Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Terrace area can be challenging. Home prices in Terrace are now at a median cost of $273,572, higher than the Minnesota average of $269,934.
The average cost of rent is $789/mo in Terrace, primarily driven by the current value of real estate in the Terrace area. While nearly 39.88% of residents own their homes outright in Terrace, 6.61% rent.
Housing affordability isn’t just about home prices, though. The average household income in Terrace is $6,881 per month. Households that rent pay about 11.46% of their income on rent here. Terrace's most expensive areas are in the western regions, while the cheapest areas are in the eastern parts of the city.
Nearby Cities
- Sedan, MN: less expensive homes
- Swift Falls, MN: less expensive homes
- Brooten, MN: less expensive homes
- Glenwood, MN: less expensive homes
- Sunburg, MN: less expensive homes
- Grove Lake, MN: less expensive homes
- Starbuck, MN: less expensive homes
- Long Beach, MN: less expensive homes
- Villard, MN: less expensive homes
- Belgrade, MN: less expensive homes
Cities with Similar Populations
- Emery, UT: less expensive homes
- Valley City, MO: less expensive homes
- Utica, WI: equally priced homes
- Upper Meyersville, TX: less expensive homes
- Union, GA: less expensive homes
- Tyler, OK: less expensive homes
- Turkey Creek, AR: less expensive homes
- Tunnelhill, PA: less expensive homes
- Evansville, AL: less expensive homes
- Valley Hill, MS: less expensive homes
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