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Cost of Living in Red Lake County

Is it better to rent or buy in Red Lake County? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$76,169
$588/mo

Median in area: $588

$162,012

Median in area: $162,012

$32,402

If you Rent

🔑
$856 /mo
Base Rent$588
Est. Utilities$268
% of Income13.5%
Pre-tax Residual$5,491

If you Buy

🏠
$1,373 /mo
P&I (7.272%)$886
Taxes & Ins$219
Est. Utilities$268
% of Income21.6%
Pre-tax Residual$4,974

Compare Nearby Areas

See how Red Lake County stacks up against neighboring areas.

countyPennington County, MN
$913/mo
countyPolk County, MN
$901/mo

Cost of Living FAQs

Is it cheaper to rent or buy in Red Lake County?›

Based on median housing data, renting is currently more affordable on a monthly basis in Red Lake County. The estimated all-in monthly cost for renting is $856, while owning a median-priced home with a 20% down payment is roughly $1,373 per month (a difference of $517).

How much do utilities cost in Red Lake County?›

The average monthly utility cost (electricity and natural gas) for a typical home in Red Lake County is approximately $268. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Red Lake County?›

To comfortably afford the median rent and utilities in Red Lake County without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $34,240 per year.