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Cold Spring Real Estate Market Facts

  • $149,200Median home price
    22% lower than Minnesota
  • $768Median rent asked
    12% lower than Minnesota
  • 78.5%Home owners
    10% higher than Minnesota
  • 2.0People per home
    16% lower than Minnesota
Above is a snapshot look at the real estate market in Cold Spring, MN. In Cold Spring, MN, the median house price is $149,200, making the price 22% lower than that the average for Minnesota. Therefore, the affordability of Cold Spring, MN area real estate is more affordable than the real estate in other areas of Minnesota. In addition, Cold Spring, MN has a median rent price of $768; this price is 12% lower than that the average rental price for Minnesota. 78.5% of residents in Cold Spring, MN are homeowners, and the average amount of people who reside in each home is 2.0. Cold Spring, MN has a wide array of real estate options available, ranging from cost-friendly condos to high-end luxury homes. We filter listings by number of bathrooms and bedrooms, price and area to simplify the search process for Cold Spring, MN real estate for sale.

Cold Spring Home Affordability

  • $149,200Median home price
    22% lower than Minnesota
  • $56,055Median home income
    11% lower than Minnesota
  • 2.7xHome price to income ratio
    12% lower than Minnesota
When looking for real estate in Cold Spring, MN, nothing is more important than affordability. There are several methods to calculate the affordability of a home, but perhaps the best way is the home price to median household income ratio. In Cold Spring, MN, the median price of a home is $149,200 and $56,055 is the median household income. This means that the home price to income ratio is 2.7x, a ratio that is 12% lower than the average in Minnesota. The median home price is divided by the median home income to calculate the home affordability ratio. Homes in Cold Spring, MN will be more financially accessable if the ratio has a lower than average home price to home income. These are not the only aspects to look at when determining the affordability of a home. A home affordability calculator offers a much more exact overview of the true affordability of a property. Use the calculator below to better determine how much you can pay for real estate in Cold Spring, MN.

Cold Spring Affordability Calculator

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Before beginning your real estate search in Cold Spring, MN, you can target your search for the perfect home with the help of the home affordability calculator. Using the home affordability calculator you can figure out exactly how much you can spend on your new home in Cold Spring, MN. The home affordability calculator takes into account your gross income, debts, and the amount of the down payment that you have available to put towards your new home. The calculator even allows you to calculate financial details like length of mortgage term, mortgage rate, property taxes, and HOA dues to determine your budget. With such a detailed and customized estimate of what homes you can afford in Cold Spring, MN, this can prevent you from making an emotional investment in a home that is out of your price range. The home affordability calculator gives you the opportunity to accurately plan your total budget for housing, living expenses, and how much money you will have left to put aside for savings.

Cold Spring Mortgage Calculator

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If I buy real estate in Cold Spring, MN, how much will I have to pay per month? A number of factors can affect the size of monthly payments involved in a home purchase. Naturally, the cost of the home is the main factor. Beyond the price, however, you will also have to look at the loan term, down payment, interest rate, home insurance and property taxes as well as HOA dues and PMI, or private mortgage insurance. Of course, for homeowners who can put at least 20 percent on a down payment, PMI payments would not exist. Details like these are presets in the mortgage calculator, and adjustments can be made to ensure the accuracy of monthly payment estimates. Just remember that the DTI, or debt-to-income ratio, should generally be kept at or below 36 percent. In other words, you are paying 36 percent or less of your monthly income towards all of your debts.

Cold Spring Demographics

  • 4,071Population
  • 1,526People / sq mile
  • 36.9Median age
  • 0.8:1Male/Female ratio

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
Eden Valley, MN981$89,30052%
Watkins, MN929$96,90048%
South Haven, MN198$101,90045%
Roscoe, MN104$106,30042%
St. Martin, MN342$120,10035%
Cold Spring, MN4,071$149,20019%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Colorado City, TX4,071$32,30083%
Cotulla, TX4,071$62,50066%
Manchester, GA4,071$72,50061%
Holloman AFB, NM4,070$0100%
Waynesburg, PA4,070$90,60051%
Cold Spring, MN4,071$149,20019%
Source: The Cold Spring, MN housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).