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These days, finding an affordable place to live in the Red Wing area can be challenging. Home prices in Red Wing are now at a median cost of $252,905, lower than the Minnesota average of $345,793.
The average cost of rent is $1,043/mo in Red Wing, primarily driven by the current value of real estate in the Red Wing area. In Red Wing, 26.32% of households rent, and 39.97% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Red Wing is $6,264 per month. Households that rent pay about 16.65% of their income on rent here. Red Wing’s most expensive areas are in the western 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
- Wacouta, MN: higher priced homes
- Esdaile, WI: equally priced homes
- Hager City, WI: higher priced homes
- Bay City, WI: equally priced homes
- Welch, MN: higher priced homes
- Vasa, MN: higher priced homes
- Warrentown, WI: higher priced homes
- Moeville, WI: higher priced homes
- Frontenac, MN: higher priced homes
- Goodhue, MN: higher priced homes
Cities with Similar Populations
- Clayton, MO: higher priced homes
- Tillmans Corner, AL: less expensive homes
- Three Lakes, FL: higher priced homes
- Thompsons Station, TN: higher priced homes
- Theodore, AL: less expensive homes
- Taylor, TX: higher priced homes
- Tanque Verde, AZ: higher priced homes
- Taft, CA: equally priced homes
- Swansea, MA: higher priced homes
- Sunny Vista, CA: higher priced homes
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