Total monthly cost of ownership
Cost to Own a Home in Chatfield, Minnesota
A $216,000 home here costs
$1,857per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,110. The real number is $747 higher every month — 67% 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.
Chatfield against Olmsted County and Minnesota
| Measure | Chatfield | Olmsted County |
|---|---|---|
| Median home value | $216,000 | $304,500 |
| Median property tax | $3,029 | $3,314 |
| Effective tax rate | 1.402% | 1.088% |
| Median gross rent | $645 | $1,283 |
| Population | 2,693 | 163,425 |
Chatfield extends across 2 counties. Figures here use Olmsted County, where most of its housing sits.
The weather behind that power bill
Chatfield sits in Olmsted County, which averages a high of 80.3°F in its hottest month and a low of 7.0°F in its coldest, with 34.67" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 533 cooling and 7,856 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Olmsted County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Olmsted County
Full Olmsted County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Chatfield?
A $216,000 home in Chatfield, Minnesota costs approximately $1,857 per month with 20% down at 6.66%. That is $1,110 principal and interest, $252 property tax, $94 homeowners insurance, $220 utilities and $180 set aside for maintenance.
What is the property tax rate in Chatfield?
Chatfield has an effective property tax rate of 1.402%, based on a median home value of $216,000 and median real estate taxes of $3,029. That is higher than the Olmsted County average of 1.088%.
What is the average home price in Chatfield?
The median owner-occupied home value in Chatfield, Minnesota is $216,000, against $304,500 across Olmsted County.
Is it cheaper to rent or buy in Chatfield?
Median gross rent in Chatfield is $645 a month, against $1,857 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 Chatfield — 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.