Quick facts: Fulda, MN

Quick Facts

102.8
Cost of Living
above US average
1,345
Population
4.46
Crime Rate per 1000
below US average
$69,583
Median Income
below US average
$289,900
Median House Price
above US average
$616.0
Average Rent
below US average
9%
Poverty Rate
below US average
3.3%
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 $69,583.

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Income Needed to Buy

βœ— Stretch
$91k/year
Based on $289,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $91k vs median $69,583
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Income Needed to Rent

βœ“ Affordable
$26k/year
Based on $616.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($69,583) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Fulda, MN

Fulda is a small city located in the southwestern part of Minnesota, within Murray County. With a population of approximately 1,400 residents, it embodies the charm of rural Midwestern life. The city is known for its friendly community atmosphere and offers various local amenities, including parks, schools, and small businesses. Fulda features a rich agricultural background, surrounded by picturesque farmland and scenic views. The town is also home to several recreational opportunities, such as hiking and biking trails, which make it a great place for outdoor enthusiasts. The nearby Fulda Area Museum highlights the local history and cultural heritage. The community hosts events throughout the year that bring residents together, fostering a strong sense of belonging. The local economy is primarily driven by agriculture, but there is an increasing emphasis on supporting small businesses and local services. In summary, Fulda combines a tight-knit community with access to natural beauty and a slower pace of life, making it an inviting spot in Minnesota for those who appreciate rural living.

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