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Affordable
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These days, finding an affordable place to live in the Montrose area can be challenging. Home prices in Montrose are now at a median cost of $330,944, lower than the Minnesota average of $345,793.
The average cost of rent is $1,462/mo in Montrose, primarily driven by the current value of real estate in the Montrose area. In Montrose, 16.85% of households rent, and 26.38% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Montrose is $8,294 per month. Households that rent pay about 17.63% of their income on rent here. Montrose’s most expensive areas are in the southeastern 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
- Waverly, MN: equally priced homes
- Rassat, MN: higher priced homes
- Delano, MN: higher priced homes
- Howard Lake, MN: equally priced homes
- Buffalo, MN: equally priced homes
- Rockford, MN: equally priced homes
- Watertown, MN: equally priced homes
- Winsted, MN: less expensive homes
- Greenfield, MN: higher priced homes
- Independence, MN: higher priced homes
Cities with Similar Populations
- Ridgeway, SC: less expensive homes
- Isle Of Palms, SC: higher priced homes
- Wyoming, PA: less expensive homes
- Pelican Rapids, MN: less expensive homes
- Mayflower, AR: less expensive homes
- Mickleton, NJ: higher priced homes
- Westover, MD: less expensive homes
- Science Hill, KY: less expensive homes
- Sabattus, ME: less expensive homes
- Rice, MN: less expensive homes
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