Total monthly cost of ownership
Cost to Own a Home in Clearwater, Minnesota
A $248,000 home here costs
$2,035per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,275. The real number is $760 higher every month — 60% 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.
Clearwater against Stearns County and Minnesota
| Measure | Clearwater | Stearns County |
|---|---|---|
| Median home value | $248,100 | $256,500 |
| Median property tax | $2,702 | $2,617 |
| Effective tax rate | 1.089% | 1.020% |
| Median gross rent | $1,074 | $1,057 |
| Population | 1,904 | 159,358 |
Clearwater extends across 2 counties. Figures here use Stearns County, where most of its housing sits.
The weather behind that power bill
Clearwater sits in Stearns County, which averages a high of 80.9°F in its hottest month and a low of 3.8°F in its coldest, with 31.04" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 506 cooling and 8,305 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Stearns County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Stearns County
Full Stearns County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Clearwater?
A $248,000 home in Clearwater, Minnesota costs approximately $2,035 per month with 20% down at 6.66%. That is $1,275 principal and interest, $225 property tax, $108 homeowners insurance, $220 utilities and $207 set aside for maintenance.
What is the property tax rate in Clearwater?
Clearwater has an effective property tax rate of 1.089%, based on a median home value of $248,100 and median real estate taxes of $2,702. That is higher than the Stearns County average of 1.020%.
What is the average home price in Clearwater?
The median owner-occupied home value in Clearwater, Minnesota is $248,100, against $256,500 across Stearns County.
Is it cheaper to rent or buy in Clearwater?
Median gross rent in Clearwater is $1,074 a month, against $2,035 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 Clearwater — 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.