Mortgage payment estimates, closing cost breakdowns, and homebuying data for Plymouth, Minnesota.
Median Home Price
$415K
Population
81K
Avg Monthly Rent
$1,620
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 Plymouth.
Plymouth vs Minnesota Median
The median home price in Plymouth is $415,000, which is 24% above the Minnesota state median of $335,000.
Mortgage Calculator — Plymouth, MN
Pre-filled with Plymouth median home price and Minnesota tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $415K home using Minnesota's 1.12% tax rate and $2,100/yr insurance.
5% Down
$3,284/mo
Down: $20,750
Loan: $394K
P&I: $2,492
Tax: $387
Insurance: $175
PMI: $230
10% Down
$3,141/mo
Down: $41,500
Loan: $374K
P&I: $2,361
Tax: $387
Insurance: $175
PMI: $218
20% Down (No PMI)
$2,661/mo
Down: $83,000
Loan: $332K
P&I: $2,098
Tax: $387
Insurance: $175
Income needed (28% rule): $114K/year with 20% down, $135K/year with 10% down.
Rent vs Buy in Plymouth
Rent
$1,620/mo
vs
Buy (10% down)
$3,141/mo
Price-to-rent ratio: 21.3 — At a ratio above 20, renting may be more economical in Plymouth for shorter stays. Buying costs $1,521 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 Plymouth is $415,000, 24% above the Minnesota state median of $335,000. With a population of 81,026, Plymouth is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Minnesota average 1.12% annually. This moderate property tax rate means a $415,000 home in Plymouth would carry roughly $387/month in property taxes. Homeowners insurance in Minnesota runs approximately $2,100 per year. This is within the normal range nationally.
Average rent in Plymouth is $1,620/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.
Plymouth is a higher-cost market. At $415K median, buyers need significant savings or strong income. Down payment assistance through Minnesota's Minnesota Housing Start Up program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Plymouth.