Total monthly cost of ownership
Cost to Own a Home in Atwater, Minnesota
A $144,000 home here costs
$1,295per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $55,500 a year.
A standard mortgage calculator would have told you $785. The real number is $510 higher every month, 65% more than the payment most buyers budget for.
Compare Kandiyohi County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Atwater from a five-year rolling sample, and with about 1,217 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Kandiyohi County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Atwater against Kandiyohi County and Minnesota
| Measure | Atwater | Kandiyohi County |
|---|---|---|
| Median home value | $144,300 | $230,500 |
| Median property tax | $1,644 | $2,291 |
| Effective tax rate | 1.139% | 0.994% |
| Median gross rent | $736 | $843 |
| Population | 1,217 | 43,757 |
The weather behind that power bill
Atwater sits in Kandiyohi County, which averages a high of 81.5°F in its hottest month and a low of 2.9°F in its coldest, with 28.67" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 596 cooling and 8,309 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Kandiyohi County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kandiyohi County
Full Kandiyohi County cost breakdown · Every county in Minnesota
Talk to someone who works this market
These are Atwater averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Atwater every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Atwater I already own here and may sell
Common questions
How much does it cost to own a home in Atwater?
A $144,000 home in Atwater, Minnesota costs approximately $1,295 per month with 20% down at 7.24%. That is $785 principal and interest, $137 property tax, $63 homeowners insurance, $190 utilities and $120 set aside for maintenance.
What is the property tax rate in Atwater?
Atwater has an effective property tax rate of 1.139%, based on a median home value of $144,300 and median real estate taxes of $1,644. That is higher than the Kandiyohi County average of 0.994%.
What is the average home price in Atwater?
The median owner-occupied home value in Atwater, Minnesota is $144,300, against $230,500 across Kandiyohi County.
Is it cheaper to rent or buy in Atwater?
Median gross rent in Atwater is $736 a month, against $1,295 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Atwater?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Atwater, Minnesota at today's rate takes a household income of roughly $55,500 a year. That covers the full $1,295 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Atwater, 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.