Total monthly cost of ownership
Cost to Own a Home in Eagle Lake, Minnesota
A $250,000 home here costs
$2,017per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,285. The real number is $731 higher every month — 57% 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.
Eagle Lake against Blue Earth County and Minnesota
| Measure | Eagle Lake | Blue Earth County |
|---|---|---|
| Median home value | $249,600 | $252,800 |
| Median property tax | $2,326 | $2,487 |
| Effective tax rate | 0.932% | 0.984% |
| Median gross rent | $1,405 | $1,076 |
| Population | 3,268 | 69,386 |
The weather behind that power bill
Eagle Lake sits in Blue Earth County, which averages a high of 81.9°F in its hottest month and a low of 5.7°F in its coldest, with 33.88" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 632 cooling and 7,789 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Blue Earth County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Blue Earth County
Full Blue Earth County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Eagle Lake?
A $250,000 home in Eagle Lake, Minnesota costs approximately $2,017 per month with 20% down at 6.66%. That is $1,285 principal and interest, $194 property tax, $109 homeowners insurance, $220 utilities and $208 set aside for maintenance.
What is the property tax rate in Eagle Lake?
Eagle Lake has an effective property tax rate of 0.932%, based on a median home value of $249,600 and median real estate taxes of $2,326. That is lower than the Blue Earth County average of 0.984%.
What is the average home price in Eagle Lake?
The median owner-occupied home value in Eagle Lake, Minnesota is $249,600, against $252,800 across Blue Earth County.
Is it cheaper to rent or buy in Eagle Lake?
Median gross rent in Eagle Lake is $1,405 a month, against $2,017 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 Eagle Lake — 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.