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Mayer

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

Median Home$359,720
Median Rent$1,216/month
Population2,469
Leading IndustriesTransportation · Retail · Wholesale Trade5% transportation
Home Value Growth+9.4% over 2 years
Young Adults30% of residentsabove average nationally
Homeowners93% of occupied units
NotableHigh Incomes$116k/year · top 10% nationally
NotableHighly Educated23% hold a bachelor's degree · top 23% nationally
Mayer
MN

Frequently Asked Questions

What are today's mortgage rates in Mayer?

As of today, the 30-year fixed mortgage rate for Mayer is approximately 6.927% (6.964% 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 Mayer?

The median home value in Mayer is $360k. The median monthly rent is $1,216. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Mayer?

Home values in Mayer have increased 9.4% over the past two years. This represents moderate growth. 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 Mayer?

Based on a typical all-in ownership cost of $1,711/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $73k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Mayer is $116k/year.

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What industries drive the economy in Mayer?

The largest employment sectors in Mayer are public administration (23%) and retail (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.