Total monthly cost of ownership
Cost to Own a Home in Waseca, Minnesota
A $186,000 home here costs
$1,636per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $956. The real number is $679 higher every month — 71% 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.
Waseca against Waseca County and Minnesota
| Measure | Waseca | Waseca County |
|---|---|---|
| Median home value | $185,600 | $213,200 |
| Median property tax | $2,673 | $2,537 |
| Effective tax rate | 1.440% | 1.190% |
| Median gross rent | $796 | $819 |
| Population | 9,209 | 18,958 |
The weather behind that power bill
Waseca sits in Waseca County, which averages a high of 81.3°F in its hottest month and a low of 4.8°F in its coldest, with 37.9" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 625 cooling and 8,010 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Waseca County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Waseca County
Full Waseca County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Waseca?
A $186,000 home in Waseca, Minnesota costs approximately $1,636 per month with 20% down at 6.66%. That is $956 principal and interest, $223 property tax, $81 homeowners insurance, $220 utilities and $155 set aside for maintenance.
What is the property tax rate in Waseca?
Waseca has an effective property tax rate of 1.440%, based on a median home value of $185,600 and median real estate taxes of $2,673. That is higher than the Waseca County average of 1.190%.
What is the average home price in Waseca?
The median owner-occupied home value in Waseca, Minnesota is $185,600, against $213,200 across Waseca County.
Is it cheaper to rent or buy in Waseca?
Median gross rent in Waseca is $796 a month, against $1,636 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 Waseca — 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.