Total monthly cost of ownership
Cost to Own a Home in Wheaton, Minnesota
A $82,000 home here costs
$828per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $422. The real number is $406 higher every month — 96% 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.
Wheaton against Traverse County and Minnesota
| Measure | Wheaton | Traverse County |
|---|---|---|
| Median home value | $82,200 | $110,100 |
| Median property tax | $987 | $1,070 |
| Effective tax rate | 1.201% | 0.972% |
| Median gross rent | $582 | $617 |
| Population | 1,334 | 3,279 |
The weather behind that power bill
Wheaton sits in Traverse County, which averages a high of 82.4°F in its hottest month and a low of 2.7°F in its coldest, with 25.3" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 666 cooling and 8,323 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Traverse County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Traverse County
No other places of this size are published in Traverse County.
Full Traverse County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Wheaton?
A $82,000 home in Wheaton, Minnesota costs approximately $828 per month with 20% down at 6.66%. That is $422 principal and interest, $82 property tax, $36 homeowners insurance, $220 utilities and $68 set aside for maintenance.
What is the property tax rate in Wheaton?
Wheaton has an effective property tax rate of 1.201%, based on a median home value of $82,200 and median real estate taxes of $987. That is higher than the Traverse County average of 0.972%.
What is the average home price in Wheaton?
The median owner-occupied home value in Wheaton, Minnesota is $82,200, against $110,100 across Traverse County.
Is it cheaper to rent or buy in Wheaton?
Median gross rent in Wheaton is $582 a month, against $828 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 Wheaton — 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.