Total monthly cost of ownership
Cost to Own a Home in Pipestone, Minnesota
A $102,000 home here costs
$961per 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 $41,000 a year.
A standard mortgage calculator would have told you $556. The real number is $405 higher every month, 73% more than the payment most buyers budget for.
Compare Pipestone County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Pipestone from a five-year rolling sample, and with about 4,165 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 Pipestone 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.
Pipestone against Pipestone County and Minnesota
| Measure | Pipestone | Pipestone County |
|---|---|---|
| Median home value | $102,000 | $126,700 |
| Median property tax | $1,021 | $1,154 |
| Effective tax rate | 1.001% | 0.911% |
| Median gross rent | $722 | $731 |
| Population | 4,165 | 9,352 |
The weather behind that power bill
Pipestone sits in Pipestone County, which averages a high of 82.4°F in its hottest month and a low of 4.8°F in its coldest, with 28.59" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 637 cooling and 8,088 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Pipestone County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Pipestone County
Full Pipestone County cost breakdown · Every county in Minnesota
Talk to someone who works this market
These are Pipestone 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 Pipestone every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Pipestone I already own here and may sell
Common questions
How much does it cost to own a home in Pipestone?
A $102,000 home in Pipestone, Minnesota costs approximately $961 per month with 20% down at 7.24%. That is $556 principal and interest, $85 property tax, $44 homeowners insurance, $190 utilities and $85 set aside for maintenance.
What is the property tax rate in Pipestone?
Pipestone has an effective property tax rate of 1.001%, based on a median home value of $102,000 and median real estate taxes of $1,021. That is higher than the Pipestone County average of 0.911%.
What is the average home price in Pipestone?
The median owner-occupied home value in Pipestone, Minnesota is $102,000, against $126,700 across Pipestone County.
Is it cheaper to rent or buy in Pipestone?
Median gross rent in Pipestone is $722 a month, against $961 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 Pipestone?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Pipestone, Minnesota at today's rate takes a household income of roughly $41,000 a year. That covers the full $961 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Pipestone, 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.