Morrison County, MN real estate

Market data, tax and rent figures from the 2024 Census survey.

Median home value

$248,500Median home value · Census

Property tax rate

0.88%Below state avg 1.02%Median bill $2,190/yr · Census

Median rent

$7882-bed $858Per month · Census

30-yr mortgage rate

7.24%Freddie Mac weekly average

What the numbers say

Morrison County, MN real estate at a glance

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

Homeowners in Morrison County pay a median of $2,190 a year in property taxes on a median home value of $248,500, an effective rate of about 0.88%. The Minnesota average is 1.02%, which makes Morrison County the #24 lowest-tax of 87 counties in the state with published tax data.

Renters pay a median of $788 a month, and $858 for a two-bedroom. At today's prices a typical home costs about 26 times a year's rent, which generally favors renting over buying in the short term.

With 20% down and today's 7.24% average 30-year rate, the monthly payment on a $249,000 home here comes to about $1,641 including property tax and insurance. Lenders typically want that to be under 28% of income, which works out to roughly $70,000 a year (the median household here earns $69,446).

Monthly payment on a typical home

$1,641/mo
  • Principal & interest$1,355
  • Property tax$183
  • Insurance (est.)$104

$249,000 home · 20% down · 7.24% 30-year fixed

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Rents in Morrison County by bedrooms

Studio$52849% below state
1 bedroom$61845% below state
2 bedrooms$85837% below state
3 bedrooms$1,07931% below state
4 bedrooms$1,12737% below state

Median gross rent (rent plus utilities), US Census American Community Survey 2024 5-year estimates.

Selling here?See what you'd walk away with after commissions and closing costs.Seller net sheet → Buying here?Monthly payment with Morrison County's real property tax rate.Mortgage calculator → Agent here?Find out how many listing appointments you need to hit your income goal.Agent income calculator →

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Sources: Realtor.com housing inventory (monthly) and Freddie Mac Primary Mortgage Market Survey (weekly), via FRED, Federal Reserve Bank of St. Louis; US Census Bureau American Community Survey 5-year estimates (property taxes, home values, rents, income). Insurance is an estimate. Medians for the whole county; individual homes vary. For information only.