Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Summit area can be challenging. Home prices in Summit are now at a median cost of $232,300, lower than the Minnesota average of $269,934.
The average cost of rent is $758/mo in Summit, primarily driven by the current value of real estate in the Summit area. While nearly 46.43% of residents own their homes outright in Summit, 12.50% rent.
Housing affordability isn’t just about home prices, though. The average household income in Summit is $7,891 per month. Households that rent pay about 9.61% of their income on rent here. Summit's most expensive areas are in the southern regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Litomysl, MN: equally priced homes
- Blooming Prairie, MN: less expensive homes
- Ellendale, MN: less expensive homes
- Geneva, MN: less expensive homes
- Steele Center, MN: equally priced homes
- Hope, MN: less expensive homes
- Pratt, MN: equally priced homes
- Maple Island, MN: less expensive homes
- Hollandale, MN: less expensive homes
- Corning, MN: less expensive homes
Cities with Similar Populations
- Shadow Lawn, IL: less expensive homes
- Jack, MS: less expensive homes
- Jacksonport, WI: higher priced homes
- Jacksonville, NY: equally priced homes
- Jacksville, PA: equally priced homes
- Jarrett, MN: equally priced homes
- Jeddo, TX: higher priced homes
- Jefferson, IN: less expensive homes
- Seneca, MI: less expensive homes
- Seven Stars, PA: less expensive homes
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