Cost of Living in Herman, MN
Housing
The housing market plays a significant role in determining the cost of living in Herman, MN.
- Housing Index: 103 / 100
- Median Home Price is: $121,000
- Average Rent (2 BR Apartment): $1560 per month
- Average Rent (2 BR House): $1696 per month
Considering a move to Herman, MN? The current housing index is remarkably low at 103, indicating a potential market ripe for investment. With the median home price at 121000, you could secure a property at a significantly affordable rate. However, notable data on average rents for 2-bedroom apartments and houses are currently unavailable 1560, 1696. This prompts further investigation into rental pricing, which can impact your budget if renting. Overall, it may present a compelling opportunity for homeownership in a likely growing community.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Herman, MN.
- Electricity Price: $16.38 USD (median by state)
- Natural Gas Price: $14.87 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $233 per month
Living in Herman, MN could entail higher utility costs. Electricity costs sit at $16.38, while natural gas is priced at $14.87 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $233 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Herman is a financially viable option for your relocation.