Total monthly cost of ownership
Cost to Own a Home in Foley, Minnesota
A $193,000 home here costs
$1,674per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $992. The real number is $682 higher every month — 69% 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.
Foley against Benton County and Minnesota
| Measure | Foley | Benton County |
|---|---|---|
| Median home value | $192,600 | $247,100 |
| Median property tax | $2,598 | $2,532 |
| Effective tax rate | 1.349% | 1.025% |
| Median gross rent | $1,006 | $917 |
| Population | 2,685 | 41,458 |
The weather behind that power bill
Foley sits in Benton County, which averages a high of 81.6°F in its hottest month and a low of 2.9°F in its coldest, with 28.49" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 468 cooling and 8,490 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Benton County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Benton County
Full Benton County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Foley?
A $193,000 home in Foley, Minnesota costs approximately $1,674 per month with 20% down at 6.66%. That is $992 principal and interest, $217 property tax, $84 homeowners insurance, $220 utilities and $161 set aside for maintenance.
What is the property tax rate in Foley?
Foley has an effective property tax rate of 1.349%, based on a median home value of $192,600 and median real estate taxes of $2,598. That is higher than the Benton County average of 1.025%.
What is the average home price in Foley?
The median owner-occupied home value in Foley, Minnesota is $192,600, against $247,100 across Benton County.
Is it cheaper to rent or buy in Foley?
Median gross rent in Foley is $1,006 a month, against $1,674 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 Foley — 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.