The Most Affordable Neighborhoods in Spring Lake Park, MN by Home Value

 

Spring Lake Park, MN Map of Most Affordable Neighborhoods
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These days, finding an affordable place to live in the Spring Lake Park area can be challenging. Home prices in Spring Lake Park are now at a median cost of $225,886, lower than the Minnesota average of $269,934.

The average cost of rent is $1,247/mo in Spring Lake Park, primarily driven by the current value of real estate in the Spring Lake Park area. While nearly 31.04% of residents own their homes outright in Spring Lake Park, 29.95% rent.

Housing affordability isn’t just about home prices, though. The average household income in Spring Lake Park is $6,163 per month. Households that rent pay about 20.23% of their income on rent here. Spring Lake Park's most expensive areas are in the western regions, while the cheapest areas are in the northeastern parts of the city.


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