Lake of the Woods County, MN real estate

What the numbers say

Lake of the Woods County, MN real estate at a glance

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

Homeowners in Lake of the Woods County pay a median of $1,419 a year in property taxes on a median home value of $216,100, an effective rate of about 0.66%. The Minnesota average is 1.02%, which makes Lake of the Woods County the #3 lowest-tax of 87 counties in the state with published tax data.

Renters pay a median of $955 a month, and $1,056 for a two-bedroom. At today's prices a typical home costs about 19 times a year's rent.

With 20% down and today's 7.24% average 30-year rate, the monthly payment on a $216,000 home here comes to about $1,386 including property tax and insurance. Lenders typically want that to be under 28% of income, which works out to roughly $59,000 a year (the median household here earns $77,546).