Total monthly cost of ownership
Cost to Own a Home in Minneota, Minnesota
A $158,000 home here costs
$1,377per 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 $565 higher every month — 70% 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.
Minneota against Lyon County and Minnesota
| Measure | Minneota | Lyon County |
|---|---|---|
| Median home value | $158,100 | $193,100 |
| Median property tax | $1,731 | $2,021 |
| Effective tax rate | 1.095% | 1.047% |
| Median gross rent | $629 | $742 |
| Population | 1,531 | 25,498 |
The weather behind that power bill
Minneota sits in Lyon County, which averages a high of 84.7°F in its hottest month and a low of 3.6°F in its coldest, with 28.9" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 722 cooling and 7,950 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Lyon County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lyon County
Common questions
How much does it cost to own a home in Minneota?
A $158,000 home in Minneota, Minnesota costs approximately $1,377 per month with 20% down at 6.66%. That is $812 principal and interest, $144 property tax, $69 homeowners insurance, $220 utilities and $132 set aside for maintenance.
What is the property tax rate in Minneota?
Minneota has an effective property tax rate of 1.095%, based on a median home value of $158,100 and median real estate taxes of $1,731. That is higher than the Lyon County average of 1.047%.
What is the average home price in Minneota?
The median owner-occupied home value in Minneota, Minnesota is $158,100, against $193,100 across Lyon County.
Is it cheaper to rent or buy in Minneota?
Median gross rent in Minneota is $629 a month, against $1,377 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 Minneota — 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.