Total monthly cost of ownership
Cost to Own a Home in Madelia, Minnesota
A $158,000 home here costs
$1,373per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $812. The real number is $561 higher every month — 69% 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.
Madelia against Watonwan County and Minnesota
| Measure | Madelia | Watonwan County |
|---|---|---|
| Median home value | $158,300 | $151,600 |
| Median property tax | $1,687 | $1,557 |
| Effective tax rate | 1.066% | 1.027% |
| Median gross rent | $795 | $807 |
| Population | 2,380 | 11,169 |
The weather behind that power bill
Madelia sits in Watonwan County, which averages a high of 82.8°F in its hottest month and a low of 5.2°F in its coldest, with 33.12" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 686 cooling and 7,788 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Watonwan County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Watonwan County
Full Watonwan County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Madelia?
A $158,000 home in Madelia, Minnesota costs approximately $1,373 per month with 20% down at 6.66%. That is $812 principal and interest, $140 property tax, $69 homeowners insurance, $220 utilities and $132 set aside for maintenance.
What is the property tax rate in Madelia?
Madelia has an effective property tax rate of 1.066%, based on a median home value of $158,300 and median real estate taxes of $1,687. That is higher than the Watonwan County average of 1.027%.
What is the average home price in Madelia?
The median owner-occupied home value in Madelia, Minnesota is $158,300, against $151,600 across Watonwan County.
Is it cheaper to rent or buy in Madelia?
Median gross rent in Madelia is $795 a month, against $1,373 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 Madelia — 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.