Total monthly cost of ownership
Cost to Own a Home in Cold Spring, Minnesota
A $242,000 home here costs
$1,982per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,244. The real number is $738 higher every month — 59% 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.
Cold Spring against Stearns County and Minnesota
| Measure | Cold Spring | Stearns County |
|---|---|---|
| Median home value | $242,000 | $256,500 |
| Median property tax | $2,534 | $2,617 |
| Effective tax rate | 1.047% | 1.020% |
| Median gross rent | $1,297 | $1,057 |
| Population | 4,201 | 159,358 |
The weather behind that power bill
Cold Spring 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 Cold Spring?
A $242,000 home in Cold Spring, Minnesota costs approximately $1,982 per month with 20% down at 6.66%. That is $1,244 principal and interest, $211 property tax, $105 homeowners insurance, $220 utilities and $202 set aside for maintenance.
What is the property tax rate in Cold Spring?
Cold Spring has an effective property tax rate of 1.047%, based on a median home value of $242,000 and median real estate taxes of $2,534. That is higher than the Stearns County average of 1.020%.
What is the average home price in Cold Spring?
The median owner-occupied home value in Cold Spring, Minnesota is $242,000, against $256,500 across Stearns County.
Is it cheaper to rent or buy in Cold Spring?
Median gross rent in Cold Spring is $1,297 a month, against $1,982 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 Cold Spring — 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.