Cost of Living in Northfield, MN
Housing
The housing market plays a significant role in determining the cost of living in Northfield, MN.
- Housing Index: 90.0 / 100
- Median Home Price is: $350,000
- Average Rent (2 BR Apartment): $1536 per month
- Average Rent (2 BR House): $1670 per month
In Northfield, MN, the housing index sits at 90.0, which suggests an affordable housing market compared to the national average. The median home price is approximately 350000, making it a feasible option for homebuyers. For renters, the average rent for a 2-bedroom apartment is around 1536, while a 2-bedroom house averages 1670. Compared to nearby cities, these rates offer a balanced option for those investing in a home or seeking rental properties. Consider your long-term goals and how living in Northfield can align with your financial plans.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Northfield, 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.): $250 per month
Living in Northfield, 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 $250 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 Northfield is a financially viable option for your relocation.