CALCMONEY // MORTGAGE // MN // EDINA
Calculate your monthly mortgage payment using Edina-specific property tax rates and local market data.
$850,000
6.9%
1.2%
166
| Principal & Interest | $4,478 |
| Property Tax | $850 |
| Homeowners Insurance (est.) | $283 |
| Total Monthly Payment (PITI) | $5,612 |
$170,000
$932,253
$240,506/yr
Edina homebuyers are working with a $850,000 median price point, 102% above the national figure. Against the $155,000 median household income in the area, that's a 5.5x multiple.
Factor in $850/month for property tax in Edina, based on the area's 1.2% effective rate applied to the median home price. That's $10,200 annually.
Minnesota levies a state income tax on top of the $5,612/month this mortgage runs. Model your real after-tax take-home before deciding how much payment you can carry.
Edina's cost of living index is 166, above the 100 national baseline. That's on top of the housing numbers above, not instead of them.
Edina's median home price runs 139% higher than nearby Minneapolis: $355,000 there versus $850,000 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $680,000 loan saves $30,600 in interest over 30 years.
Compare Top Edina Mortgage LendersMinneapolis
$355,000 median
MNSt. Paul
$290,000 median
MNRochester
$320,000 median
MNDuluth
$215,000 median
Neighborhood-level data for 1 ZIP codes in Edina. Rates, home prices, and estimated payments vary by area.