The typical owner-occupied home in Chanhassen is worth about $566,300, 72% above the Minnesota median of $329,300 and 70% above the national median of $332,700. Owners pay a median $5,383 a year in property taxes, about 0.95% of their home's value, lower than the Minnesota rate of 1.02%. The median household earns $143,651 a year, so the median home costs 3.9 times the median income (3.7 times for Minnesota). 84% of occupied homes here are lived in by their owners, and 73% of those owners still have a mortgage.
Chanhassen at a glance
| Chanhassen | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $566,300 | $329,300 | $332,700 |
| Median property tax paid per year | $5,383 | $3,357 | $3,119 |
| Property tax as a share of value | 0.95% | 1.02% | 0.94% |
| Median household income | $143,651 | $89,062 | $80,734 |
| Homes lived in by their owners | 84% | 72% | 65% |
| Owner homes with a mortgage | 73% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $2,753 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 19.1% | 19.7% | 21.0% |
| Median rent | $1,831 | $1,280 | $1,413 |
| Rent as a share of renters' income | 28.6% | 29.2% | 30.6% |
| Median year homes were built | 1994 | 1979 | 1980 |
| Vacant homes | 4.0% | 9.3% | 10.1% |
| Population | 26,006 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Chanhassen
At this week's average 30-year rate of 7.11%, buying the median Chanhassen home of $566,300 with 20% down costs about $3,732 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,675, 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 $159,939 for the 20%-down payment. That payment is 31% of the median Chanhassen household income of $143,651; at that income and 20% down, the 28% guideline points to a home of about $509,000.
The median rent here is $1,831 a month, so owning the median home costs about $1,901 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $113,260 |
|---|---|
| Loan amount | $453,040 |
| Principal and interest | $3,048 |
| Property taxes (0.95% a year) | $448 |
| Homeowners insurance (our estimate, 0.5% a year) | $236 |
| PMI | $0 |
| Total per month | $3,732 |
Change the numbers in the calculator
| Down payment | $19,820 |
|---|---|
| Loan amount | $556,043 |
| Principal and interest | $3,741 |
| Property taxes (0.95% a year) | $448 |
| Homeowners insurance (our estimate, 0.5% a year) | $236 |
| FHA mortgage insurance | $250 |
| Total per month | $4,675 |
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Questions about home buying in Chanhassen
What is the median home value in Chanhassen?
About $566,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Chanhassen?
Homeowners pay a median $5,383 a year, which is about 0.95% 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 Chanhassen?
For the median home with 20% down at 7.11%, the payment is about $3,732 a month. Keeping that under 28% of gross income takes about $159,939 a year.
More about Chanhassen
- Mortgage Refinance in Chanhassen
- Debt Relief in Chanhassen
- Home Equity Loans in Chanhassen
- 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