Quick facts: Byron, MN

Quick Facts

102.8
Cost of Living
above US average
6,711
Population
4.02
Crime Rate per 1000
below US average
$126,250
Median Income
above US average
$185,000
Median House Price
above US average
$2650.0
Average Rent
above US average
Poverty rate Data is updating, will be available soon
2.9%
Unemployment Rate
below 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 $126,250.

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Income Needed to Buy

βœ“ Affordable
$58k/year
Based on $185,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($126,250) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$114k/year
Based on $2650.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($126,250) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Byron, MN

Byron is a charming city located in Olmsted County, Minnesota, known for its small-town atmosphere and friendly community. Situated just 10 miles northwest of Rochester, Byron offers residents a blend of suburban convenience and natural beauty. The city features a variety of parks, outdoor recreational areas, and trails, making it ideal for families and outdoor enthusiasts. Byron's population has been growing steadily, reflecting its appeal as a desirable place to live. The city boasts a range of amenities, including schools, shops, and restaurants, ensuring that residents have access to everyday conveniences. The local school district is highly regarded, providing quality education for children. Cultural events and community gatherings are common, fostering a strong sense of community among residents. With its proximity to Rochester, Byron also benefits from easy access to the medical facilities and cultural attractions of a larger city, making it an attractive option for those who appreciate the quiet of suburban life while still wanting to stay connected to urban amenities.

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