CALCMONEY // HOME AFFORDABILITY // MN // DULUTH
How much house can you afford in Duluth? Based on local median home prices, current MN mortgage rates, and Duluth property tax data.
$215,000
$1,482/mo
$63,521/yr
$163,976
Monthly housing costs of $1,482 represent 34.2% of Duluth's median gross monthly income ($4,333/mo). At 34.2%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $215,000 |
| Down Payment (20%) | $43,000 |
| Loan Amount | $172,000 |
| Monthly PI Payment | $1,133 |
| Monthly Property Tax | $260 |
| Monthly Insurance Est. | $90 |
| Total Monthly PITI | $1,482 |
| Housing Cost % of Income | 34.2% |
| Required Income (28% rule) | $63,521/yr |
| Max Affordable Home | $163,976 |
$7,525
$1,863/mo
Duluth Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $215,000 | Duluth city median |
| Down Payment (20%) | $43,000 | Conventional loan |
| Monthly PITI | $1,482 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $63,521 | Annual gross |
| Max Affordable Home | $163,976 | Based on median income |
| FHA Down (3.5%) | $7,525 | Minimum FHA |
| Housing Cost % of Income | 34.2% | Median income: $52,000/yr |
| Property Tax Rate | 1.45% | $3,118/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Duluth is $215,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $172,000, generating a monthly P&I payment of $1,133. Adding property taxes ($260/mo) and homeowners insurance ($90/mo) brings total monthly PITI to $1,482.
Duluth's property tax rate of 1.45% is near the national average, adding a standard increment to monthly housing costs. On the Duluth median home, that is $260/month, or $3,118 per year.
Minnesota levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Duluth should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Duluth's median income of $52,000/year can afford up to $1,213/month in total housing costs. Based on Duluth's mortgage rate of 6.9% and property tax rate of 1.45%, that translates to a maximum affordable home price of approximately $163,976 with 20% down on a 30-year loan.
To afford the median Duluth home priced at $215,000, you need an annual gross income of approximately $63,521. Total monthly housing costs (principal and interest of $1,133, property taxes of $260, and insurance of $90) come to $1,482/month, which equals 28% of the required income.
At the median home price of $215,000 and median household income of $52,000, the total monthly housing cost of $1,482 represents 34.2% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Duluth home of $215,000 is $43,000. An FHA loan requires just 3.5% down — $7,525 — but adds mortgage insurance of roughly $147/month, bringing total FHA payments to $1,863/month.
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