Red Wing, MN home prices
Typical home $321,176 · +1.6% in a year · income needed $93,000
The Red Wing, MN metro area ranks 277 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +1.6% in a year and +19.4% over five years. With 20% down at 7.11%, the typical home costs about $2,170 a month including 1.05% property tax (Goodhue County rate).
Mortgage on the typical Red Wing home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $64,235 | $256,941 | $1,728 | $0 | $442 | $2,170 | $93,000 |
| 10% down | $32,118 | $289,059 | $1,945 | $120 | $442 | $2,507 | $107,400 |
| 5% down | $16,059 | $305,118 | $2,053 | $127 | $442 | $2,622 | $112,400 |
| 3.5% down (FHA) | $11,241 | $315,359 | $2,121 | $142 | $442 | $2,706 | $116,000 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.05% 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.
Counties in the Red Wing area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Goodhue County, MN | $321,212 | +1.6% | 1.05% |
What can you afford in Minnesota on your salary? · Minnesota home prices · Salaries in Minnesota
Frequently asked questions
How much is a house in Red Wing?
The typical home in the Red Wing, MN metro area is worth $321,176 (Zillow, September 2026).
What salary do you need to buy a house in Red Wing?
About $93,000 a year for the typical home with 20% down at 7.11%.