Total monthly cost of ownership
Cost to Own a Home in Little Rock, Minnesota
A $34,000 home here costs
$447per 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 $19,000 a year.
A standard mortgage calculator would have told you $185. The real number is $262 higher every month, 141% more than the payment most buyers budget for.
Compare Beltrami County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Little Rock from a five-year rolling sample, and with about 1,075 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 Beltrami 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.
Little Rock against Beltrami County and Minnesota
| Measure | Little Rock | Beltrami County |
|---|---|---|
| Median home value | $34,100 | $222,300 |
| Median property tax | — | $2,214 |
| Effective tax rate | 0.996% | 0.996% |
| Median gross rent | $499 | $991 |
| Population | 1,075 | 46,421 |
The weather behind that power bill
Little Rock sits in Beltrami County, which averages a high of 76.6°F in its hottest month and a low of -2.7°F in its coldest, with 22.77" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 339 cooling and 9,639 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Beltrami County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Beltrami County
Full Beltrami County cost breakdown · Every county in Minnesota
Talk to someone who works this market
These are Little Rock 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 Little Rock every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Little Rock I already own here and may sell
Common questions
How much does it cost to own a home in Little Rock?
A $34,000 home in Little Rock, Minnesota costs approximately $447 per month with 20% down at 7.24%. That is $185 principal and interest, $28 property tax, $15 homeowners insurance, $190 utilities and $28 set aside for maintenance.
What is the property tax rate in Little Rock?
Place-level tax data is not published for Little Rock, so the Beltrami County rate of 0.996% applies here.
What is the average home price in Little Rock?
The median owner-occupied home value in Little Rock, Minnesota is $34,100, against $222,300 across Beltrami County.
Is it cheaper to rent or buy in Little Rock?
Median gross rent in Little Rock is $499 a month, against $447 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Little Rock?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Little Rock, Minnesota at today's rate takes a household income of roughly $19,000 a year. That covers the full $447 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Little Rock, 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.