Minnesota (MN) · Midwest Real Estate Profile
Minnesota Mortgage Payment & Property Tax Guide
Calculate your exact monthly housing expense in Minnesota. In Minnesota, the effective statewide property tax rate averages 1.08% and homeowners insurance averages 0.55% of home market value. Explore 25 pre-calculated loan scenarios below.
Effective Property Tax1.08%
Homeowners Insurance0.55%
Median Home Price$335,000
Conforming Loan Limit$766,550
Property Tax Context for Minnesota: At 1.08%, a median-priced home of $335,000 pays roughly $3,618 per year in property taxes ($302/month). Millage rates vary across counties and municipalities.
Companion Tax Engine
View Minnesota Tax Tables →Check Take-Home Pay Across All 50 States on AfterTaxMath
See exact net salary, state income tax withholding, and FICA deductions for Minnesota residents.
Monthly Payment Benchmarks in Minnesota (30-Year Fixed at 6.50%%)
Estimated monthly PITI payments assuming 20% down payment and standard 28% DTI underwriting:
| Loan Amount | Est. Home Value | 30-Yr P&I | MN Property Tax | Total PITI/mo | Required Salary | Details |
|---|---|---|---|---|---|---|
| $150,000 | $187,500 | $948/mo | $169/mo | $1,203/mo | $52,000/yr | View schedule → |
| $250,000 | $312,500 | $1,580/mo | $281/mo | $2,005/mo | $86,000/yr | View schedule → |
| $350,000 | $437,500 | $2,212/mo | $394/mo | $2,807/mo | $120,000/yr | View schedule → |
| $450,000 | $562,500 | $2,844/mo | $506/mo | $3,608/mo | $155,000/yr | View schedule → |
| $550,000 | $687,500 | $3,476/mo | $619/mo | $4,410/mo | $189,000/yr | View schedule → |
| $750,000 | $937,500 | $4,741/mo | $844/mo | $6,014/mo | $258,000/yr | View schedule → |
| $1,000,000 | $1,250,000 | $6,321/mo | $1,125/mo | $8,019/mo | $344,000/yr | View schedule → |
Browse all 25 loan amounts in Minnesota
Select any loan principal to view detailed amortization, rate sensitivity, and DTI requirements:
$100k in MN$802/mo$150k in MN$1,203/mo$200k in MN$1,604/mo$250k in MN$2,005/mo$300k in MN$2,406/mo$350k in MN$2,807/mo$400k in MN$3,207/mo$450k in MN$3,608/mo$500k in MN$4,009/mo$550k in MN$4,410/mo$600k in MN$4,811/mo$650k in MN$5,212/mo$700k in MN$5,613/mo$750k in MN$6,014/mo$800k in MN$6,415/mo$850k in MN$6,816/mo$900k in MN$7,217/mo$950k in MN$7,618/mo$1 million in MN$8,019/mo$1.1 million in MN$8,820/mo$1.2 million in MN$9,622/mo$1.3 million in MN$10,424/mo$1.4 million in MN$11,226/mo$1.5 million in MN$12,028/mo$2 million in MN$16,037/mo
Explore neighboring Midwest states
Compare mortgage payment benchmarks and property taxes across neighboring Midwest jurisdictions:
Illinois (2.08% tax)View guide →Indiana (0.81% tax)View guide →Iowa (1.50% tax)View guide →Kansas (1.34% tax)View guide →Michigan (1.38% tax)View guide →Missouri (0.93% tax)View guide →
Closing Costs & Transfer Tax in Minnesota
State deed tax is 0.33% ($1.65 per $500); Hennepin and Ramsey counties add a 0.01% environmental surcharge.