Fergus Falls Residents Spend Hundreds Less in Mortgage Payments Than the National Average
This article was originally published on FergusNow.com
Fergus Falls, MN – A recent report of the average cost of living for Americans shows household bills for Fergus Falls are 8% lower than the national average, mostly due to lower average mortgage and rent payments.
According to a report from doxo.com, the average Fergus Falls resident spends $1,003 per month on their mortgage payment, while the National average payment is $1,402.
The rent prices are even lower, with the average renter in Fergus paying $764 compared to most Americans’ $1,300.
However, if you look at just the other bills, residents in Fergus Falls are paying about 15% higher than most Americans, and when adjusted for income, Fergus Falls is rated 44% higher than the national average.
The report also shows Fergus Falls is the 64th most expensive city in Minnesota for household bills, just behind Moorhead.