Total monthly cost of ownership
Cost to Own a Home in Howard Lake, Minnesota
A $239,000 home here costs
$2,004per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,229. The real number is $775 higher every month — 63% 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.
Howard Lake against Wright County and Minnesota
| Measure | Howard Lake | Wright County |
|---|---|---|
| Median home value | $239,100 | $332,800 |
| Median property tax | $3,027 | $3,319 |
| Effective tax rate | 1.266% | 0.997% |
| Median gross rent | $930 | $1,246 |
| Population | 1,864 | 145,270 |
The weather behind that power bill
Howard Lake sits in Wright County, which averages a high of 80.9°F in its hottest month and a low of 2.7°F in its coldest, with 31.74" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 532 cooling and 8,211 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Wright County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wright County
Full Wright County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Howard Lake?
A $239,000 home in Howard Lake, Minnesota costs approximately $2,004 per month with 20% down at 6.66%. That is $1,229 principal and interest, $252 property tax, $104 homeowners insurance, $220 utilities and $199 set aside for maintenance.
What is the property tax rate in Howard Lake?
Howard Lake has an effective property tax rate of 1.266%, based on a median home value of $239,100 and median real estate taxes of $3,027. That is higher than the Wright County average of 0.997%.
What is the average home price in Howard Lake?
The median owner-occupied home value in Howard Lake, Minnesota is $239,100, against $332,800 across Wright County.
Is it cheaper to rent or buy in Howard Lake?
Median gross rent in Howard Lake is $930 a month, against $2,004 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 Howard Lake — 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.