Total monthly cost of ownership
Cost to Own a Home in Wabasha, Minnesota
A $213,000 home here costs
$1,824per 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 $78,000 a year.
A standard mortgage calculator would have told you $1,161. The real number is $663 higher every month, 57% more than the payment most buyers budget for.
Compare Wabasha County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Wabasha from a five-year rolling sample, and with about 2,569 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 Wabasha 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.
Wabasha against Wabasha County and Minnesota
| Measure | Wabasha | Wabasha County |
|---|---|---|
| Median home value | $212,800 | $245,800 |
| Median property tax | $2,428 | $2,675 |
| Effective tax rate | 1.141% | 1.088% |
| Median gross rent | $773 | $798 |
| Population | 2,569 | 21,519 |
The weather behind that power bill
Wabasha sits in Wabasha County, which averages a high of 83.1°F in its hottest month and a low of 4.2°F in its coldest, with 35.47" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 614 cooling and 7,860 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Wabasha County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wabasha County
Full Wabasha County cost breakdown · Every county in Minnesota
Talk to someone who works this market
These are Wabasha 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 Wabasha every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Wabasha I already own here and may sell
Common questions
How much does it cost to own a home in Wabasha?
A $213,000 home in Wabasha, Minnesota costs approximately $1,824 per month with 20% down at 7.24%. That is $1,161 principal and interest, $203 property tax, $92 homeowners insurance, $190 utilities and $178 set aside for maintenance.
What is the property tax rate in Wabasha?
Wabasha has an effective property tax rate of 1.141%, based on a median home value of $212,800 and median real estate taxes of $2,428. That is higher than the Wabasha County average of 1.088%.
What is the average home price in Wabasha?
The median owner-occupied home value in Wabasha, Minnesota is $212,800, against $245,800 across Wabasha County.
Is it cheaper to rent or buy in Wabasha?
Median gross rent in Wabasha is $773 a month, against $1,824 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 Wabasha?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Wabasha, Minnesota at today's rate takes a household income of roughly $78,000 a year. That covers the full $1,824 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Wabasha, 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.