Total monthly cost of ownership
Cost to Own a Home in Cologne, Minnesota
A $357,000 home here costs
$2,830per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,835. The real number is $994 higher every month — 54% 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.
Cologne against Carver County and Minnesota
| Measure | Cologne | Carver County |
|---|---|---|
| Median home value | $356,600 | $426,900 |
| Median property tax | $3,855 | $4,380 |
| Effective tax rate | 1.081% | 1.026% |
| Median gross rent | — | $1,444 |
| Population | 2,146 | 108,622 |
The weather behind that power bill
Cologne sits in Carver County, which averages a high of 83.7°F in its hottest month and a low of 7.7°F in its coldest, with 30.64" of precipitation a year and 45% of it in a single three-month stretch. That climate drives 788 cooling and 7,430 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Carver County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Carver County
Full Carver County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Cologne?
A $357,000 home in Cologne, Minnesota costs approximately $2,830 per month with 20% down at 6.66%. That is $1,835 principal and interest, $322 property tax, $155 homeowners insurance, $220 utilities and $298 set aside for maintenance.
What is the property tax rate in Cologne?
Cologne has an effective property tax rate of 1.081%, based on a median home value of $356,600 and median real estate taxes of $3,855. That is higher than the Carver County average of 1.026%.
What is the average home price in Cologne?
The median owner-occupied home value in Cologne, Minnesota is $356,600, against $426,900 across Carver County.
Is it cheaper to rent or buy in Cologne?
Rent data is not published for Cologne at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cologne — 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.