Total monthly cost of ownership
Cost to Own a Home in Credit River, Minnesota
A $578,000 home here costs
$4,354per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,972. The real number is $1,383 higher every month — 47% 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.
Credit River against Scott County and Minnesota
| Measure | Credit River | Scott County |
|---|---|---|
| Median home value | $577,600 | $393,500 |
| Median property tax | $5,154 | $4,195 |
| Effective tax rate | 0.892% | 1.066% |
| Median gross rent | $890 | $1,485 |
| Population | 5,531 | 152,957 |
The weather behind that power bill
Credit River sits in Scott County, which averages a high of 80.7°F in its hottest month and a low of 5.3°F in its coldest, with 33.32" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 532 cooling and 8,057 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Scott County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Scott County
Full Scott County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Credit River?
A $578,000 home in Credit River, Minnesota costs approximately $4,354 per month with 20% down at 6.66%. That is $2,972 principal and interest, $430 property tax, $251 homeowners insurance, $220 utilities and $482 set aside for maintenance.
What is the property tax rate in Credit River?
Credit River has an effective property tax rate of 0.892%, based on a median home value of $577,600 and median real estate taxes of $5,154. That is lower than the Scott County average of 1.066%.
What is the average home price in Credit River?
The median owner-occupied home value in Credit River, Minnesota is $577,600, against $393,500 across Scott County.
Is it cheaper to rent or buy in Credit River?
Median gross rent in Credit River is $890 a month, against $4,354 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 Credit River — 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.