Mortgage payment estimates, closing cost breakdowns, and homebuying data for Moorhead, Minnesota.
Median Home Price
$265K
Population
45K
Avg Monthly Rent
$1,080
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 Moorhead.
Moorhead vs Minnesota Median
The median home price in Moorhead is $265,000, which is 21% below the Minnesota state median of $335,000.
Mortgage Calculator — Moorhead, MN
Pre-filled with Moorhead median home price and Minnesota tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $265K home using Minnesota's 1.12% tax rate and $2,100/yr insurance.
5% Down
$2,160/mo
Down: $13,250
Loan: $252K
P&I: $1,591
Tax: $247
Insurance: $175
PMI: $147
10% Down
$2,069/mo
Down: $26,500
Loan: $239K
P&I: $1,507
Tax: $247
Insurance: $175
PMI: $139
20% Down (No PMI)
$1,762/mo
Down: $53,000
Loan: $212K
P&I: $1,340
Tax: $247
Insurance: $175
Income needed (28% rule): $76K/year with 20% down, $89K/year with 10% down.
Rent vs Buy in Moorhead
Rent
$1,080/mo
vs
Buy (10% down)
$2,069/mo
Price-to-rent ratio: 20.4 — At a ratio above 20, renting may be more economical in Moorhead for shorter stays. Buying costs $989 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Moorhead is $265,000, 21% below the Minnesota state median of $335,000. With a population of 44,505, Moorhead 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 $265,000 home in Moorhead would carry roughly $247/month in property taxes. Homeowners insurance in Minnesota runs approximately $2,100 per year. This is within the normal range nationally.
Average rent in Moorhead is $1,080/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Moorhead presents moderate affordability. The $265K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Moorhead.