Total monthly cost of ownership
Cost to Own a Home in Blooming Prairie, Minnesota
A $156,000 home here costs
$1,418per 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 $61,000 a year.
A standard mortgage calculator would have told you $851. The real number is $568 higher every month, 67% more than the payment most buyers budget for.
Compare Steele County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Blooming Prairie from a five-year rolling sample, and with about 1,977 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 Steele 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.
Blooming Prairie against Steele County and Minnesota
| Measure | Blooming Prairie | Steele County |
|---|---|---|
| Median home value | $155,800 | $234,200 |
| Median property tax | $2,152 | $2,824 |
| Effective tax rate | 1.381% | 1.206% |
| Median gross rent | $680 | $1,006 |
| Population | 1,977 | 37,413 |
Blooming Prairie extends across 2 counties. Figures here use Steele County, where most of its housing sits.
The weather behind that power bill
Blooming Prairie sits in Steele County, which averages a high of 81.7°F in its hottest month and a low of 5.1°F in its coldest, with 35.46" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 640 cooling and 7,955 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Steele County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Steele County
Full Steele County cost breakdown · Every county in Minnesota
Talk to someone who works this market
These are Blooming Prairie 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 Blooming Prairie every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Blooming Prairie I already own here and may sell
Common questions
How much does it cost to own a home in Blooming Prairie?
A $156,000 home in Blooming Prairie, Minnesota costs approximately $1,418 per month with 20% down at 7.24%. That is $851 principal and interest, $180 property tax, $68 homeowners insurance, $190 utilities and $130 set aside for maintenance.
What is the property tax rate in Blooming Prairie?
Blooming Prairie has an effective property tax rate of 1.381%, based on a median home value of $155,800 and median real estate taxes of $2,152. That is higher than the Steele County average of 1.206%.
What is the average home price in Blooming Prairie?
The median owner-occupied home value in Blooming Prairie, Minnesota is $155,800, against $234,200 across Steele County.
Is it cheaper to rent or buy in Blooming Prairie?
Median gross rent in Blooming Prairie is $680 a month, against $1,418 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 Blooming Prairie?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Blooming Prairie, Minnesota at today's rate takes a household income of roughly $61,000 a year. That covers the full $1,418 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Blooming Prairie, 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.