Total monthly cost of ownership
Cost to Own a Home in Spring Lake Park, Minnesota
A $282,000 home here costs
$2,269per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,450. The real number is $819 higher every month — 57% 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.
Spring Lake Park against Ramsey County and Minnesota
| Measure | Spring Lake Park | Ramsey County |
|---|---|---|
| Median home value | $281,800 | $304,900 |
| Median property tax | $2,897 | $3,767 |
| Effective tax rate | 1.028% | 1.235% |
| Median gross rent | $1,375 | $1,298 |
| Population | 6,997 | 544,438 |
Spring Lake Park extends across 2 counties. Figures here use Ramsey County, where most of its housing sits.
The weather behind that power bill
Spring Lake Park sits in Ramsey County, which averages a high of 82.7°F in its hottest month and a low of 8.3°F in its coldest, with 33.11" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 790 cooling and 7,327 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Ramsey County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ramsey County
Full Ramsey County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Spring Lake Park?
A $282,000 home in Spring Lake Park, Minnesota costs approximately $2,269 per month with 20% down at 6.66%. That is $1,450 principal and interest, $242 property tax, $122 homeowners insurance, $220 utilities and $235 set aside for maintenance.
What is the property tax rate in Spring Lake Park?
Spring Lake Park has an effective property tax rate of 1.028%, based on a median home value of $281,800 and median real estate taxes of $2,897. That is lower than the Ramsey County average of 1.235%.
What is the average home price in Spring Lake Park?
The median owner-occupied home value in Spring Lake Park, Minnesota is $281,800, against $304,900 across Ramsey County.
Is it cheaper to rent or buy in Spring Lake Park?
Median gross rent in Spring Lake Park is $1,375 a month, against $2,269 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 Spring Lake Park — 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.