Total monthly cost of ownership
Cost to Own a Home in Ada, Minnesota
A $141,000 home here costs
$1,257per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $725. The real number is $532 higher every month — 73% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Ada against Norman County and Minnesota
| Measure | Ada | Norman County |
|---|---|---|
| Median home value | $140,500 | $135,700 |
| Median property tax | $1,589 | $1,341 |
| Effective tax rate | 1.131% | 0.988% |
| Median gross rent | $697 | $752 |
| Population | 1,834 | 6,411 |
The weather behind that power bill
Ada sits in Norman County, which averages a high of 80.7°F in its hottest month and a low of -3.9°F in its coldest, with 25.04" of precipitation a year and 46% of it in a single three-month stretch. That climate drives 392 cooling and 9,471 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Norman County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Norman County
No other places of this size are published in Norman County.
Full Norman County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Ada?
A $141,000 home in Ada, Minnesota costs approximately $1,257 per month with 20% down at 6.66%. That is $725 principal and interest, $133 property tax, $61 homeowners insurance, $220 utilities and $118 set aside for maintenance.
What is the property tax rate in Ada?
Ada has an effective property tax rate of 1.131%, based on a median home value of $140,500 and median real estate taxes of $1,589. That is higher than the Norman County average of 0.988%.
What is the average home price in Ada?
The median owner-occupied home value in Ada, Minnesota is $140,500, against $135,700 across Norman County.
Is it cheaper to rent or buy in Ada?
Median gross rent in Ada is $697 a month, against $1,257 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ada — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Minnesota.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.