Income needed to buy a home
Cottonwood County, MN
$57,093
a year in household income to buy the typical Cottonwood County home with 10% down.
The monthly math
Typical home value$166,979
Down payment (10%)$16,698
Loan$150,281
Principal and interest (7.40%)$1,041/mo
Property tax (1.05% a year)$146/mo
Homeowners insurance (estimate)$83/mo
Mortgage insurance$63/mo
Total monthly cost$1,332/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
Within reach
The typical household here earns $72,941 a year, 28% more than it takes.
In Minnesota
Cottonwood County ranks #5 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 |
| Mahnomen County | $176,641 | $59,286 |
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.