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These days, finding an affordable place to live in the Paynesville area can be challenging. Home prices in Paynesville are now at a median cost of $261,724, lower than the Minnesota average of $345,793.
The average cost of rent is $920/mo in Paynesville, primarily driven by the current value of real estate in the Paynesville area. In Paynesville, 18.81% of households rent, and 39.61% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Paynesville is $7,211 per month. Households that rent pay about 12.76% of their income on rent here. Paynesville’s most expensive areas are in the northeastern 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
- Roscoe, MN: higher priced homes
- Regal, MN: equally priced homes
- Hawick, MN: higher priced homes
- Eden Valley, MN: less expensive homes
- St. Martin, MN: higher priced homes
- Richmond, MN: higher priced homes
- Spring Hill, MN: equally priced homes
- New London, MN: higher priced homes
- Grove City, MN: less expensive homes
- Manannah, MN: equally priced homes
Cities with Similar Populations
- Boscobel, WI: less expensive homes
- Kewaunee, WI: less expensive homes
- Union City, IN: less expensive homes
- Port Republic, MD: higher priced homes
- Belzoni, MS: less expensive homes
- Ransomville, NY: less expensive homes
- Ludlow, KY: less expensive homes
- Bell, FL: less expensive homes
- Denmark, SC: less expensive homes
- Fairbury, NE: less expensive homes
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