Redwood Falls, MN

Yes — everyday expenses in Redwood Falls run about 25% below the US average (Cost Index: 75). Housing is especially affordable: the median home is valued around $162,000, compared to the $303,400 national median. Monthly rent is typically around $824, versus $1,348 nationally.

Start with housing. Typical monthly rent is $824, while local median household income is $61,947. That implies a rent-burden proxy of about 16% before utilities and other costs. For a specific job offer, filing status, or take-home pay scenario, use salary.city.

Minnesota has a progressive state income tax with a top rate of 9.85%. The effective property tax rate is 1.11%. On a home worth $162,000, that translates to roughly $1,798 per year in property taxes. Sales tax (state + local) averages around 7.54% on everyday purchases.

The typical monthly rent in Redwood Falls is around $824. That's roughly 39% lower than the $1,348 national median. For comparison, the median home value here is $162,000, so buyers should also factor in mortgage payments, property taxes, and insurance.

The median home in Redwood Falls is valued at $162,000. With 20% down and a 6.5% mortgage rate, you'd be looking at roughly $819/month for principal and interest alone — before property taxes and insurance. About 71% of residents here own their homes.

Grocery prices in Redwood Falls are about average compared to the rest of the US (index: 96, where 100 is the national average). Utility bills (electricity, gas, water) are below average (index: 88). Overall, these everyday costs shouldn't cause major surprises if you're moving from another similarly-sized US city.

Redwood Falls is a small town with a population of about 5,075. The median age of residents is 43.1, skewing somewhat older — common in established suburban communities. The local poverty rate is 15.23%, near the national average of 12.4%.