Cost of Living & Housing in Red Wing
Red Wing's cost of living centers on a genuinely moderate profile -- housing modestly below Minnesota's statewide figures, a near-statewide-average property tax rate, and a household income close to the state median.
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Learn moreA modest housing-cost advantage with a real cross-source spread
Red Wing's average home value ran a real, disclosed $288,460 (Zillow, up 0.3% year-over-year), while Redfin's median sale price ran $274,000 over the most recent 3 months (down 3.9% year-over-year) -- a real, disclosed cross-source divergence this record does not resolve into one figure, similar to Minnesota's own statewide pattern. Either figure runs modestly below Minnesota's statewide $373,830 median sale price (base record).
A moderate, near-statewide-average property tax rate
Goodhue County's property tax rate ran a real, disclosed 1.05% -- close to the middle of Minnesota's own statewide 1.04%-1.15% cluster, a genuinely moderate rate. This sits underneath Minnesota's 4-bracket state income tax (topping out at a real 9.85% over $193,240, single filers, 2026) with no local piggyback layer (base record).
A household income close to the Minnesota statewide figure
Red Wing's median household income ran a real, disclosed $65,724 in 2024 (a separate source cites $67,192) -- close to Minnesota's statewide figures and above the national median, a genuinely more balanced cost-versus-income picture than several of this pass's other Minnesota markets (base record).
Key takeaways
- Red Wing's $274,000-$288,460 home-value range sits modestly below Minnesota's statewide housing figures, with a real, disclosed cross-source spread to confirm directly.
- The 1.05% effective property tax rate sits close to the middle of Minnesota's own statewide 1.04%-1.15% average cluster.
- Minnesota's 4-bracket state income tax (up to 9.85%) and 2025's real 34% statewide homeowners-insurance rate spike apply here just as everywhere else in the state.
- A $65,724 median household income runs close to the Minnesota statewide figure, a genuinely balanced cost-to-income picture.
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