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Cromwell

Learn about the people, housing, costs and businesses in Cromwell, Minnesota

Median Home$232,600
Median Rent$831/month
Population237
Leading IndustryWholesale Trade10% of local workforce
Home Value Growth⬆⬆+12.9% over 2 years
Retirees25% of residentsabove average nationally
Homeowners86% of occupied units
Cromwell
MN

Frequently Asked Questions

What are today's mortgage rates in Cromwell?

As of today, the 30-year fixed mortgage rate for Cromwell is approximately 6.949% (6.990% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Cromwell?

The median home value in Cromwell is $233k. The median monthly rent is $831. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Cromwell?

Home values in Cromwell have increased 12.9% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Cromwell?

Based on a typical all-in ownership cost of $1,079/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $46k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Cromwell is $74k/year.

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What industries drive the economy in Cromwell?

The largest employment sectors in Cromwell are public administration (17%) and wholesale trade (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.