Total monthly cost of ownership
Cost to Own a Home in Blue Earth, Minnesota
A $125,000 home here costs
$1,158per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $643. The real number is $516 higher every month — 80% 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.
Blue Earth against Faribault County and Minnesota
| Measure | Blue Earth | Faribault County |
|---|---|---|
| Median home value | $125,200 | $120,200 |
| Median property tax | $1,647 | $1,263 |
| Effective tax rate | 1.315% | 1.051% |
| Median gross rent | $916 | $837 |
| Population | 3,170 | 13,909 |
The weather behind that power bill
Blue Earth sits in Faribault County, which averages a high of 82.2°F in its hottest month and a low of 4.6°F in its coldest, with 34.51" of precipitation a year and 43% of it in a single three-month stretch. That climate drives 668 cooling and 7,753 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Faribault County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Faribault County
Full Faribault County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Blue Earth?
A $125,000 home in Blue Earth, Minnesota costs approximately $1,158 per month with 20% down at 6.66%. That is $643 principal and interest, $137 property tax, $54 homeowners insurance, $220 utilities and $104 set aside for maintenance.
What is the property tax rate in Blue Earth?
Blue Earth has an effective property tax rate of 1.315%, based on a median home value of $125,200 and median real estate taxes of $1,647. That is higher than the Faribault County average of 1.051%.
What is the average home price in Blue Earth?
The median owner-occupied home value in Blue Earth, Minnesota is $125,200, against $120,200 across Faribault County.
Is it cheaper to rent or buy in Blue Earth?
Median gross rent in Blue Earth is $916 a month, against $1,158 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 Blue Earth — 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.