Total monthly cost of ownership
Cost to Own a Home in Minneapolis, Kansas
A $133,000 home here costs
$1,268per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $684. The real number is $584 higher every month — 85% 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.
Minneapolis against Ottawa County and Kansas
| Measure | Minneapolis | Ottawa County |
|---|---|---|
| Median home value | $133,100 | $164,100 |
| Median property tax | $2,302 | $2,651 |
| Effective tax rate | 1.730% | 1.615% |
| Median gross rent | $592 | $738 |
| Population | 2,101 | 5,782 |
The weather behind that power bill
Minneapolis sits in Ottawa County, which averages a high of 93.3°F in its hottest month and a low of 18.2°F in its coldest, with 31.72" of precipitation a year and 43% of it in a single three-month stretch. That climate drives 1,561 cooling and 5,153 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Ottawa County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ottawa County
No other places of this size are published in Ottawa County.
Common questions
How much does it cost to own a home in Minneapolis?
A $133,000 home in Minneapolis, Kansas costs approximately $1,268 per month with 20% down at 6.66%. That is $684 principal and interest, $192 property tax, $78 homeowners insurance, $204 utilities and $111 set aside for maintenance.
What is the property tax rate in Minneapolis?
Minneapolis has an effective property tax rate of 1.730%, based on a median home value of $133,100 and median real estate taxes of $2,302. That is higher than the Ottawa County average of 1.615%.
What is the average home price in Minneapolis?
The median owner-occupied home value in Minneapolis, Kansas is $133,100, against $164,100 across Ottawa County.
Is it cheaper to rent or buy in Minneapolis?
Median gross rent in Minneapolis is $592 a month, against $1,268 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 Minneapolis — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Kansas.
- 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.