Total monthly cost of ownership
Cost to Own a Home in Lester Prairie, Minnesota
A $217,000 home here costs
$1,853per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,116. The real number is $738 higher every month — 66% 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.
Lester Prairie against McLeod County and Minnesota
| Measure | Lester Prairie | McLeod County |
|---|---|---|
| Median home value | $217,000 | $233,400 |
| Median property tax | $2,908 | $2,708 |
| Effective tax rate | 1.340% | 1.160% |
| Median gross rent | $735 | $906 |
| Population | 1,848 | 36,771 |
The weather behind that power bill
Lester Prairie sits in McLeod 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 $152 electricity line above.
See the full climate breakdown for McLeod County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in McLeod County
Full McLeod County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Lester Prairie?
A $217,000 home in Lester Prairie, Minnesota costs approximately $1,853 per month with 20% down at 6.66%. That is $1,116 principal and interest, $242 property tax, $94 homeowners insurance, $220 utilities and $181 set aside for maintenance.
What is the property tax rate in Lester Prairie?
Lester Prairie has an effective property tax rate of 1.340%, based on a median home value of $217,000 and median real estate taxes of $2,908. That is higher than the McLeod County average of 1.160%.
What is the average home price in Lester Prairie?
The median owner-occupied home value in Lester Prairie, Minnesota is $217,000, against $233,400 across McLeod County.
Is it cheaper to rent or buy in Lester Prairie?
Median gross rent in Lester Prairie is $735 a month, against $1,853 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 Lester Prairie — 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.