Quick facts: Pequot lakes, MN

Quick Facts

102.8
Cost of Living
above US average
2,440
Population
4.92
Crime Rate per 1000
below US average
$73,125
Median Income
below US average
$179,900
Median House Price
above US average
$4000.0
Average Rent
above US average
9%
Poverty Rate
below US average
3.5%
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 $73,125.

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Income Needed to Buy

βœ“ Affordable
$56k/year
Based on $179,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($73,125) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$171k/year
Based on $4000.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $171k vs median $73,125
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Pequot lakes, MN

Pequot Lakes is a picturesque city located in Crow Wing County, Minnesota. Nestled in the heart of the Brainerd Lakes area, it is renowned for its stunning natural beauty, surrounded by lakes, forests, and recreational opportunities. The area is perfect for outdoor enthusiasts, offering activities such as fishing, hiking, snowmobiling, and boating. The city has a rich history, with charming local shops, cafes, and a welcoming community atmosphere. Pequot Lakes is also known for its vibrant arts scene, hosting events that celebrate local culture. The annual Pequot Lakes Arts and Crafts Festival attracts visitors from near and far. For families, the city offers good schools and various community programs, making it a great place to live and raise children. With its proximity to larger cities like Brainerd and Baxter, residents enjoy a blend of small-town charm and access to more urban amenities. Whether you're looking to relax by the lake or explore the great outdoors, Pequot Lakes is a delightful destination in Minnesota.

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