Total monthly cost of ownership
Cost to Own a Home in St. Paul, Minnesota
A $280,000 home here costs
$2,398per 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 $103,000 a year.
A standard mortgage calculator would have told you $1,551. The real number is $847 higher every month, 55% more than the payment most buyers budget for.
Compare Ramsey 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.
St. Paul against Ramsey County and Minnesota
| Measure | St. Paul | Ramsey County |
|---|---|---|
| Median home value | $280,300 | $304,900 |
| Median property tax | $3,605 | $3,767 |
| Effective tax rate | 1.286% | 1.235% |
| Median gross rent | $1,248 | $1,298 |
| Population | 307,762 | 544,438 |
The weather behind that power bill
St. Paul 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 $124 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
Talk to someone who works this market
These are 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 St. Paul every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in St. Paul I already own here and may sell
Common questions
How much does it cost to own a home in St. Paul?
A $280,000 home in St. Paul, Minnesota costs approximately $2,398 per month with 20% down at 7.4%. That is $1,551 principal and interest, $300 property tax, $122 homeowners insurance, $192 utilities and $233 set aside for maintenance.
What is the property tax rate in St. Paul?
St. Paul has an effective property tax rate of 1.286%, based on a median home value of $280,300 and median real estate taxes of $3,605. That is higher than the Ramsey County average of 1.235%.
What is the average home price in St. Paul?
The median owner-occupied home value in St. Paul, Minnesota is $280,300, against $304,900 across Ramsey County.
Is it cheaper to rent or buy in St. Paul?
Median gross rent in St. Paul is $1,248 a month, against $2,398 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 St. Paul?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in St. Paul, Minnesota at today's rate takes a household income of roughly $103,000 a year. That covers the full $2,398 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for 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.