Free mortgage calculator tailored for Minnesota (MN). Calculate instantly with state-specific rates and rules.
Minnesota's housing market is anchored by the Minneapolis-Saint Paul metro area. Home prices are moderate by large-metro standards. Minnesota Housing offers several first-time buyer programs including Start Up and Step Up, which provide favorable rates and down payment loans.
| Data Point | Value |
|---|---|
| Median Home Value | $300,000 |
| Conforming Loan Limit | $726,200 |
| Median Household Income | $77,720 |
| Est. Monthly Payment (median price, 20% down, 7% rate) | ~$1,597/mo |
Enter the home price you are targeting, your down payment amount, and your interest rate. For Minnesota, the median home value is $300,000. With a 20% down payment of $60,000, your estimated loan amount would be $240,000 — well within the Minnesota conforming loan limit of $726,200.
Use CalcuWealth's mortgage calculator to model different down payment percentages, interest rates, and loan terms to find the monthly payment that fits your Minnesota budget.
Data: US Census Bureau ACS 2023, Zillow (2024), Vanguard How America Saves (2023), NCES. Updated 2024–2025. Figures reflect state averages — consult a licensed financial advisor for personalized guidance.
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