Quick facts: Verndale, MN

Quick Facts

102.8
Cost of Living
above US average
516
Population
1.94
Crime Rate per 1000
below US average
$34,053
Median Income
below US average
$698,500
Median House Price
above US average
$890.0
Average Rent
below US average
12%
Poverty Rate
above 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 $34,053.

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Income Needed to Buy

βœ— Stretch
$219k/year
Based on $698,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $219k vs median $34,053
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Income Needed to Rent

⚠ Stretch
$38k/year
Based on $890.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $38k vs median $34,053
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Verndale, MN

Verndale is a small, charming city located in Wadena County, Minnesota. With a population of around 1,000 residents, this tight-knit community is known for its friendly atmosphere and scenic surroundings. Nestled in the heart of central Minnesota, Verndale offers access to beautiful rural landscapes, including forests, lakes, and rivers, making it a great spot for outdoor enthusiasts. The city is part of the larger Wadena County, which has a rich history and offers various recreational opportunities such as fishing, hiking, and snowmobiling in the winter months. Verndale is also home to several local businesses, parks, and community events that foster a strong sense of community spirit. Education is provided by the Verndale School District, which serves students from preschool through high school. The city also hosts community gatherings and activities throughout the year, which help to maintain a vibrant local culture. With its peaceful environment and close-knit community, Verndale is a great place for those seeking a quieter lifestyle while still being close to the amenities offered by larger nearby towns.

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