Total monthly cost of ownership
Cost to Own a Home in Montrose, Minnesota
A $260,000 home here costs
$2,116per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,337. The real number is $780 higher every month — 58% 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.
Montrose against Wright County and Minnesota
| Measure | Montrose | Wright County |
|---|---|---|
| Median home value | $260,100 | $332,800 |
| Median property tax | $2,757 | $3,319 |
| Effective tax rate | 1.060% | 0.997% |
| Median gross rent | $1,313 | $1,246 |
| Population | 3,840 | 145,270 |
The weather behind that power bill
Montrose sits in Wright County, which averages a high of 80.9°F in its hottest month and a low of 2.7°F in its coldest, with 31.74" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 532 cooling and 8,211 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Wright County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wright County
Full Wright County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Montrose?
A $260,000 home in Montrose, Minnesota costs approximately $2,116 per month with 20% down at 6.66%. That is $1,337 principal and interest, $230 property tax, $113 homeowners insurance, $220 utilities and $217 set aside for maintenance.
What is the property tax rate in Montrose?
Montrose has an effective property tax rate of 1.060%, based on a median home value of $260,100 and median real estate taxes of $2,757. That is higher than the Wright County average of 0.997%.
What is the average home price in Montrose?
The median owner-occupied home value in Montrose, Minnesota is $260,100, against $332,800 across Wright County.
Is it cheaper to rent or buy in Montrose?
Median gross rent in Montrose is $1,313 a month, against $2,116 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 Montrose — 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.