Mortgage payment estimates, closing cost breakdowns, and homebuying data for Duluth, Minnesota.
Median Home Price
$245K
Population
91K
Avg Monthly Rent
$1,120
Property Tax Rate
1.12% *
* Property tax shown is the Minnesota state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Duluth.
Duluth vs Minnesota Median
The median home price in Duluth is $245,000, which is 27% below the Minnesota state median of $335,000.
Mortgage Calculator — Duluth, MN
Pre-filled with Duluth median home price and Minnesota tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $245K home using Minnesota's 1.12% tax rate and $2,100/yr insurance.
5% Down
$2,011/mo
Down: $12,250
Loan: $233K
P&I: $1,471
Tax: $229
Insurance: $175
PMI: $136
10% Down
$1,926/mo
Down: $24,500
Loan: $221K
P&I: $1,394
Tax: $229
Insurance: $175
PMI: $129
20% Down (No PMI)
$1,643/mo
Down: $49,000
Loan: $196K
P&I: $1,239
Tax: $229
Insurance: $175
Income needed (28% rule): $70K/year with 20% down, $83K/year with 10% down.
Rent vs Buy in Duluth
Rent
$1,120/mo
vs
Buy (10% down)
$1,926/mo
Price-to-rent ratio: 18.2 — A ratio between 15-20 means the rent vs buy decision in Duluth depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Duluth is $245,000, 27% below the Minnesota state median of $335,000. With a population of 90,880, Duluth is a smaller market where home prices tend to be more accessible than in many parts of Minnesota.
Property taxes in Minnesota average 1.12% annually. This moderate property tax rate means a $245,000 home in Duluth would carry roughly $229/month in property taxes. Homeowners insurance in Minnesota runs approximately $2,100 per year. This is within the normal range nationally.
Average rent in Duluth is $1,120/month. The price-to-rent ratio in Duluth is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Duluth offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Minnesota's Minnesota Housing Start Up program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Duluth.