How much do homeowners pay a month in Granite Falls, MN?
Homeowners with a mortgage in Granite Falls, MN pay a median of $1,377 (±$71) a month in selected owner costs (2020–2024 American Community Survey).
Owners without a mortgage pay $523 (±$83).
53.6% of owned homes carry a mortgage.
In Granite Falls, the median monthly cost with a mortgage went from $1,312 in 2015–2019 to $1,377 in 2020–2024 (+5.0%).
Prices (CPI-U) rose 22.7% over the same years, so it rose more slowly than prices: a measurable decrease after inflation.
Figures last updated on .
- With a mortgage
- $1,377 (±$71)
- Without a mortgage
- $523 (±$83)
- Owned with a mortgage
- 53.6%
Monthly owner costs in Granite Falls
| Granite Falls | Yellow Medicine County | Minnesota | United States | |
|---|---|---|---|---|
| With a mortgage | $1,377 (±$71) | $1,389 (±$41) | $1,947 (±$7) | $1,963 |
| Without a mortgage | $523 (±$83) | $586 (±$23) | $698 (±$3) | $638 |
| Owned homes with a mortgage | 53.6% (±7.6 points) | 45.9% (±2.5 points) | 64.0% (±0.2 points) | 60.6% |
| Median real estate taxes (a year) | $1,931 (±$251) | $1,606 (±$110) | $3,357 (±$10) | $3,119 |
Selected monthly owner costs are the mortgage payment, property taxes, insurance, utilities, fuels and any condominium or mobile-home fees.
In Granite Falls, the median cost with a mortgage is not measurably different from Yellow Medicine County ($1,389).
It is also lower than in Minnesota ($1,947).
It is lower than the national figure ($1,963).
In Yellow Medicine County, Granite Falls ranks 18 of 27 places with a published estimate, from highest to lowest median monthly cost with a mortgage.
Statewide, it ranks 1928 of 2,496.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How owner costs in Granite Falls have changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median owner cost with a mortgage | $1,312 (±$75) | $1,377 (±$71) | +5.0% | Down after inflation |
| Median real estate taxes | $1,804 (±$151) | $1,931 (±$251) | +7.0% | No measurable change after inflation |
| Median home value | $125,300 (±$11,654) | $136,700 (±$17,486) | +9.1% | No measurable change after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median monthly cost with a mortgage in places near Granite Falls
| Place | Distance | Median monthly cost with a mortgage | Compared with this place |
|---|---|---|---|
| Granite Falls | — | $1,377 (±$71) | — |
| Granite Falls Township | 3.2 mi | $1,625 (±$93) | Higher |
| Minnesota Falls Township | 3.8 mi | $1,591 (±$237) | Not measurably different |
| Stony Run Township | 6.0 mi | $1,733 (±$433) | Not measurably different |
| Wang Township | 6.5 mi | $1,850 (±$242) | Higher |
| Hazel Run Township | 6.8 mi | $1,614 (±$95) | Higher |
| Hawk Creek Township | 6.9 mi | $1,375 (±$214) | Not measurably different |
| Maynard | 7.7 mi | $950 (±$223) | Lower |
| Leenthrop Township | 8.3 mi | $1,750 (±$728) | Not measurably different |
Nearby places with a measurably lower figure: Maynard, MN ($950).
Nearby places with a measurably higher figure: Granite Falls Township, MN ($1,625), Wang Township, MN ($1,850), Hazel Run Township, MN ($1,614).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median monthly cost with a mortgage across Yellow Medicine County, place by place
| Rank | Place | Median monthly cost with a mortgage |
|---|---|---|
| 12 | Minnesota Falls Township | $1,591 (±$237) |
| 13 | Normania Township | $1,554 (±$189) |
| 14 (tie) | Hammer Township | $1,500 (±$1,192) |
| 14 (tie) | Wergeland Township | $1,500 (±$230) |
| 16 | Wood Lake Township | $1,458 (±$423) |
| 17 | Friendship Township | $1,403 (±$171) |
| 18 | Granite Falls | $1,377 (±$71) |
| 19 | Hanley Falls | $1,363 (±$53) |
| 20 | Canby | $1,341 (±$159) |
| 21 (tie) | Echo | $1,250 (±$609) |
| 21 (tie) | Florida Township | $1,250 (±$269) |
| 23 | Oshkosh Township | $1,200 (±$257) |
| 24 | Tyro Township | $1,167 (±$241) |
Showing 13 of 27 places in Yellow Medicine County, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Granite Falls
What is the average mortgage payment in Granite Falls?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Granite Falls, MN is $1,377 (±$71) a month, including taxes, insurance and utilities.
How much does it cost to own a paid-off home in Granite Falls?
Owners without a mortgage in Granite Falls pay a median of $523 (±$83) a month in taxes, insurance, utilities and fees.
Has the cost of owning a home in Granite Falls gone up?
In Granite Falls, the median monthly cost with a mortgage went from $1,312 in 2015–2019 to $1,377 in 2020–2024 (+5.0%).
Prices (CPI-U) rose 22.7% over the same years, so it rose more slowly than prices: a measurable decrease after inflation.
Sources
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Granite Falls city, Minnesota
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Granite Falls city, Minnesota
- Median Selected Monthly Owner Costs (B25088), 2015–2019 ACS 5-year estimates — Granite Falls city, Minnesota
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2015–2019 ACS 5-year estimates — Granite Falls city, Minnesota
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Granite Falls city, Minnesota
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Granite Falls city, Minnesota (place:25280, in state:27).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B25088_002E, B25088_002M, B25103_001E, B25103_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP04_0101E, DP04_0101M, DP04_0109E, DP04_0109M, DP04_0091PE, DP04_0091PM, B25103_001E, B25103_001M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
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- Population growth in Granite Falls
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- Minnesota landlord and tenant rules
- Housing across Yellow Medicine County
- Housing data for every place in Minnesota