Quick facts: Vergas, MN

Quick Facts

102.8
Cost of Living
above US average
353
Population
14.16
Crime Rate per 1000
below US average
$68,125
Median Income
below US average
$235,900
Median House Price
above US average
$1560
Average Rent
above US average
11%
Poverty Rate
above US average
3.0%
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 $68,125.

🏠

Income Needed to Buy

βœ— Stretch
$74k/year
Based on $235,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $74k vs median $68,125
🏒

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 ($68,125) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Vergas, MN

Vergas is a charming small city located in Otter Tail County, Minnesota. Known for its serene natural beauty, it sits at the heart of lakes country, surrounded by numerous lakes and forests, making it an ideal spot for outdoor enthusiasts. With a population of around 300 residents, Vergas boasts a tight-knit community atmosphere where everyone knows their neighbors. The city features beautiful parks, including the well-maintained Vergas Park, which offers picnic areas, playgrounds, and a stunning view of the surrounding landscapes. Its proximity to larger towns provides access to more extensive amenities while retaining a peaceful rural lifestyle. Vergas is also famous for its unique attraction, the "World's Largest Pelican," a whimsical statue that draws visitors and serves as a symbol of the town's playful spirit. The area is rich in recreational activities such as fishing, boating, hiking, and snowmobiling during the winter months. Overall, Vergas is a delightful hidden gem for those seeking tranquility and natural beauty in Minnesota.

πŸ” Search & Compare Places

First Location πŸ“