Quick facts: Red wing, MN

Quick Facts

102.8
Cost of Living
above US average
16,672
Population
28.49
Crime Rate per 1000
above US average
$65,107
Median Income
below US average
$260,000
Median House Price
above US average
$1995.0
Average Rent
above US average
8%
Poverty Rate
below US average
3.7%
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 $65,107.

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Income Needed to Buy

βœ— Stretch
$82k/year
Based on $260,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $82k vs median $65,107
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Income Needed to Rent

⚠ Stretch
$85k/year
Based on $1995.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $85k vs median $65,107
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Red wing, MN

Red Wing, Minnesota, is a charming city located in Goodhue County, along the scenic shores of the Mississippi River. Known for its rich history and vibrant culture, Red Wing was founded in 1857 and has since become famous for its pottery and shoe manufacturing, particularly the iconic Red Wing Shoes brand. The city boasts a picturesque landscape characterized by rolling hills, bluffs, and river views, making it a popular destination for outdoor enthusiasts. Visitors can explore a variety of recreational opportunities, including hiking, fishing, and boating, particularly in the nearby Barn Bluff and the River Bluff Trail. Red Wing is also home to several historic sites, including the beautiful historic downtown area, filled with shops, cafes, and art galleries. The National Eagle Center, located nearby in Wabasha, offers insight into the region's wildlife and conservation efforts. The city hosts numerous events throughout the year, such as the Red Wing Artisan Fair and the Great River Shakespeare Festival, highlighting its commitment to arts and community engagement. With its unique blend of history, culture, and natural beauty, Red Wing remains a captivating destination in southeastern Minnesota.

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