Total monthly cost of ownership
Cost to Own a Home in White Bear Lake, Minnesota
A $318,000 home here costs
$2,642per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $113,000 a year.
A standard mortgage calculator would have told you $1,761. The real number is $881 higher every month, 50% more than the payment most buyers budget for.
Compare Ramsey 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.
White Bear Lake against Ramsey County and Minnesota
| Measure | White Bear Lake | Ramsey County |
|---|---|---|
| Median home value | $318,000 | $304,900 |
| Median property tax | $3,425 | $3,767 |
| Effective tax rate | 1.077% | 1.235% |
| Median gross rent | $1,540 | $1,298 |
| Population | 24,026 | 544,438 |
White Bear Lake extends across 2 counties. Figures here use Ramsey County, where most of its housing sits.
The weather behind that power bill
White Bear Lake sits in Ramsey County, which averages a high of 82.7°F in its hottest month and a low of 8.3°F in its coldest, with 33.11" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 790 cooling and 7,327 heating degree days, which is what sets the $124 electricity line above.
See the full climate breakdown for Ramsey County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ramsey County
Full Ramsey County cost breakdown · Every county in Minnesota
Talk to someone who works this market
These are White Bear Lake 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 White Bear Lake every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in White Bear Lake I already own here and may sell
Common questions
How much does it cost to own a home in White Bear Lake?
A $318,000 home in White Bear Lake, Minnesota costs approximately $2,642 per month with 20% down at 7.4%. That is $1,761 principal and interest, $285 property tax, $138 homeowners insurance, $192 utilities and $265 set aside for maintenance.
What is the property tax rate in White Bear Lake?
White Bear Lake has an effective property tax rate of 1.077%, based on a median home value of $318,000 and median real estate taxes of $3,425. That is lower than the Ramsey County average of 1.235%.
What is the average home price in White Bear Lake?
The median owner-occupied home value in White Bear Lake, Minnesota is $318,000, against $304,900 across Ramsey County.
Is it cheaper to rent or buy in White Bear Lake?
Median gross rent in White Bear Lake is $1,540 a month, against $2,642 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 White Bear Lake?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in White Bear Lake, Minnesota at today's rate takes a household income of roughly $113,000 a year. That covers the full $2,642 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for White Bear Lake, 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.