Total monthly cost of ownership
Cost to Own a Home in Long Prairie, Minnesota
A $130,000 home here costs
$1,203per 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 $51,500 a year.
A standard mortgage calculator would have told you $709. The real number is $495 higher every month, 70% more than the payment most buyers budget for.
Compare Todd County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Long Prairie from a five-year rolling sample, and with about 3,683 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 Todd 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.
Long Prairie against Todd County and Minnesota
| Measure | Long Prairie | Todd County |
|---|---|---|
| Median home value | $130,100 | $188,400 |
| Median property tax | $1,674 | $1,874 |
| Effective tax rate | 1.287% | 0.995% |
| Median gross rent | $942 | $850 |
| Population | 3,683 | 25,402 |
The weather behind that power bill
Long Prairie sits in Todd County, which averages a high of 78.7°F in its hottest month and a low of -0.9°F in its coldest, with 31.03" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 313 cooling and 9,333 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Todd County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Todd County
Talk to someone who works this market
These are Long Prairie 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 Long Prairie every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Long Prairie I already own here and may sell
Common questions
How much does it cost to own a home in Long Prairie?
A $130,000 home in Long Prairie, Minnesota costs approximately $1,203 per month with 20% down at 7.24%. That is $709 principal and interest, $139 property tax, $56 homeowners insurance, $190 utilities and $108 set aside for maintenance.
What is the property tax rate in Long Prairie?
Long Prairie has an effective property tax rate of 1.287%, based on a median home value of $130,100 and median real estate taxes of $1,674. That is higher than the Todd County average of 0.995%.
What is the average home price in Long Prairie?
The median owner-occupied home value in Long Prairie, Minnesota is $130,100, against $188,400 across Todd County.
Is it cheaper to rent or buy in Long Prairie?
Median gross rent in Long Prairie is $942 a month, against $1,203 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Long Prairie?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Long Prairie, Minnesota at today's rate takes a household income of roughly $51,500 a year. That covers the full $1,203 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Long 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.