Cost of Living in Redwood County, Minnesota
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Redwood County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Redwood County ranks #382 of 3,144 counties for affordability (top 12%)
Data Story
About Cost of Living in Redwood County, Minnesota
Redwood County beats national affordability norm
Redwood County's rent-to-income ratio of 13.7% falls below the national average of 14.5%, delivering above-average housing affordability. With a median household income of $67,024 and median rent of $767, renters keep costs lean despite the county's modest income base.
Better than Minnesota's rental affordability average
Redwood County's 13.7% rent-to-income ratio undercuts Minnesota's 14.5% state average, ranking among the state's most affordable markets. The median rent of $767 trails the state median of $915 by $148.
Second-cheapest rents; lowest owner costs
Redwood's $767 rent trails only Pipestone's $731, offering exceptional value for renters. Owner costs of $784 monthly match Pipestone's and beat all peers, making Redwood attractive for both renters and homebuyers.
Housing leaves maximum budget flexibility
On a $67,024 median income, Redwood renters allocate 13.7% ($767) to housing, among the lowest ratios statewide. Homeowners spend 14.0% ($784), making both renting and owning exceptionally affordable relative to income.
Redwood delivers rural affordability excellence
Redwood County combines rural affordability with balanced income, offering strong value for relocating families. At $767 rent and $784 owner costs, Redwood rivals Red Lake and Pipestone for the state's best housing affordability.
Cost of Living Advisory: Redwood County
Affordability Verdict
For renters in Redwood County, the market is affordable. Expect to pay around $767/month in gross rent, with 25.0% of renter households considered cost-burdened.
Rent vs. Own
Renters in Redwood County pay $767/month on average, compared to $784/month for homeowners. This market favors renters by about 2%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $30,680/year. For owner costs at the 28% rule, the required income is roughly $33,600/year. With a median household income of $67,024, most households can comfortably afford rent here. Notably, 25.0% of renter households in Redwood County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Redwood County sits 6% less expensive than Waseca County ($819/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Redwood County
Rent Burden
13.7%
of gross income
Max Housing (28% Rule)
$1,564
per month
Owner Cost Burden
14.0%
of gross income
You can likely afford the median home in Redwood County
Median home value is $150,400. Estimated monthly cost: $1,201 vs. your max of $1,564.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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