Quick facts: Makinen, MN

Quick Facts

102.8
Cost of Living
above US average
1,250
Population
16.0
Crime Rate per 1000
below US average
$87,697
Median Income
above US average
$205,000
Median House Price
above US average
$1560
Average Rent
above US average
10%
Poverty Rate
below US average
4.2%
Unemployment Rate
above 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 $87,697.

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Income Needed to Buy

βœ“ Affordable
$64k/year
Based on $205,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($87,697) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$67k/year
Based on $1560/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($87,697) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Makinen, MN

Makinen is a small community located in St. Louis County, Minnesota. Nestled in the scenic northern part of the state, it offers a tranquil rural atmosphere surrounded by nature. The area is known for its beautiful landscapes, including forests, lakes, and rivers, making it a great destination for outdoor enthusiasts. Local attractions include various recreational opportunities such as hiking, fishing, and snowmobiling, especially given Minnesota's rich natural resources and extensive trail networks. The nearby Boundary Waters Canoe Area Wilderness provides pristine wilderness experiences with canoeing and camping options. The community is small, with a close-knit population that values local events and gatherings. While Makinen itself has limited commercial amenities, neighboring towns provide essential services, shopping, and dining options. Overall, Makinen epitomizes the charm of small-town Minnesota, offering peace and access to nature, making it an ideal spot for those seeking to escape the hustle and bustle of city life.

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