Minnesota Mortgage Rates & Home Prices (2026)
Median price: $335,000 · Avg. rate: 6.84%
Minnesota Market Overview
$335,000
Median Home Price
6.84%
Avg. 30-Yr Rate
1.12%
Property Tax Rate
72.0%
Homeownership Rate
Minnesota's Twin Cities metro drives the housing market, while greater Minnesota offers very affordable options. Minnesota Housing provides up to $18,000 in down payment assistance through deferred loans. The state has one of the highest homeownership rates nationally.
Estimated Monthly Payment
Median home in Minnesota (20% down, 30-yr fixed)
$2,207/mo
Principal & Interest$1,754
Property Taxes$313
Home Insurance (est.)$140
Total Monthly (PITI)$2,207
Based on a $335,000 home with 20% down ($268,000 loan) at 6.84%. Does not include PMI, HOA, or other fees.
First-Time Buyer Programs in Minnesota
- Minnesota Housing Start Up Program
- Deferred Payment Loan
- Monthly Payment Loan
Contact your state's Housing Finance Agency for current program availability and requirements.
Rate Comparison: MN Rates
30-Year Fixed6.84%
15-Year Fixed6.06%
5/1 ARM (est.)6.09%
FHA 30-Year6.69%
VA 30-Year6.59%
Rates are estimates based on state averages and may vary by lender and borrower qualifications.
Frequently Asked Questions
Key Stats: MN
FHA Loan Limit$472,030
Median Income$84,313
Cost Index1.02x