Total monthly cost of ownership
Cost to Own a Home in Nisswa, Minnesota
A $476,000 home here costs
$3,723per 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 $159,500 a year.
A standard mortgage calculator would have told you $2,595. The real number is $1,128 higher every month, 43% more than the payment most buyers budget for.
Compare Crow Wing County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Nisswa from a five-year rolling sample, and with about 1,744 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 Crow Wing 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.
Nisswa against Crow Wing County and Minnesota
| Measure | Nisswa | Crow Wing County |
|---|---|---|
| Median home value | $475,700 | $274,400 |
| Median property tax | $4,004 | $2,161 |
| Effective tax rate | 0.842% | 0.788% |
| Median gross rent | $820 | $962 |
| Population | 1,744 | 67,113 |
The weather behind that power bill
Nisswa sits in Crow Wing County, which averages a high of 81.5°F in its hottest month and a low of -0.1°F in its coldest, with 24.53" of precipitation a year and 47% of it in a single three-month stretch. That climate drives 413 cooling and 8,695 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Crow Wing County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Crow Wing County
Full Crow Wing County cost breakdown · Every county in Minnesota
Talk to someone who works this market
These are Nisswa 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 Nisswa every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Nisswa I already own here and may sell
Common questions
How much does it cost to own a home in Nisswa?
A $476,000 home in Nisswa, Minnesota costs approximately $3,723 per month with 20% down at 7.24%. That is $2,595 principal and interest, $334 property tax, $207 homeowners insurance, $190 utilities and $397 set aside for maintenance.
What is the property tax rate in Nisswa?
Nisswa has an effective property tax rate of 0.842%, based on a median home value of $475,700 and median real estate taxes of $4,004. That is higher than the Crow Wing County average of 0.788%.
What is the average home price in Nisswa?
The median owner-occupied home value in Nisswa, Minnesota is $475,700, against $274,400 across Crow Wing County.
Is it cheaper to rent or buy in Nisswa?
Median gross rent in Nisswa is $820 a month, against $3,723 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 Nisswa?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Nisswa, Minnesota at today's rate takes a household income of roughly $159,500 a year. That covers the full $3,723 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Nisswa, 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.