Total monthly cost of ownership
Cost to Own a Home in Gaylord, Minnesota
A $163,000 home here costs
$1,484per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $63,500 a year.
A standard mortgage calculator would have told you $889. The real number is $596 higher every month, 67% more than the payment most buyers budget for.
Compare Sibley County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Gaylord from a five-year rolling sample, and with about 2,074 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Sibley County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Gaylord against Sibley County and Minnesota
| Measure | Gaylord | Sibley County |
|---|---|---|
| Median home value | $163,300 | $215,000 |
| Median property tax | $2,388 | $2,364 |
| Effective tax rate | 1.462% | 1.100% |
| Median gross rent | $739 | $858 |
| Population | 2,074 | 14,933 |
The weather behind that power bill
Gaylord sits in Sibley County, which averages a high of 80.9°F in its hottest month and a low of 3.4°F in its coldest, with 31.7" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 535 cooling and 8,271 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Sibley County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sibley County
Full Sibley County cost breakdown · Every county in Minnesota
Talk to someone who works this market
These are Gaylord averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Gaylord every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Gaylord I already own here and may sell
Common questions
How much does it cost to own a home in Gaylord?
A $163,000 home in Gaylord, Minnesota costs approximately $1,484 per month with 20% down at 7.24%. That is $889 principal and interest, $199 property tax, $71 homeowners insurance, $190 utilities and $136 set aside for maintenance.
What is the property tax rate in Gaylord?
Gaylord has an effective property tax rate of 1.462%, based on a median home value of $163,300 and median real estate taxes of $2,388. That is higher than the Sibley County average of 1.100%.
What is the average home price in Gaylord?
The median owner-occupied home value in Gaylord, Minnesota is $163,300, against $215,000 across Sibley County.
Is it cheaper to rent or buy in Gaylord?
Median gross rent in Gaylord is $739 a month, against $1,484 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Gaylord?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Gaylord, Minnesota at today's rate takes a household income of roughly $63,500 a year. That covers the full $1,484 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Gaylord, 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.