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Affordable
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These days, finding an affordable place to live in the Svea area can be challenging. Home prices in Svea are now at a median cost of $189,957, lower than the Minnesota average of $345,793.
The average cost of rent is $1,331/mo in Svea, primarily driven by the current value of real estate in the Svea area. In Svea, 10.44% of households rent, and 43.48% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Svea is $7,274 per month. Households that rent pay about 18.30% of their income on rent here. Svea’s most expensive areas are in the northern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Blomkest, MN: equally priced homes
- Willmar, MN: higher priced homes
- Lake Lillian, MN: higher priced homes
- Roseland, MN: equally priced homes
- Raymond, MN: higher priced homes
- Kandiyohi, MN: higher priced homes
- Prinsburg, MN: higher priced homes
- Atwater, MN: higher priced homes
- Pennock, MN: higher priced homes
- Spicer, MN: higher priced homes
Cities with Similar Populations
- Gillett Corner, MA: higher priced homes
- Stockbridge, VT: higher priced homes
- Stevensburg, VA: higher priced homes
- Star, TX: higher priced homes
- Stallo, MS: less expensive homes
- Grenville, SD: higher priced homes
- Greenwood Springs, MS: less expensive homes
- Greenway, AR: less expensive homes
- Grayson, OK: less expensive homes
- Strickland, MS: less expensive homes
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