Total monthly cost of ownership
Cost to Own a Home in Fosston, Minnesota
A $127,000 home here costs
$1,169per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $653. The real number is $516 higher every month — 79% 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.
Fosston against Polk County and Minnesota
| Measure | Fosston | Polk County |
|---|---|---|
| Median home value | $126,500 | $211,100 |
| Median property tax | $1,614 | $2,109 |
| Effective tax rate | 1.276% | 0.999% |
| Median gross rent | $846 | $843 |
| Population | 1,283 | 30,905 |
The weather behind that power bill
Fosston sits in Polk County, which averages a high of 78.9°F in its hottest month and a low of -2.9°F in its coldest, with 24.33" of precipitation a year and 48% of it in a single three-month stretch. That climate drives 386 cooling and 9,524 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Polk County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Polk County
Common questions
How much does it cost to own a home in Fosston?
A $127,000 home in Fosston, Minnesota costs approximately $1,169 per month with 20% down at 6.66%. That is $653 principal and interest, $135 property tax, $55 homeowners insurance, $220 utilities and $106 set aside for maintenance.
What is the property tax rate in Fosston?
Fosston has an effective property tax rate of 1.276%, based on a median home value of $126,500 and median real estate taxes of $1,614. That is higher than the Polk County average of 0.999%.
What is the average home price in Fosston?
The median owner-occupied home value in Fosston, Minnesota is $126,500, against $211,100 across Polk County.
Is it cheaper to rent or buy in Fosston?
Median gross rent in Fosston is $846 a month, against $1,169 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 Fosston — 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.