Total monthly cost of ownership
Cost to Own a Home in Hawley, Minnesota
A $266,000 home here costs
$2,228per 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 $95,500 a year.
A standard mortgage calculator would have told you $1,450. The real number is $778 higher every month, 54% more than the payment most buyers budget for.
Compare Clay County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Hawley from a five-year rolling sample, and with about 2,086 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 Clay 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.
Hawley against Clay County and Minnesota
| Measure | Hawley | Clay County |
|---|---|---|
| Median home value | $265,500 | $256,000 |
| Median property tax | $3,000 | $2,854 |
| Effective tax rate | 1.130% | 1.115% |
| Median gross rent | $742 | $1,000 |
| Population | 2,086 | 65,628 |
The weather behind that power bill
Hawley sits in Clay County, which averages a high of 82.1°F in its hottest month and a low of 0.2°F in its coldest, with 23.95" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 542 cooling and 8,806 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Clay County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Clay County
Talk to someone who works this market
These are Hawley 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 Hawley every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Hawley I already own here and may sell
Common questions
How much does it cost to own a home in Hawley?
A $266,000 home in Hawley, Minnesota costs approximately $2,228 per month with 20% down at 7.24%. That is $1,450 principal and interest, $250 property tax, $115 homeowners insurance, $190 utilities and $222 set aside for maintenance.
What is the property tax rate in Hawley?
Hawley has an effective property tax rate of 1.130%, based on a median home value of $265,500 and median real estate taxes of $3,000. That is higher than the Clay County average of 1.115%.
What is the average home price in Hawley?
The median owner-occupied home value in Hawley, Minnesota is $265,500, against $256,000 across Clay County.
Is it cheaper to rent or buy in Hawley?
Median gross rent in Hawley is $742 a month, against $2,228 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 Hawley?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Hawley, Minnesota at today's rate takes a household income of roughly $95,500 a year. That covers the full $2,228 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Hawley, 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.