🏦 Mortgage Calculators Minnesota

How Much House Can I Afford in Minnesota?

Find out how much house you can afford in Minnesota with 1.12% property tax. Uses 28/36 rule with Minnesota-specific data.

Free — No Sign-up Verified Data Editorially Reviewed Updated Feb 2026

Minnesota Quick Facts

9.8% Income Tax Rate

1.12% Property Tax Rate

$77,706 Median Income

96.8 Cost of Living

How This Calculator Works

Calculation methodology and assumptions

Calculates home affordability in Minnesota using the 28/36 rule. Maximum 28% of gross monthly income for housing (PITI). Includes Minnesota's effective property tax rate of 1.12% and average home insurance of $1,980/year. Median home price in Minnesota: $330,000.

Key State Information

Minnesota housing market: Median home price $330,000 | Property tax rate 1.12% | Avg home insurance $1,980/yr | Median household income $77,706. Home prices are moderate relative to income.

Standard financial formulas Pre-filled with real state data Estimates only — not financial advice

Data Source

Census Bureau, Zillow, Tax Foundation

View Original Source | Verified 2024-12-01 | Updated annually

Frequently Asked Questions

How much house can I afford on the median income in Minnesota?

With Minnesota's median household income of $77,706 and a 10% down payment, you can typically afford a home priced around $271,971-$349,677 depending on debts and interest rates. The median home in Minnesota costs $330,000.

What is the property tax rate in Minnesota?

Minnesota's effective property tax rate is 1.12%. On a $330,000 home, that's approximately $3,696/year or $308/month.