Total monthly cost of ownership
Cost to Own a Home in Cohasset, Minnesota
A $316,000 home here costs
$2,551per 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 $109,500 a year.
A standard mortgage calculator would have told you $1,723. The real number is $828 higher every month, 48% more than the payment most buyers budget for.
Compare Itasca County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Cohasset from a five-year rolling sample, and with about 2,700 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 Itasca 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.
Cohasset against Itasca County and Minnesota
| Measure | Cohasset | Itasca County |
|---|---|---|
| Median home value | $315,700 | $212,000 |
| Median property tax | $2,845 | $1,851 |
| Effective tax rate | 0.901% | 0.873% |
| Median gross rent | $917 | $944 |
| Population | 2,700 | 45,141 |
The weather behind that power bill
Cohasset sits in Itasca County, which averages a high of 76.8°F in its hottest month and a low of -4.7°F in its coldest, with 31.12" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 231 cooling and 9,879 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Itasca County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Itasca County
Full Itasca County cost breakdown · Every county in Minnesota
Talk to someone who works this market
These are Cohasset 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 Cohasset every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Cohasset I already own here and may sell
Common questions
How much does it cost to own a home in Cohasset?
A $316,000 home in Cohasset, Minnesota costs approximately $2,551 per month with 20% down at 7.24%. That is $1,723 principal and interest, $237 property tax, $137 homeowners insurance, $190 utilities and $263 set aside for maintenance.
What is the property tax rate in Cohasset?
Cohasset has an effective property tax rate of 0.901%, based on a median home value of $315,700 and median real estate taxes of $2,845. That is higher than the Itasca County average of 0.873%.
What is the average home price in Cohasset?
The median owner-occupied home value in Cohasset, Minnesota is $315,700, against $212,000 across Itasca County.
Is it cheaper to rent or buy in Cohasset?
Median gross rent in Cohasset is $917 a month, against $2,551 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 Cohasset?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Cohasset, Minnesota at today's rate takes a household income of roughly $109,500 a year. That covers the full $2,551 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cohasset, 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.