Total monthly cost of ownership
Cost to Own a Home in Stewartville, Minnesota
A $258,000 home here costs
$2,224per 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 $95,500 a year.
A standard mortgage calculator would have told you $1,429. The real number is $795 higher every month, 56% more than the payment most buyers budget for.
Compare Olmsted 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.
Stewartville against Olmsted County and Minnesota
| Measure | Stewartville | Olmsted County |
|---|---|---|
| Median home value | $258,000 | $304,500 |
| Median property tax | $3,310 | $3,314 |
| Effective tax rate | 1.283% | 1.088% |
| Median gross rent | $975 | $1,283 |
| Population | 6,754 | 163,425 |
The weather behind that power bill
Stewartville sits in Olmsted County, which averages a high of 80.3°F in its hottest month and a low of 7.0°F in its coldest, with 34.67" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 533 cooling and 7,856 heating degree days, which is what sets the $124 electricity line above.
See the full climate breakdown for Olmsted County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Olmsted County
Full Olmsted County cost breakdown · Every county in Minnesota
Talk to someone who works this market
These are Stewartville 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 Stewartville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Stewartville I already own here and may sell
Common questions
How much does it cost to own a home in Stewartville?
A $258,000 home in Stewartville, Minnesota costs approximately $2,224 per month with 20% down at 7.4%. That is $1,429 principal and interest, $276 property tax, $112 homeowners insurance, $192 utilities and $215 set aside for maintenance.
What is the property tax rate in Stewartville?
Stewartville has an effective property tax rate of 1.283%, based on a median home value of $258,000 and median real estate taxes of $3,310. That is higher than the Olmsted County average of 1.088%.
What is the average home price in Stewartville?
The median owner-occupied home value in Stewartville, Minnesota is $258,000, against $304,500 across Olmsted County.
Is it cheaper to rent or buy in Stewartville?
Median gross rent in Stewartville is $975 a month, against $2,224 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 Stewartville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Stewartville, Minnesota at today's rate takes a household income of roughly $95,500 a year. That covers the full $2,224 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Stewartville, 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.