HomeRule

Cost of homeownership in Minnesota

State averages from Census ACS, energy costs from DOE EIA, and appreciation from FHFA. County-level detail is below.

Avg home value
$207,495
Avg property tax
$2,043
Homeownership rate
77.9%
1yr appreciation
3.3%

Home price trend

FHFA House Price Index, quarterly.

Most expensive counties

  1. 1.Carver County$400,500
  2. 2.Washington County$379,300
  3. 3.Scott County$376,000
  4. 4.Hennepin County$358,000
  5. 5.Dakota County$341,200
  6. 6.Wright County$310,900
  7. 7.Sherburne County$306,000
  8. 8.Anoka County$302,300
  9. 9.Chisago County$299,800
  10. 10.Cook County$289,500

Most affordable counties

  1. 1.Kittson County13.1%
  2. 2.Stevens County13.3%
  3. 3.Lac qui Parle County13.4%
  4. 4.Koochiching County13.5%
  5. 5.Pipestone County13.6%
  6. 6.Swift County13.8%
  7. 7.Murray County13.8%
  8. 8.Big Stone County13.9%
  9. 9.Renville County14.0%
  10. 10.Marshall County14.1%
Avg electricity
15.8¢/kWh

DOE EIA residential average.

Avg annual energy cost
$1,709

Residential baseline.

Avg mortgage interest deduction
Pending

IRS SOI, state-level avg.

All counties in Minnesota

Frequently asked questions

How much does it cost to own a home in Minnesota?

Based on Census ACS, the state average home value in Minnesota is $207,495, with median annual property tax around $2,043. Your actual cost depends on county and property.

What is the property tax in Minnesota?

Property tax rates vary by county. Minnesota's state average sits at roughly $2,043 per year on a median home. See county-level pages for local rates.

How fast are home prices appreciating in Minnesota?

FHFA House Price Index data shows Minnesota appreciating 3.3% over the last year and 32.3% over the last five years.

Is homeownership high in Minnesota?

Minnesota's homeownership rate is 77.9% (Census ACS). The share of owner-occupied units varies widely across counties.

Data sources

Disclaimer. HomeRule is not a real estate agent, lender, appraiser, or financial advisor. This content is for educational and informational purposes only. Actual costs vary significantly by property, location, and individual circumstances. Consult qualified professionals for personalized advice.