$940
Total Monthly Price
- 1 Bed
- 1 Bath
- 546 Sq Ft
- 2023 Hibbing
2023 7th Ave E Unit 2023 Hibbing Unit 1 (lower), Hibbing, MN 55746
Frequently Asked Questions
How much does it cost to rent a home in Hibbing, MN?
The median rent for a home in Hibbing, MN is $940 per month, though prices vary by neighborhood, size, and property type. As of June 2026, condos tend to be the most affordable option.
How much do you need to make to afford rent in Hibbing, MN?
To comfortably afford the median rent in Hibbing, MN, a household needs to earn roughly $37,600 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $940 per month in Hibbing, MN, renters typically need to show $2,820 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Hibbing, MN?
In Hibbing, MN, the price-to-rent ratio is 14.2, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
