Total monthly cost of ownership
Cost to Own a Home in Shafer, Minnesota
A $226,000 home here costs
$1,882per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,162. The real number is $720 higher every month — 62% 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.
Shafer against Chisago County and Minnesota
| Measure | Shafer | Chisago County |
|---|---|---|
| Median home value | $225,700 | $326,600 |
| Median property tax | $2,553 | $3,668 |
| Effective tax rate | 1.131% | 1.123% |
| Median gross rent | $954 | $1,112 |
| Population | 1,151 | 57,434 |
The weather behind that power bill
Shafer sits in Chisago County, which averages a high of 82.1°F in its hottest month and a low of -0.1°F in its coldest, with 32.39" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 446 cooling and 8,608 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Chisago County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Chisago County
Full Chisago County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Shafer?
A $226,000 home in Shafer, Minnesota costs approximately $1,882 per month with 20% down at 6.66%. That is $1,162 principal and interest, $213 property tax, $98 homeowners insurance, $220 utilities and $188 set aside for maintenance.
What is the property tax rate in Shafer?
Shafer has an effective property tax rate of 1.131%, based on a median home value of $225,700 and median real estate taxes of $2,553. That is in line with the Chisago County average of 1.123%.
What is the average home price in Shafer?
The median owner-occupied home value in Shafer, Minnesota is $225,700, against $326,600 across Chisago County.
Is it cheaper to rent or buy in Shafer?
Median gross rent in Shafer is $954 a month, against $1,882 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 Shafer — 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.