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Affordable
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These days, finding an affordable place to live in the Medford area can be challenging. Home prices in Medford are now at a median cost of $257,096, lower than the Minnesota average of $345,793.
The average cost of rent is $1,221/mo in Medford, primarily driven by the current value of real estate in the Medford area. In Medford, 12.67% of households rent, and 36.95% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Medford is $7,664 per month. Households that rent pay about 15.93% of their income on rent here. Medford’s most expensive areas are in the southeastern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Owatonna, MN: equally priced homes
- Merton, MN: higher priced homes
- Prairieville, MN: higher priced homes
- Ruskin, MN: higher priced homes
- Faribault, MN: equally priced homes
- Warsaw, MN: higher priced homes
- Meriden, MN: equally priced homes
- Morristown, MN: equally priced homes
- Havana, MN: higher priced homes
- Steele Center, MN: higher priced homes
Cities with Similar Populations
- St. Louisville, OH: less expensive homes
- Montana City, MT: higher priced homes
- Montrose, PA: less expensive homes
- Acme, PA: less expensive homes
- Paddock Lake, WI: equally priced homes
- Perryopolis, PA: less expensive homes
- Powderly, TX: less expensive homes
- Reese, MI: less expensive homes
- Seneca, KS: equally priced homes
- Silver Lake, KS: equally priced homes
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