Quick facts: Breckenridge, MN

Quick Facts

102.8
Cost of Living
above US average
3,348
Population
15.53
Crime Rate per 1000
below US average
$57,094
Median Income
below US average
$265,900
Median House Price
above US average
$1560
Average Rent
above US average
10%
Poverty Rate
below US average
5.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $57,094.

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Income Needed to Buy

βœ— Stretch
$83k/year
Based on $265,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $83k vs median $57,094
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Income Needed to Rent

⚠ Stretch
$67k/year
Based on $1560/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $67k vs median $57,094
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Breckenridge, MN

Breckenridge is a charming city located in Wilkin County, Minnesota, straddling the Red River of the North and adjacent to its sister city, Wahpeton, North Dakota. Known for its small-town charm, Breckenridge boasts a close-knit community and a rich history, initially established as a trading post in the 1880s. The city thrives on agricultural and manufacturing, providing a blend of rural and urban amenities. Outdoor enthusiasts will find plenty to enjoy, with parks, recreational trails, and the scenic Red River providing opportunities for fishing, boating, and hiking. Breckenridge is also home to several annual events and festivals, which highlight local culture and foster community spirit. With a population of approximately 3,500 residents, Breckenridge offers a quiet lifestyle while also being conveniently located near larger cities. The city is proud of its educational institutions and healthcare facilities, ensuring a high quality of life for its residents. Whether you're looking for family-friendly activities or a serene environment, Breckenridge has something to offer for everyone.

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