Expensive
Affordable
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These days, finding an affordable place to live in the Tower area can be challenging. Home prices in Tower are now at a median cost of $346,137, higher than the Minnesota average of $345,793.
The average cost of rent is $731/mo in Tower, primarily driven by the current value of real estate in the Tower area. In Tower, 10.64% of households rent, and 65.83% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Tower is $6,204 per month. Households that rent pay about 11.79% of their income on rent here. Tower’s most expensive areas are in the western 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
- Soudan, MN: less expensive homes
- Adolph, MN: less expensive homes
- Embarrass, MN: less expensive homes
- Winton, MN: less expensive homes
- Idington, MN: less expensive homes
- Robinson, MN: equally priced homes
- Cook, MN: less expensive homes
- Britt, MN: less expensive homes
- Colby, MN: less expensive homes
- Buyck, MN: higher priced homes
Cities with Similar Populations
- Lenox, IA: less expensive homes
- Stony Creek, VA: less expensive homes
- St. Martins, MO: less expensive homes
- Menan, ID: less expensive homes
- Allen, MI: less expensive homes
- Malvern, IA: less expensive homes
- Lumber City, GA: less expensive homes
- Lincoln, NH: equally priced homes
- Limestone, OK: less expensive homes
- Three Rivers, NY: less expensive homes
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