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These days, finding an affordable place to live in the Merton area can be challenging. Home prices in Merton are now at a median cost of $397,856, higher than the Minnesota average of $345,793.
The average cost of rent is $1,701/mo in Merton, primarily driven by the current value of real estate in the Merton area. In Merton, 11.33% of households rent, and 35.94% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Merton is $10,400 per month. Households that rent pay about 16.36% of their income on rent here. Merton’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Havana, MN: less expensive homes
- Owatonna, MN: less expensive homes
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- Skyburg, MN: less expensive homes
- Prairieville, MN: equally priced homes
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- Kenyon, MN: less expensive homes
Cities with Similar Populations
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- Labelle, ID: higher priced homes
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- Kramer, NE: less expensive homes
- Koonsville, PA: less expensive homes
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