Total monthly cost of ownership
Cost to Own a Home in Tracy, Minnesota
A $111,000 home here costs
$1,071per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $571. The real number is $500 higher every month — 88% 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.
Tracy against Lyon County and Minnesota
| Measure | Tracy | Lyon County |
|---|---|---|
| Median home value | $110,900 | $193,100 |
| Median property tax | $1,671 | $2,021 |
| Effective tax rate | 1.507% | 1.047% |
| Median gross rent | $536 | $742 |
| Population | 1,869 | 25,498 |
The weather behind that power bill
Tracy sits in Lyon County, which averages a high of 84.7°F in its hottest month and a low of 3.6°F in its coldest, with 28.9" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 722 cooling and 7,950 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Lyon County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lyon County
Common questions
How much does it cost to own a home in Tracy?
A $111,000 home in Tracy, Minnesota costs approximately $1,071 per month with 20% down at 6.66%. That is $571 principal and interest, $139 property tax, $48 homeowners insurance, $220 utilities and $93 set aside for maintenance.
What is the property tax rate in Tracy?
Tracy has an effective property tax rate of 1.507%, based on a median home value of $110,900 and median real estate taxes of $1,671. That is higher than the Lyon County average of 1.047%.
What is the average home price in Tracy?
The median owner-occupied home value in Tracy, Minnesota is $110,900, against $193,100 across Lyon County.
Is it cheaper to rent or buy in Tracy?
Median gross rent in Tracy is $536 a month, against $1,071 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 Tracy — 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.