The typical owner-occupied home in Essig is worth about $160,900, 51% below the Minnesota median of $329,300 and 52% below the national median of $332,700. Owners pay a median $1,250 a year in property taxes, about 0.78% of their home's value, lower than the Minnesota rate of 1.02%. 100% of occupied homes here are lived in by their owners, and 68% of those owners still have a mortgage.
Essig at a glance
| Essig | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $160,900 | $329,300 | $332,700 |
| Median property tax paid per year | $1,250 | $3,357 | $3,119 |
| Property tax as a share of value | 0.78% | 1.02% | 0.94% |
| Median household income | – | $89,062 | $80,734 |
| Homes lived in by their owners | 100% | 72% | 65% |
| Owner homes with a mortgage | 68% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,797 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 13.0% | 19.7% | 21.0% |
| Median rent | – | $1,280 | $1,413 |
| Median year homes were built | 1955 | 1979 | 1980 |
| Vacant homes | 0.0% | 9.3% | 10.1% |
| Population | 76 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Essig
At this week's average 30-year rate of 7.11%, buying the median Essig home of $160,900 with 20% down costs about $1,038 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,306, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $44,466 for the 20%-down payment.
| Down payment | $32,180 |
|---|---|
| Loan amount | $128,720 |
| Principal and interest | $866 |
| Property taxes (0.78% a year) | $105 |
| Homeowners insurance (our estimate, 0.5% a year) | $67 |
| PMI | $0 |
| Total per month | $1,038 |
Change the numbers in the calculator
| Down payment | $5,632 |
|---|---|
| Loan amount | $157,986 |
| Principal and interest | $1,063 |
| Property taxes (0.78% a year) | $105 |
| Homeowners insurance (our estimate, 0.5% a year) | $67 |
| FHA mortgage insurance | $71 |
| Total per month | $1,306 |
Change the numbers in the calculator
Questions about home buying in Essig
What is the median home value in Essig?
About $160,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Essig?
Homeowners pay a median $1,250 a year, which is about 0.78% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Essig?
For the median home with 20% down at 7.11%, the payment is about $1,038 a month. Keeping that under 28% of gross income takes about $44,466 a year.
More about Essig
- Mortgage Refinance in Essig
- Debt Relief in Essig
- Home Equity Loans in Essig
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data