CALCMONEY // HOME AFFORDABILITY // MN // SAINT PAUL
How much house can you afford in Saint Paul? Based on local median home prices, current MN mortgage rates, and Saint Paul property tax data.
$278,000
$1,866/mo
$79,950/yr
$211,791
Monthly housing costs of $1,866 represent 34.4% of Saint Paul's median gross monthly income ($5,417/mo). At 34.4%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $278,000 |
| Down Payment (20%) | $55,600 |
| Loan Amount | $222,400 |
| Monthly PI Payment | $1,465 |
| Monthly Property Tax | $285 |
| Monthly Insurance Est. | $116 |
| Total Monthly PITI | $1,866 |
| Housing Cost % of Income | 34.4% |
| Required Income (28% rule) | $79,950/yr |
| Max Affordable Home | $211,791 |
$9,730
$2,358/mo
Saint Paul Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $278,000 | Saint Paul city median |
| Down Payment (20%) | $55,600 | Conventional loan |
| Monthly PITI | $1,866 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $79,950 | Annual gross |
| Max Affordable Home | $211,791 | Based on median income |
| FHA Down (3.5%) | $9,730 | Minimum FHA |
| Housing Cost % of Income | 34.4% | Median income: $65,000/yr |
| Property Tax Rate | 1.23% | $3,419/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Saint Paul is $278,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $222,400, generating a monthly P&I payment of $1,465. Adding property taxes ($285/mo) and homeowners insurance ($116/mo) brings total monthly PITI to $1,866.
Saint Paul's property tax rate of 1.23% is near the national average, adding a standard increment to monthly housing costs. On the Saint Paul median home, that is $285/month, or $3,419 per year.
Minnesota levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Saint Paul should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Saint Paul's median income of $65,000/year can afford up to $1,517/month in total housing costs. Based on Saint Paul's mortgage rate of 6.9% and property tax rate of 1.23%, that translates to a maximum affordable home price of approximately $211,791 with 20% down on a 30-year loan.
To afford the median Saint Paul home priced at $278,000, you need an annual gross income of approximately $79,950. Total monthly housing costs (principal and interest of $1,465, property taxes of $285, and insurance of $116) come to $1,866/month, which equals 28% of the required income.
At the median home price of $278,000 and median household income of $65,000, the total monthly housing cost of $1,866 represents 34.4% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Saint Paul home of $278,000 is $55,600. An FHA loan requires just 3.5% down — $9,730 — but adds mortgage insurance of roughly $190/month, bringing total FHA payments to $2,358/month.
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