Income needed to buy a home
Carlton County, MN
$103,101
a year in household income to buy the typical Carlton County home with 10% down.
The monthly math
Typical home value$300,440
Down payment (10%)$30,044
Loan$270,396
Principal and interest (7.40%)$1,872/mo
Property tax (1.08% a year)$271/mo
Homeowners insurance (estimate)$150/mo
Mortgage insurance$113/mo
Total monthly cost$2,406/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
A stretch
The typical household here earns $80,573 a year, 78% of what it takes.
In Minnesota
Carlton County ranks #55 of 87 for the income a home takes, from least to most.
Easiest to afford in Minnesota
| County | Typical home | Income needed |
|---|---|---|
| Kittson County | $144,933 | $48,349 |
| Traverse County | $150,628 | $50,803 |
| Koochiching County | $156,754 | $52,141 |
| Faribault County | $163,932 | $55,202 |
| Cottonwood County | $166,979 | $57,093 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.