Cost Of Living
Taking into account the cost of goods and services like housing, groceries, transportation and utilities, the overall cost of living in this area is well below average.
Housing
High scores in the housing category are a distinguishing feature of this area, possibly driven by a favorable home affordability ratio, higher home values and appreciation rates.
Health & Safety
Good air quality as well as nearby health facilities like hospitals, clinics, nursing homes, fire and police stations all contribute to a higher than average health and safety score.
Amenities
The majority of amenities are not ideally located within walking distance. To access these amenities, residents may be required to rely on a vehicle or public transit.
Commute
A low commute score could be due to longer-than-average work commutes and the limited availability of public transportation in this area.
Pipestone, Minnesota is a small-sized city with a population of 4,046 inhabitants. If we look at the most recent Census, Pipestone is known to have a predominantly White population. The next two most common races are Black and American Indian and Alaskan. If you are not a fan of long commutes, you will enjoy living in Pipestone. With an average one way commute time of only 17 minutes, getting to and from work is a breeze compared to the national average of 26 minutes.
If you’re considering relocating to any new city, it could be a very daunting task. However, it could also be a good experience if you are willing to get to know the town before actually living in Pipestone, Minnesota. When searching for a new neighborhood, several key items should be considered. Safety is of utmost importance, ensuring a secure environment with low crime. Proximity to your workplace or school helps reduce commuting time and offers convenience. Access to amenities such as parks, grocery stores, and healthcare facilities enhances your daily life. Public transportation options contribute to easy mobility. A sense of community fosters a supportive and engaging environment. Lastly, the overall atmosphere should align with your desired lifestyle, ensuring a fulfilling living experience. Considering these items will guide you towards finding the perfect neighborhood that fits all your needs. Using the livability score which includes data from categories like crime, commute, education, housing, you can easily compare the best places to live in Pipestone and also determine if there are any nearby cities that might be a better match for your lifestyle. You can also compare Pipestone to Minnesota and the national average.
Pipestone, MN receives 71/100 for its livability score; this results in a ranking of #235 in Minnesota and #5,671 in the USA. There are nine total categories that create the livability score. Pipestone ranks well for crime (B-) and housing (B+) On a more negative note, Pipestone does not have favorable ranks for the following: amenities (F) and employment (D-). If we take a look at the data, we can find out why.
The impact of the cost of living on your monthly financial situation cannot be overstated. Whether it's housing expenses, grocery bills or healthcare costs, it's crucial to ensure that your chosen place of residence is not only comfortable but also affordable. Fortunately, in Pipestone, the cost of living is 22.48% below the national average, offering the assurance that after meeting your financial obligations, there may be a surplus left in your wallet. This financial advantage not only promotes financial stability but also opens up opportunities for savings and a better quality of life. In a world where expenses can be overwhelming, Pipestone stands out as a place where you can enjoy both comfort and fiscal responsibility, ensuring a brighter financial future.
Unemployment rates can vary significantly among cities, impacting job prospects, wage levels and the overall economic health of an area. In Pipestone, the unemployment rate stands at 2.29%, suggesting increased job opportunities and a heightened demand for workers. This scenario can lead to higher wages, as the demand for employees outpaces job availability. Importantly, a low unemployment rate often signifies a robust and flourishing local economy.
Real estate represents the most substantial investment for homebuyers, constituting their most valuable asset. Renters, on the other hand, typically see their monthly rent as their most significant expense. The Pipestone market earns a high score in the housing category, surpassing the national average in factors like home and rental affordability and appreciation rates. This robust real estate market not only benefits individual homeowners and renters but also spurs vigorous local economic activity and job growth, solidifying its significance in driving the region's prosperity and financial well-being.
Assuming that Pipestone meets all of your requirements like low crime rates, good schools and great local amenities, the next most important item to examine is the affordability of real estate in Pipestone. Everything else becomes a lot less important if it turns out that home prices in Pipestone are simply unattainable. The median home price for Pipestone homes is $84,400, which is 55.9% lower than the Minnesota average. If we take a closer look at the affordability of homes in Pipestone, we’ll see that the home price to income ratio is 1.9, which is 36.7% lower than the Minnesota average.
| Statistic | Pipestone | Minnesota | National |
| Average one way commute | 17min | 23min | 26min |
| Workers who drive to work | 80.2% | 78.0% | 76.4% |
| Workers who carpool | 15.9% | 8.7% | 9.3% |
| Workers who take public transit | 0.0% | 3.5% | 5.1% |
| Workers who bicycle | 0.0% | 0.8% | 0.6% |
| Workers who walk | 0.9% | 2.8% | 2.8% |
| Working from home | 1.7% | 5.3% | 4.6% |
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