Traverse County, Minnesota home prices
Typical home $151,419 · +7.6% in a year · property tax 0.99%
The typical home in Traverse County is worth $151,419, 57% less than the Minnesota typical home ($348,778). Values changed +7.6% in the past year and +19.0% over five years. Homeowners here pay a median 0.99% of their home's value in property tax each year ($1,494 on the typical home), versus 1.04% statewide.
Mortgage on the typical Traverse County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $30,284 | $121,135 | $815 | $0 | $200 | $1,015 | $43,500 |
| 10% down | $15,142 | $136,277 | $917 | $57 | $200 | $1,174 | $50,300 |
| 5% down | $7,571 | $143,848 | $968 | $60 | $200 | $1,228 | $52,600 |
| 3.5% down (FHA) | $5,300 | $148,676 | $1,000 | $67 | $200 | $1,267 | $54,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.99% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in Minnesota.
Minnesota counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Kittson County | $145,496 | +0.1% | 0.92% |
| Koochiching County | $157,546 | +4.1% | 0.74% |
| Faribault County | $161,984 | +3.7% | 0.99% |
| Cottonwood County | $169,239 | -0.2% | 1.05% |
| Watonwan County | $174,190 | +3.2% | 1.05% |
| Mahnomen County | $175,907 | +7.3% | 0.93% |
| Yellow Medicine County | $176,826 | +6.3% | 1.04% |
| Norman County | $181,155 | +5.8% | 0.94% |
| Redwood County | $187,335 | +6.2% | 1% |
| Pennington County | $191,990 | -2.4% | 1.26% |
Frequently asked questions
What is the average home price in Traverse County, MN?
The typical home value in Traverse County is $151,419 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Traverse County?
About $43,500 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Traverse County?
The median effective rate is 0.99% of home value a year (Census ACS 2024 5-year estimates).