Quick facts: Cottage grove, MN

Quick Facts

102.8
Cost of Living
above US average
41,033
Population
10.07
Crime Rate per 1000
below US average
$117,673
Median Income
above US average
$509,990
Median House Price
above US average
$2774.5
Average Rent
above US average
5%
Poverty Rate
below US average
3.9%
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 $117,673.

🏠

Income Needed to Buy

βœ— Stretch
$160k/year
Based on $509,990 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $160k vs median $117,673
🏒

Income Needed to Rent

⚠ Stretch
$119k/year
Based on $2774.5/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $119k vs median $117,673
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Cottage grove, MN

Cottage Grove, Minnesota, located just southeast of the Twin Cities, is a vibrant suburban community known for its family-friendly atmosphere and ample recreational opportunities. With a population of around 38,000, the city features a blend of residential neighborhoods, parks, and commercial areas. Cottage Grove is home to over 1,500 acres of parkland, including the popular Cottage Grove Ravine Regional Park, which offers hiking trails, picnic areas, and stunning views of the Mississippi River valley. The city also boasts several community events year-round, fostering a strong sense of community among residents. Education is a priority in Cottage Grove, with the South Washington County School District providing quality schooling options for families, including public, private, and charter schools. The city is well-connected through major highways, making it easy to access the cultural and economic resources of the nearby Twin Cities. Cottage Grove's development has been guided by a vision for sustainable growth, making it an attractive option for those seeking a suburban lifestyle with the convenience of urban amenities close at hand.

πŸ” Search & Compare Places

First Location πŸ“