Total monthly cost of ownership
Cost to Own a Home in Pequot Lakes, Minnesota
A $246,000 home here costs
$1,979per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,265. The real number is $714 higher every month — 56% 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.
Pequot Lakes against Crow Wing County and Minnesota
| Measure | Pequot Lakes | Crow Wing County |
|---|---|---|
| Median home value | $246,400 | $274,400 |
| Median property tax | $2,183 | $2,161 |
| Effective tax rate | 0.886% | 0.788% |
| Median gross rent | $792 | $962 |
| Population | 2,236 | 67,113 |
The weather behind that power bill
Pequot Lakes 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 $152 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
Common questions
How much does it cost to own a home in Pequot Lakes?
A $246,000 home in Pequot Lakes, Minnesota costs approximately $1,979 per month with 20% down at 6.66%. That is $1,265 principal and interest, $182 property tax, $107 homeowners insurance, $220 utilities and $205 set aside for maintenance.
What is the property tax rate in Pequot Lakes?
Pequot Lakes has an effective property tax rate of 0.886%, based on a median home value of $246,400 and median real estate taxes of $2,183. That is higher than the Crow Wing County average of 0.788%.
What is the average home price in Pequot Lakes?
The median owner-occupied home value in Pequot Lakes, Minnesota is $246,400, against $274,400 across Crow Wing County.
Is it cheaper to rent or buy in Pequot Lakes?
Median gross rent in Pequot Lakes is $792 a month, against $1,979 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 Pequot Lakes — 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.