Austin was ranked as the fifth most affordable place to live in Minnesota, according to a study conducted by financial technology company SmartAsset.

This is SmartAsset’s fifth annual study on the Most Affordable Places in America.

Communities are ranked on an Affordability Index weighing property taxes, homeowners’ insurance fees and mortgage payments relative to income.

According to SmartAsset, the top 10 most affordable communities in Minnesota are:

1. Montevideo

• Average Closing Costs: $2,557
• Average Annual Property Tax: $1,045
• Average Annual Homeowner’s Insurance: $580
• Average Annual Mortgage Payment: $3,923
• Median Income: $50,625

2. Otsego

• Average Closing Costs: $2,424
• Average Annual Property Tax: $2,200
• Average Annual Homeowner’s Insurance: $1,366
• Average Annual Mortgage Payment: $9,235
• Median Income: $99,037

3. Byron

• Average Closing Costs: $3,305
• Average Annual Property Tax: $2,658
• Average Annual Homeowner’s Insurance: $1,252
• Average Annual Mortgage Payment: $8,467
• Median Income: $90,486

4. Redwood Falls

• Average Closing Costs: $2,681
• Average Annual Property Tax: $1,249
• Average Annual Homeowner’s Insurance: $647
• Average Annual Mortgage Payment: $4,372
• Median Income: $47,020

5. Austin

• Average Closing Costs: $2,746
• Average Annual Property Tax: $974
• Average Annual Homeowner’s Insurance: $681
• Average Annual Mortgage Payment: $4,604
• Median Income: $46,923

6. International Falls

• Average Closing Costs: $2,579
• Average Annual Property Tax: $897
• Average Annual Homeowner’s Insurance: $592
• Average Annual Mortgage Payment: $4,002
• Median Income: $41,241

7. St. Francis

• Average Closing Costs: $2,326
• Average Annual Property Tax: $2,001
• Average Annual Homeowner’s Insurance: $1,179
• Average Annual Mortgage Payment: $7,972
• Median Income: $77,935

8. Isanti

• Average Closing Costs: $2,992
• Average Annual Property Tax: $2,156
• Average Annual Homeowner’s Insurance: $1,007
• Average Annual Mortgage Payment: $6,810
• Median Income: $70,129

9. Zimmerman

• Average Closing Costs: $3,120
• Average Annual Property Tax: $1,833
• Average Annual Homeowner’s Insurance: $1,107
• Average Annual Mortgage Payment: $7,486
• Median Income: $73,167

10. St. Michael

• Average Closing Costs: $2,515
• Average Annual Property Tax: $2,925
• Average Annual Homeowner’s Insurance: $1,592
• Average Annual Mortgage Payment: $10,766
• Median Income: $102,862

Austin’s best showing on this list was in average property taxes, ranking second lowest to International Falls; however, Austin ranked second lowest in median income.

Nationally, Austin ranked 279th in affordability, according to the study. Mower County ranked 614th out of all U.S. counties.

For more information on the study, visit https://smartasset.com/mortgage/how-much-house-can-i-afford#minnesota.