Total monthly cost of ownership
Cost to Own a Home in Taylors Falls, Minnesota
A $256,000 home here costs
$2,147per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $92,000 a year.
A standard mortgage calculator would have told you $1,396. The real number is $751 higher every month, 54% more than the payment most buyers budget for.
Compare Chisago County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Taylors Falls from a five-year rolling sample, and with about 1,208 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Chisago County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Taylors Falls against Chisago County and Minnesota
| Measure | Taylors Falls | Chisago County |
|---|---|---|
| Median home value | $256,000 | $326,600 |
| Median property tax | $2,837 | $3,668 |
| Effective tax rate | 1.108% | 1.123% |
| Median gross rent | $985 | $1,112 |
| Population | 1,208 | 57,434 |
The weather behind that power bill
Taylors Falls sits in Chisago County, which averages a high of 82.1°F in its hottest month and a low of -0.1°F in its coldest, with 32.39" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 446 cooling and 8,608 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Chisago County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Chisago County
Full Chisago County cost breakdown · Every county in Minnesota
Talk to someone who works this market
These are Taylors Falls 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 Taylors Falls every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Taylors Falls I already own here and may sell
Common questions
How much does it cost to own a home in Taylors Falls?
A $256,000 home in Taylors Falls, Minnesota costs approximately $2,147 per month with 20% down at 7.24%. That is $1,396 principal and interest, $236 property tax, $111 homeowners insurance, $190 utilities and $213 set aside for maintenance.
What is the property tax rate in Taylors Falls?
Taylors Falls has an effective property tax rate of 1.108%, based on a median home value of $256,000 and median real estate taxes of $2,837. That is lower than the Chisago County average of 1.123%.
What is the average home price in Taylors Falls?
The median owner-occupied home value in Taylors Falls, Minnesota is $256,000, against $326,600 across Chisago County.
Is it cheaper to rent or buy in Taylors Falls?
Median gross rent in Taylors Falls is $985 a month, against $2,147 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 Taylors Falls?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Taylors Falls, Minnesota at today's rate takes a household income of roughly $92,000 a year. That covers the full $2,147 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Taylors Falls, 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.