Total monthly cost of ownership
Cost to Own a Home in Coleraine, Minnesota
A $180,000 home here costs
$1,520per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $925. The real number is $595 higher every month — 64% 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.
Coleraine against Itasca County and Minnesota
| Measure | Coleraine | Itasca County |
|---|---|---|
| Median home value | $179,900 | $212,000 |
| Median property tax | $1,752 | $1,851 |
| Effective tax rate | 0.974% | 0.873% |
| Median gross rent | $923 | $944 |
| Population | 1,888 | 45,141 |
The weather behind that power bill
Coleraine 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 $152 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
Common questions
How much does it cost to own a home in Coleraine?
A $180,000 home in Coleraine, Minnesota costs approximately $1,520 per month with 20% down at 6.66%. That is $925 principal and interest, $146 property tax, $78 homeowners insurance, $220 utilities and $150 set aside for maintenance.
What is the property tax rate in Coleraine?
Coleraine has an effective property tax rate of 0.974%, based on a median home value of $179,900 and median real estate taxes of $1,752. That is higher than the Itasca County average of 0.873%.
What is the average home price in Coleraine?
The median owner-occupied home value in Coleraine, Minnesota is $179,900, against $212,000 across Itasca County.
Is it cheaper to rent or buy in Coleraine?
Median gross rent in Coleraine is $923 a month, against $1,520 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 Coleraine — 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.