Total monthly cost of ownership
Cost to Own a Home in St. Peter, Minnesota
A $239,000 home here costs
$1,978per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,229. The real number is $749 higher every month — 61% 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.
St. Peter against Nicollet County and Minnesota
| Measure | St. Peter | Nicollet County |
|---|---|---|
| Median home value | $238,700 | $258,500 |
| Median property tax | $2,708 | $2,888 |
| Effective tax rate | 1.134% | 1.117% |
| Median gross rent | $943 | $931 |
| Population | 12,085 | 34,350 |
The weather behind that power bill
St. Peter sits in Nicollet County, which averages a high of 81.4°F in its hottest month and a low of 3.6°F in its coldest, with 32.84" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 542 cooling and 8,077 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Nicollet County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Nicollet County
Full Nicollet County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in St. Peter?
A $239,000 home in St. Peter, Minnesota costs approximately $1,978 per month with 20% down at 6.66%. That is $1,229 principal and interest, $226 property tax, $104 homeowners insurance, $220 utilities and $199 set aside for maintenance.
What is the property tax rate in St. Peter?
St. Peter has an effective property tax rate of 1.134%, based on a median home value of $238,700 and median real estate taxes of $2,708. That is higher than the Nicollet County average of 1.117%.
What is the average home price in St. Peter?
The median owner-occupied home value in St. Peter, Minnesota is $238,700, against $258,500 across Nicollet County.
Is it cheaper to rent or buy in St. Peter?
Median gross rent in St. Peter is $943 a month, against $1,978 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 St. Peter — 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.