Chippewa County, MN real estate

What the numbers say

Chippewa County, MN real estate at a glance

By AstroCore · Realtor.com, US Census and Freddie Mac data

Homeowners in Chippewa County pay a median of $1,711 a year in property taxes on a median home value of $156,100, an effective rate of about 1.10%. The Minnesota average is 1.02%, which makes Chippewa County the #73 lowest-tax of 87 counties in the state with published tax data.

Renters pay a median of $869 a month, and $848 for a two-bedroom. At today's prices a typical home costs about 15 times a year's rent, which generally favors buying.

With 20% down and today's 7.24% average 30-year rate, the monthly payment on a $156,000 home here comes to about $1,059 including property tax and insurance. Lenders typically want that to be under 28% of income, which works out to roughly $45,000 a year (the median household here earns $71,458).