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These days, finding an affordable place to live in the Red Lake area can be challenging. Home prices in Red Lake are now at a median cost of $85,935, lower than the Minnesota average of $345,793.
The average cost of rent is $454/mo in Red Lake, primarily driven by the current value of real estate in the Red Lake area. In Red Lake, 20.85% of households rent, and 71.03% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Red Lake is $4,532 per month. Households that rent pay about 10.02% of their income on rent here. Red Lake’s most expensive areas are in the northwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Little Rock, MN: less expensive homes
- Redby, MN: higher priced homes
- Debs, MN: higher priced homes
- Nebish, MN: higher priced homes
- Ponemah, MN: higher priced homes
- Puposky, MN: higher priced homes
- Aure, MN: higher priced homes
- Quiring, MN: higher priced homes
- Saum, MN: higher priced homes
- Leonard, MN: higher priced homes
Cities with Similar Populations
- Canby, MN: higher priced homes
- Wyoming, RI: higher priced homes
- Volant, PA: higher priced homes
- Tioga, ND: higher priced homes
- Three Oaks, MI: higher priced homes
- Thoreau, NM: higher priced homes
- Tenaha, TX: higher priced homes
- Springport, MI: higher priced homes
- Spraberry, TX: higher priced homes
- South Zanesville, OH: higher priced homes
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