Total monthly cost of ownership
Cost to Own a Home in Janesville, Minnesota
A $194,000 home here costs
$1,673per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $997. The real number is $676 higher every month — 68% 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.
Janesville against Waseca County and Minnesota
| Measure | Janesville | Waseca County |
|---|---|---|
| Median home value | $194,400 | $213,200 |
| Median property tax | $2,521 | $2,537 |
| Effective tax rate | 1.297% | 1.190% |
| Median gross rent | $839 | $819 |
| Population | 2,449 | 18,958 |
The weather behind that power bill
Janesville sits in Waseca County, which averages a high of 81.3°F in its hottest month and a low of 4.8°F in its coldest, with 37.9" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 625 cooling and 8,010 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Waseca County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Waseca County
Full Waseca County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Janesville?
A $194,000 home in Janesville, Minnesota costs approximately $1,673 per month with 20% down at 6.66%. That is $997 principal and interest, $210 property tax, $84 homeowners insurance, $220 utilities and $162 set aside for maintenance.
What is the property tax rate in Janesville?
Janesville has an effective property tax rate of 1.297%, based on a median home value of $194,400 and median real estate taxes of $2,521. That is higher than the Waseca County average of 1.190%.
What is the average home price in Janesville?
The median owner-occupied home value in Janesville, Minnesota is $194,400, against $213,200 across Waseca County.
Is it cheaper to rent or buy in Janesville?
Median gross rent in Janesville is $839 a month, against $1,673 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 Janesville — 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.