Total monthly cost of ownership
Cost to Own a Home in Glenwood, Minnesota
A $181,000 home here costs
$1,531per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $931. The real number is $600 higher every month — 64% 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.
Glenwood against Pope County and Minnesota
| Measure | Glenwood | Pope County |
|---|---|---|
| Median home value | $181,000 | $242,800 |
| Median property tax | $1,805 | $1,915 |
| Effective tax rate | 0.997% | 0.789% |
| Median gross rent | $830 | $851 |
| Population | 2,648 | 11,363 |
The weather behind that power bill
Glenwood sits in Pope County, which averages a high of 82.9°F in its hottest month and a low of 1.5°F in its coldest, with 26.44" of precipitation a year and 46% of it in a single three-month stretch. That climate drives 491 cooling and 8,360 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Pope County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Pope County
Common questions
How much does it cost to own a home in Glenwood?
A $181,000 home in Glenwood, Minnesota costs approximately $1,531 per month with 20% down at 6.66%. That is $931 principal and interest, $150 property tax, $79 homeowners insurance, $220 utilities and $151 set aside for maintenance.
What is the property tax rate in Glenwood?
Glenwood has an effective property tax rate of 0.997%, based on a median home value of $181,000 and median real estate taxes of $1,805. That is higher than the Pope County average of 0.789%.
What is the average home price in Glenwood?
The median owner-occupied home value in Glenwood, Minnesota is $181,000, against $242,800 across Pope County.
Is it cheaper to rent or buy in Glenwood?
Median gross rent in Glenwood is $830 a month, against $1,531 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 Glenwood — 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.