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These days, finding an affordable place to live in the Hermantown area can be challenging. Home prices in Hermantown are now at a median cost of $400,037, higher than the Minnesota average of $345,793.
The average cost of rent is $1,656/mo in Hermantown, primarily driven by the current value of real estate in the Hermantown area. In Hermantown, 25.13% of households rent, and 29.43% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Hermantown is $8,526 per month. Households that rent pay about 19.42% of their income on rent here. Hermantown’s most expensive areas are in the northern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Proctor, MN: less expensive homes
- Duluth, MN: less expensive homes
- Four Corners, MN: less expensive homes
- Harnell Park, MN: less expensive homes
- Esko, MN: less expensive homes
- Superior, WI: less expensive homes
- Oliver, WI: less expensive homes
- Saginaw, MN: less expensive homes
- Scanlon, MN: less expensive homes
- Thomson, MN: less expensive homes
Cities with Similar Populations
- Mattawan, MI: less expensive homes
- Loxley, AL: less expensive homes
- Mabelvale, AR: less expensive homes
- Madison, NC: less expensive homes
- Manati, PR: less expensive homes
- Manteno, IL: less expensive homes
- Manville, NJ: equally priced homes
- Marble Falls, TX: equally priced homes
- Markham, IL: less expensive homes
- Marshall, MI: less expensive homes
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