Total monthly cost of ownership
Cost to Own a Home in Wanamingo, Minnesota
A $247,000 home here costs
$2,067per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,270. The real number is $797 higher every month — 63% 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.
Wanamingo against Goodhue County and Minnesota
| Measure | Wanamingo | Goodhue County |
|---|---|---|
| Median home value | $247,400 | $269,400 |
| Median property tax | $3,164 | $2,866 |
| Effective tax rate | 1.279% | 1.064% |
| Median gross rent | $611 | $939 |
| Population | 1,185 | 47,844 |
The weather behind that power bill
Wanamingo sits in Goodhue County, which averages a high of 81.0°F in its hottest month and a low of 4.1°F in its coldest, with 35.19" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 507 cooling and 8,127 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Goodhue County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Goodhue County
Full Goodhue County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Wanamingo?
A $247,000 home in Wanamingo, Minnesota costs approximately $2,067 per month with 20% down at 6.66%. That is $1,270 principal and interest, $263 property tax, $107 homeowners insurance, $220 utilities and $206 set aside for maintenance.
What is the property tax rate in Wanamingo?
Wanamingo has an effective property tax rate of 1.279%, based on a median home value of $247,400 and median real estate taxes of $3,164. That is higher than the Goodhue County average of 1.064%.
What is the average home price in Wanamingo?
The median owner-occupied home value in Wanamingo, Minnesota is $247,400, against $269,400 across Goodhue County.
Is it cheaper to rent or buy in Wanamingo?
Median gross rent in Wanamingo is $611 a month, against $2,067 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 Wanamingo — 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.