Mortgage payment estimates, closing cost breakdowns, and homebuying data for Austin, Minnesota.
Pre-filled with Austin median home price and Minnesota tax/insurance rates. Adjust for your property.
Estimated closing costs based on Minnesota rates and fees applied to Austin prices.
The median home price in Austin is $185,000, 45% below the Minnesota state median of $335,000. With a population of 25,180, Austin is a smaller market where home prices tend to be more accessible than in many parts of Minnesota.
Property taxes in Minnesota average 1.12% annually. This moderate property tax rate means a $185,000 home in Austin would carry roughly $173/month in property taxes. Homeowners insurance in Minnesota runs approximately $2,100 per year. This is within the normal range nationally.
Average rent in Austin is $850/month. The price-to-rent ratio in Austin is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Austin offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Minnesota's Minnesota Housing Start Up program.