.47% of their income on rent here. Hector’s most expensive areas are in the southwestern 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
- Buffalo Lake, MN: higher priced homes
- Bird Island, MN: higher priced homes
- Lakeside, MN: higher priced homes
- Stewart, MN: higher priced homes
- Olivia, MN: equally priced homes
- Fairfax, MN: equally priced homes
- Cosmos, MN: higher priced homes
- Franklin, MN: less expensive homes
- Gibbon, MN: equally priced homes
- Cedar Mills, MN: higher priced homes
Cities with Similar Populations
- Big Horn, WY: higher priced homes
- Trail, OR: higher priced homes
- Tower Lakes, IL: higher priced homes
- Temple, NH: higher priced homes
- Stratford, CA: higher priced homes
- Falls, PA: higher priced homes
- Springer, NM: less expensive homes
- Braggs, OK: less expensive homes
- Bowler, WI: less expensive homes
- Bonanza, TX: higher priced homes
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