Quick facts: Warren, MN

Quick Facts

102.8
Cost of Living
above US average
1,566
Population
6.39
Crime Rate per 1000
below US average
$55,882
Median Income
below US average
$115,000
Median House Price
above US average
$1200.0
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 $55,882.

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Income Needed to Buy

βœ“ Affordable
$36k/year
Based on $115,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($55,882) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$51k/year
Based on $1200.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($55,882) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Warren, MN

Warren, Minnesota, is a small city located in Marshall County in the northwestern part of the state. Known for its friendly community and rural charm, Warren has a population of around 1,500 residents. The city serves as the county seat and is a hub for local agriculture and services. Warren is surrounded by picturesque landscapes, featuring beautiful farmland, lakes, and parks that appeal to nature enthusiasts. The nearby Red River Valley offers opportunities for fishing, hiking, and other outdoor activities. The city has a rich history, with several historic buildings and landmarks that tell the story of its development over the years. The local economy is primarily driven by agriculture, with many residents engaged in farming and related businesses. Warren provides essential services, including schools, healthcare, and retail shops, making it a convenient place for residents. Community events, such as fairs and festivals, add to the city’s vibrant culture and community spirit. Overall, Warren, MN, offers a peaceful rural lifestyle with a strong sense of community and a connection to the surrounding natural beauty.

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