Total monthly cost of ownership
Cost to Own a Home in South St. Paul, Minnesota
A $267,000 home here costs
$2,260per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $97,000 a year.
A standard mortgage calculator would have told you $1,479. The real number is $781 higher every month, 53% more than the payment most buyers budget for.
Compare Dakota County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
South St. Paul against Dakota County and Minnesota
| Measure | South St. Paul | Dakota County |
|---|---|---|
| Median home value | $266,800 | $362,100 |
| Median property tax | $3,000 | $3,610 |
| Effective tax rate | 1.124% | 0.997% |
| Median gross rent | $1,128 | $1,497 |
| Population | 20,633 | 442,204 |
The weather behind that power bill
South St. Paul sits in Dakota County, which averages a high of 81.3°F in its hottest month and a low of 3.3°F in its coldest, with 34.12" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 551 cooling and 8,121 heating degree days, which is what sets the $124 electricity line above.
See the full climate breakdown for Dakota County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Dakota County
Full Dakota County cost breakdown · Every county in Minnesota
Talk to someone who works this market
These are South St. Paul 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 South St. Paul every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in South St. Paul I already own here and may sell
Common questions
How much does it cost to own a home in South St. Paul?
A $267,000 home in South St. Paul, Minnesota costs approximately $2,260 per month with 20% down at 7.4%. That is $1,479 principal and interest, $250 property tax, $116 homeowners insurance, $192 utilities and $223 set aside for maintenance.
What is the property tax rate in South St. Paul?
South St. Paul has an effective property tax rate of 1.124%, based on a median home value of $266,800 and median real estate taxes of $3,000. That is higher than the Dakota County average of 0.997%.
What is the average home price in South St. Paul?
The median owner-occupied home value in South St. Paul, Minnesota is $266,800, against $362,100 across Dakota County.
Is it cheaper to rent or buy in South St. Paul?
Median gross rent in South St. Paul is $1,128 a month, against $2,260 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 South St. Paul?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in South St. Paul, Minnesota at today's rate takes a household income of roughly $97,000 a year. That covers the full $2,260 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for South St. Paul, 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.