CALCMONEY // MORTGAGE // MN
Calculate your monthly mortgage payment using Minnesota-specific property tax rates, current average interest rates, and local median home prices.
Open Full Calculator$356,066
6.76%
1%
5.35%–9.85%
How today's 6.76% rate compares to recent years
| Period | 30-Yr Rate | vs. Today |
|---|---|---|
| 2026 (current) | 6.76% | — |
| 2024 avg | 7.18% | -0.42% |
| 2023 avg | 7.61% | -0.85% |
| 2022 peak | 7.44% | -0.68% |
| 2021 avg | 3.36% | +3.40% |
| 2020 avg | 3.16% | +3.60% |
Rate estimates based on Freddie Mac Primary Mortgage Market Survey national averages adjusted for Minnesota market conditions. Actual rates vary by lender and borrower profile.
| Principal & Interest | $1,849 |
| Property Tax | $297 |
| Homeowners Insurance (est.) | $119 |
| Total Monthly Payment (PITI) | $2,265 |
$71,213
$380,947
$97,065/yr
Minnesota homebuyers face a $356,066 median price, 15% below the national figure. Against the state's $87,117 median household income, that's a 4.1x price-to-income ratio.
Property taxes in Minnesota average 1% of assessed value, below the 1.1% national average. On the median home, that's $3,561 a year, or $297 added to the monthly payment.
Unlike the nine no-income-tax states, Minnesota taxes wage income at 5.35%–9.85%. Worth running your actual take-home pay against the $2,265/month payment here before locking in a target price.
Day-to-day expenses statewide track at 94 against the national 100 baseline, below average once you look past the mortgage payment itself.
Minnesota's median home price runs 4% higher than Wisconsin: $343,798 there versus $356,066 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $284,853 loan saves $12,818 in interest over 30 years.
Compare Top Minnesota Mortgage LendersWisconsin
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