Total monthly cost of ownership
Cost to Own a Home in Apple Valley, Minnesota
A $354,000 home here costs
$2,778per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,820. The real number is $958 higher every month — 53% 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.
Apple Valley against Dakota County and Minnesota
| Measure | Apple Valley | Dakota County |
|---|---|---|
| Median home value | $354,200 | $362,100 |
| Median property tax | $3,476 | $3,610 |
| Effective tax rate | 0.981% | 0.997% |
| Median gross rent | $1,678 | $1,497 |
| Population | 55,696 | 442,204 |
The weather behind that power bill
Apple Valley sits in Dakota County, which averages a high of 81.3°F in its hottest month and a low of 3.3°F in its coldest, with 34.12" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 551 cooling and 8,121 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Dakota County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Dakota County
Full Dakota County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Apple Valley?
A $354,000 home in Apple Valley, Minnesota costs approximately $2,778 per month with 20% down at 6.66%. That is $1,820 principal and interest, $289 property tax, $154 homeowners insurance, $220 utilities and $295 set aside for maintenance.
What is the property tax rate in Apple Valley?
Apple Valley has an effective property tax rate of 0.981%, based on a median home value of $354,200 and median real estate taxes of $3,476. That is lower than the Dakota County average of 0.997%.
What is the average home price in Apple Valley?
The median owner-occupied home value in Apple Valley, Minnesota is $354,200, against $362,100 across Dakota County.
Is it cheaper to rent or buy in Apple Valley?
Median gross rent in Apple Valley is $1,678 a month, against $2,778 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 Apple Valley — 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.