Total monthly cost of ownership
Cost to Own a Home in Pine City, Minnesota
A $182,000 home here costs
$1,586per 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 $68,000 a year.
A standard mortgage calculator would have told you $992. The real number is $593 higher every month, 60% more than the payment most buyers budget for.
Compare Pine County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Pine City from a five-year rolling sample, and with about 3,339 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 Pine 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.
Pine City against Pine County and Minnesota
| Measure | Pine City | Pine County |
|---|---|---|
| Median home value | $181,800 | $225,600 |
| Median property tax | $2,064 | $1,973 |
| Effective tax rate | 1.135% | 0.875% |
| Median gross rent | $676 | $873 |
| Population | 3,339 | 29,411 |
The weather behind that power bill
Pine City sits in Pine County, which averages a high of 78.8°F in its hottest month and a low of 2.2°F in its coldest, with 33.34" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 266 cooling and 8,836 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Pine County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Pine County
Talk to someone who works this market
These are Pine City 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 Pine City every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Pine City I already own here and may sell
Common questions
How much does it cost to own a home in Pine City?
A $182,000 home in Pine City, Minnesota costs approximately $1,586 per month with 20% down at 7.24%. That is $992 principal and interest, $172 property tax, $79 homeowners insurance, $190 utilities and $152 set aside for maintenance.
What is the property tax rate in Pine City?
Pine City has an effective property tax rate of 1.135%, based on a median home value of $181,800 and median real estate taxes of $2,064. That is higher than the Pine County average of 0.875%.
What is the average home price in Pine City?
The median owner-occupied home value in Pine City, Minnesota is $181,800, against $225,600 across Pine County.
Is it cheaper to rent or buy in Pine City?
Median gross rent in Pine City is $676 a month, against $1,586 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 Pine City?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Pine City, Minnesota at today's rate takes a household income of roughly $68,000 a year. That covers the full $1,586 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Pine City, 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.