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Minneapolis Mortgage Calculator

Estimate your true cost of homeownership in Minneapolis with localized property taxes, insurance, and utility data.

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Est. Total Monthly Cost
$2,709
P&I Payment$2,026
Taxes & Ins$532
Utilities$151
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Mortgage Details

$387,573
Local Median: $387,573
$77,515 (20%)
%

Used with your down payment to fetch a live, scenario-specific rate.

Local Area Costs

Monthly$2,709

Monthly Breakdown

Principal & Interest
$2,026
Property Taxes
$374
Homeowners Ins.
$158
Utilities
$151

Amortization Schedule

Loan balance and total interest paid over 30 years.

Total Interest
$419,338

Local Housing Facts for Minneapolis

  • ·Median home value: $387,573 (adjusted for current market conditions)
  • ·Est. property taxes: $4,489/yr — pre-loaded from county assessment data
  • ·Homeowners insurance (HO-3): $1,894/yr — based on local per-$1K premium rates
  • ·Energy utilities: $1,808/yr — sourced from DOE LEAD survey data
  • ·Flood insurance: optional — toggled off by default, estimate based on FEMA risk profile

Frequently Asked Questions

How much are property taxes in Minneapolis?

Based on the local median home value, estimated real estate property taxes in Minneapolis are around $4,489 per year.

What is the average home price in Minneapolis?

The median home value in Minneapolis is currently estimated at $387,573.

How much does homeowners insurance cost in Minneapolis?

For a median priced home, homeowners insurance in Minneapolis averages around $1,894 annually.

What is the true total cost of owning a home in Minneapolis?

True homeownership costs go beyond principal and interest. In Minneapolis, a typical homeowner with a median-priced home of $387,573 can expect to pay roughly $4,489/yr in property taxes, $1,894/yr for homeowners insurance, and $1,808/yr in energy utilities. That adds approximately $683 per month in ongoing costs on top of your mortgage payment. Use our calculator above to model your exact all-in monthly cost.