Total monthly cost of ownership
Cost to Own a Home in Waconia, Minnesota
A $408,000 home here costs
$3,291per 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 $141,000 a year.
A standard mortgage calculator would have told you $2,224. The real number is $1,067 higher every month, 48% more than the payment most buyers budget for.
Compare Carver 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.
Waconia against Carver County and Minnesota
| Measure | Waconia | Carver County |
|---|---|---|
| Median home value | $407,600 | $426,900 |
| Median property tax | $4,307 | $4,380 |
| Effective tax rate | 1.057% | 1.026% |
| Median gross rent | $1,299 | $1,444 |
| Population | 13,223 | 108,622 |
The weather behind that power bill
Waconia sits in Carver County, which averages a high of 83.7°F in its hottest month and a low of 7.7°F in its coldest, with 30.64" of precipitation a year and 45% of it in a single three-month stretch. That climate drives 788 cooling and 7,430 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Carver County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Carver County
Full Carver County cost breakdown · Every county in Minnesota
Talk to someone who works this market
These are Waconia 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 Waconia every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Waconia I already own here and may sell
Common questions
How much does it cost to own a home in Waconia?
A $408,000 home in Waconia, Minnesota costs approximately $3,291 per month with 20% down at 7.24%. That is $2,224 principal and interest, $359 property tax, $177 homeowners insurance, $190 utilities and $340 set aside for maintenance.
What is the property tax rate in Waconia?
Waconia has an effective property tax rate of 1.057%, based on a median home value of $407,600 and median real estate taxes of $4,307. That is higher than the Carver County average of 1.026%.
What is the average home price in Waconia?
The median owner-occupied home value in Waconia, Minnesota is $407,600, against $426,900 across Carver County.
Is it cheaper to rent or buy in Waconia?
Median gross rent in Waconia is $1,299 a month, against $3,291 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 Waconia?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Waconia, Minnesota at today's rate takes a household income of roughly $141,000 a year. That covers the full $3,291 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Waconia, 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.