Total monthly cost of ownership
Cost to Own a Home in Aitkin, Minnesota
A $173,000 home here costs
$1,446per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $889. The real number is $557 higher every month — 63% 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.
Aitkin against Aitkin County and Minnesota
| Measure | Aitkin | Aitkin County |
|---|---|---|
| Median home value | $172,800 | $235,100 |
| Median property tax | $1,403 | $1,346 |
| Effective tax rate | 0.812% | 0.573% |
| Median gross rent | $657 | $912 |
| Population | 2,217 | 15,930 |
The weather behind that power bill
Aitkin sits in Aitkin County, which averages a high of 79.1°F in its hottest month and a low of 0.1°F in its coldest, with 31.9" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 270 cooling and 9,141 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Aitkin County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Aitkin County
No other places of this size are published in Aitkin County.
Full Aitkin County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Aitkin?
A $173,000 home in Aitkin, Minnesota costs approximately $1,446 per month with 20% down at 6.66%. That is $889 principal and interest, $117 property tax, $75 homeowners insurance, $220 utilities and $144 set aside for maintenance.
What is the property tax rate in Aitkin?
Aitkin has an effective property tax rate of 0.812%, based on a median home value of $172,800 and median real estate taxes of $1,403. That is higher than the Aitkin County average of 0.573%.
What is the average home price in Aitkin?
The median owner-occupied home value in Aitkin, Minnesota is $172,800, against $235,100 across Aitkin County.
Is it cheaper to rent or buy in Aitkin?
Median gross rent in Aitkin is $657 a month, against $1,446 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 Aitkin — 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.