Total monthly cost of ownership
Cost to Own a Home in Blue Earth, Minnesota
A $125,000 home here costs
$1,167per 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 $50,000 a year.
A standard mortgage calculator would have told you $681. The real number is $486 higher every month, 71% more than the payment most buyers budget for.
Compare Faribault County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Blue Earth from a five-year rolling sample, and with about 3,170 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 Faribault 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.
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 $122 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
Talk to someone who works this market
These are Blue Earth 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 Blue Earth every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Blue Earth I already own here and may sell
Common questions
How much does it cost to own a home in Blue Earth?
A $125,000 home in Blue Earth, Minnesota costs approximately $1,167 per month with 20% down at 7.24%. That is $681 principal and interest, $137 property tax, $54 homeowners insurance, $190 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 $1,167 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 Blue Earth?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Blue Earth, Minnesota at today's rate takes a household income of roughly $50,000 a year. That covers the full $1,167 monthly cost, not just the mortgage payment.
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.