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These days, finding an affordable place to live in the Redwood Falls area can be challenging. Home prices in Redwood Falls are now at a median cost of $176,588, lower than the Minnesota average of $345,793.
The average cost of rent is $820/mo in Redwood Falls, primarily driven by the current value of real estate in the Redwood Falls area. In Redwood Falls, 29.19% of households rent, and 48.83% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Redwood Falls is $5,734 per month. Households that rent pay about 14.29% of their income on rent here. Redwood Falls’s most expensive areas are in the northeastern 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
- Gilfillan, MN: higher priced homes
- North Redwood, MN: equally priced homes
- Delhi, MN: higher priced homes
- Morton, MN: less expensive homes
- Bechyn, MN: higher priced homes
- Wabasso, MN: less expensive homes
- Belview, MN: higher priced homes
- Seaforth, MN: equally priced homes
- Franklin, MN: less expensive homes
- Clements, MN: equally priced homes
Cities with Similar Populations
- Auburn, KY: equally priced homes
- Westbrook, CT: higher priced homes
- Seagrove, NC: less expensive homes
- Scandia, MN: higher priced homes
- Saxonburg, PA: higher priced homes
- Avon, NY: equally priced homes
- Avon, MA: higher priced homes
- Avalon, PA: less expensive homes
- Auburn, NH: higher priced homes
- Auburn, MI: equally priced homes
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