The typical owner-occupied home in Brainerd is worth about $192,500, 42% below the Minnesota median of $329,300 and 42% below the national median of $332,700. Owners pay a median $2,082 a year in property taxes, about 1.08% of their home's value, higher than the Minnesota rate of 1.02%. The median household earns $56,111 a year, so the median home costs 3.4 times the median income (3.7 times for Minnesota). 57% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
Brainerd at a glance
| Brainerd | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $192,500 | $329,300 | $332,700 |
| Median property tax paid per year | $2,082 | $3,357 | $3,119 |
| Property tax as a share of value | 1.08% | 1.02% | 0.94% |
| Median household income | $56,111 | $89,062 | $80,734 |
| Homes lived in by their owners | 57% | 72% | 65% |
| Owner homes with a mortgage | 63% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,420 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 21.3% | 19.7% | 21.0% |
| Median rent | $827 | $1,280 | $1,413 |
| Rent as a share of renters' income | 26.3% | 29.2% | 30.6% |
| Median year homes were built | 1971 | 1979 | 1980 |
| Vacant homes | 6.1% | 9.3% | 10.1% |
| Population | 14,468 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Brainerd
At this week's average 30-year rate of 7.11%, buying the median Brainerd home of $192,500 with 20% down costs about $1,289 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,610, 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 $55,261 for the 20%-down payment. That payment is 28% of the median Brainerd household income of $56,111; at that income and 20% down, the 28% guideline points to a home of about $195,000.
The median rent here is $827 a month, so owning the median home costs about $462 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $38,500 |
|---|---|
| Loan amount | $154,000 |
| Principal and interest | $1,036 |
| Property taxes (1.08% a year) | $173 |
| Homeowners insurance (our estimate, 0.5% a year) | $80 |
| PMI | $0 |
| Total per month | $1,289 |
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| Down payment | $6,738 |
|---|---|
| Loan amount | $189,013 |
| Principal and interest | $1,272 |
| Property taxes (1.08% a year) | $173 |
| Homeowners insurance (our estimate, 0.5% a year) | $80 |
| FHA mortgage insurance | $85 |
| Total per month | $1,610 |
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Questions about home buying in Brainerd
What is the median home value in Brainerd?
About $192,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Brainerd?
Homeowners pay a median $2,082 a year, which is about 1.08% 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 Brainerd?
For the median home with 20% down at 7.11%, the payment is about $1,289 a month. Keeping that under 28% of gross income takes about $55,261 a year.
More about Brainerd
- Mortgage Refinance in Brainerd
- Debt Relief in Brainerd
- Home Equity Loans in Brainerd
- 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