Total monthly cost of ownership
Cost to Own a Home in Little Falls, Minnesota
A $198,000 home here costs
$1,683per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,018. The real number is $665 higher every month — 65% 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.
Little Falls against Morrison County and Minnesota
| Measure | Little Falls | Morrison County |
|---|---|---|
| Median home value | $198,100 | $237,000 |
| Median property tax | $2,329 | $2,154 |
| Effective tax rate | 1.176% | 0.909% |
| Median gross rent | $740 | $782 |
| Population | 9,094 | 34,131 |
The weather behind that power bill
Little Falls sits in Morrison County, which averages a high of 84.7°F in its hottest month and a low of 3.5°F in its coldest, with 27.18" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 657 cooling and 7,950 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Morrison County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Morrison County
Full Morrison County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Little Falls?
A $198,000 home in Little Falls, Minnesota costs approximately $1,683 per month with 20% down at 6.66%. That is $1,018 principal and interest, $194 property tax, $86 homeowners insurance, $220 utilities and $165 set aside for maintenance.
What is the property tax rate in Little Falls?
Little Falls has an effective property tax rate of 1.176%, based on a median home value of $198,100 and median real estate taxes of $2,329. That is higher than the Morrison County average of 0.909%.
What is the average home price in Little Falls?
The median owner-occupied home value in Little Falls, Minnesota is $198,100, against $237,000 across Morrison County.
Is it cheaper to rent or buy in Little Falls?
Median gross rent in Little Falls is $740 a month, against $1,683 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 Little Falls — 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.