Quick facts: Winnebago, MN

Quick Facts

102.8
Cost of Living
above US average
1,391
Population
2.88
Crime Rate per 1000
below US average
$58,750
Median Income
below US average
$139,900
Median House Price
above US average
$1560
Average Rent
above US average
11%
Poverty Rate
above US average
3.2%
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 $58,750.

🏠

Income Needed to Buy

βœ“ Affordable
$44k/year
Based on $139,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($58,750) exceeds requirement
🏒

Income Needed to Rent

⚠ Stretch
$67k/year
Based on $1560/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $67k vs median $58,750
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Winnebago, MN

Winnebago is a small city located in Faribault County in south-central Minnesota. With a population of around 1,500 residents, it offers a tight-knit community atmosphere characterized by friendly locals and a slower pace of life. The city covers an area of approximately 1.1 square miles and is primarily residential with some commercial zones that cater to essential needs. Winnebago is situated near the picturesque Blue Earth River and is surrounded by beautiful natural landscapes, making it ideal for outdoor activities like fishing, hiking, and camping. The city prides itself on its local parks, which provide recreational spaces for families and residents to enjoy. Winnebago has a rich history, with early beginnings that date back to the late 19th century. It retains historical charm with several well-preserved buildings and sites. The local economy is diverse, with agriculture playing a significant role, along with small businesses and services. The city fosters community engagement through various events and activities throughout the year, promoting a sense of belonging among its residents. Winnebago stands out as a peaceful and friendly place to call home in Minnesota.

πŸ” Search & Compare Places

First Location πŸ“