Quick facts: Henning, MN

Quick Facts

102.8
Cost of Living
above US average
861
Population
5.81
Crime Rate per 1000
below US average
$43,611
Median Income
below US average
$149,000
Median House Price
above US average
$892.5
Average Rent
below US average
7%
Poverty Rate
below US average
3.2%
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 $43,611.

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Income Needed to Buy

βœ— Stretch
$47k/year
Based on $149,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $47k vs median $43,611
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Income Needed to Rent

βœ“ Affordable
$38k/year
Based on $892.5/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($43,611) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Henning, MN

Henning is a charming small town located in Otter Tail County, Minnesota. With a population of around 1,000 residents, Henning embodies the essence of rural Midwest living. The town is situated near the scenic Otter Tail River, which offers various outdoor recreational opportunities such as fishing, boating, and hiking. Henning is known for its friendly community atmosphere, where local events bring residents together, promoting a strong sense of belonging. The town hosts several annual festivals and gatherings, highlighted by the Henning Community Festival, which showcases local culture and fosters community pride. The area surrounding Henning is characterized by beautiful lakes and lush landscapes, making it an attractive destination for nature enthusiasts. Local businesses contribute to the economy, and the town features essential amenities that cater to residents' daily needs. For those interested in exploring the great outdoors, Henning is conveniently located near various parks and recreational areas, as well as a short drive to larger cities that offer additional amenities and attractions. Overall, Henning is a perfect representation of small-town life in Minnesota, rich in community spirit and natural beauty.

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