Total monthly cost of ownership
Cost to Own a Home in Willmar, Minnesota
A $186,000 home here costs
$1,588per 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 $68,000 a year.
A standard mortgage calculator would have told you $1,014. The real number is $573 higher every month, 57% more than the payment most buyers budget for.
Compare Kandiyohi 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.
Willmar against Kandiyohi County and Minnesota
| Measure | Willmar | Kandiyohi County |
|---|---|---|
| Median home value | $186,000 | $230,500 |
| Median property tax | $1,767 | $2,291 |
| Effective tax rate | 0.950% | 0.994% |
| Median gross rent | $830 | $843 |
| Population | 21,136 | 43,757 |
The weather behind that power bill
Willmar sits in Kandiyohi County, which averages a high of 81.5°F in its hottest month and a low of 2.9°F in its coldest, with 28.67" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 596 cooling and 8,309 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Kandiyohi County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kandiyohi County
Full Kandiyohi County cost breakdown · Every county in Minnesota
Talk to someone who works this market
These are Willmar 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 Willmar every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Willmar I already own here and may sell
Common questions
How much does it cost to own a home in Willmar?
A $186,000 home in Willmar, Minnesota costs approximately $1,588 per month with 20% down at 7.24%. That is $1,014 principal and interest, $147 property tax, $81 homeowners insurance, $190 utilities and $155 set aside for maintenance.
What is the property tax rate in Willmar?
Willmar has an effective property tax rate of 0.950%, based on a median home value of $186,000 and median real estate taxes of $1,767. That is lower than the Kandiyohi County average of 0.994%.
What is the average home price in Willmar?
The median owner-occupied home value in Willmar, Minnesota is $186,000, against $230,500 across Kandiyohi County.
Is it cheaper to rent or buy in Willmar?
Median gross rent in Willmar is $830 a month, against $1,588 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 Willmar?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Willmar, Minnesota at today's rate takes a household income of roughly $68,000 a year. That covers the full $1,588 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Willmar, 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.