Quick facts: Caledonia, MN

Quick Facts

102.8
Cost of Living
above US average
2,831
Population
1.77
Crime Rate per 1000
below US average
$61,842
Median Income
below US average
$244,900
Median House Price
above US average
$669.0
Average Rent
below US average
10%
Poverty Rate
below US average
3.5%
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 $61,842.

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Income Needed to Buy

βœ— Stretch
$77k/year
Based on $244,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $77k vs median $61,842
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Income Needed to Rent

βœ“ Affordable
$29k/year
Based on $669.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($61,842) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Caledonia, MN

Caledonia is a small city located in Houston County, Minnesota. Nestled in the scenic bluff country of southeastern Minnesota, Caledonia serves as the county seat and showcases a charming small-town atmosphere. With a population of just over 2,800 residents, the city is known for its rich history and strong sense of community. The area is characterized by its picturesque landscapes, with rolling hills and lush greenery, making it popular for outdoor activities like hiking and fishing. The city is also home to several parks, providing recreational opportunities for families and residents. Local events, such as the annual Caledonia Bullfrogs Festival, highlight the community spirit and bring locals together. The city has a mix of local businesses, restaurants, and services that foster a welcoming environment. Education is served by the Caledonia School District, which emphasizes quality learning. With its friendly atmosphere, beautiful surroundings, and community-focused initiatives, Caledonia offers a peaceful lifestyle in a rural setting.

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