The typical owner-occupied home in Emily is worth about $348,800, 6% above the Minnesota median of $329,300 and 5% above the national median of $332,700. Owners pay a median $2,377 a year in property taxes, about 0.68% of their home's value, lower than the Minnesota rate of 1.02%. The median household earns $68,250 a year, so the median home costs 5.1 times the median income (3.7 times for Minnesota). 94% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Emily at a glance
| Emily | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $348,800 | $329,300 | $332,700 |
| Median property tax paid per year | $2,377 | $3,357 | $3,119 |
| Property tax as a share of value | 0.68% | 1.02% | 0.94% |
| Median household income | $68,250 | $89,062 | $80,734 |
| Homes lived in by their owners | 94% | 72% | 65% |
| Owner homes with a mortgage | 59% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,702 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 25.8% | 19.7% | 21.0% |
| Median rent | $680 | $1,280 | $1,413 |
| Median year homes were built | 1987 | 1979 | 1980 |
| Vacant homes | 67.3% | 9.3% | 10.1% |
| Population | 693 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Emily
At this week's average 30-year rate of 7.11%, buying the median Emily home of $348,800 with 20% down costs about $2,220 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,801, 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 $95,148 for the 20%-down payment. That payment is 39% of the median Emily household income of $68,250; at that income and 20% down, the 28% guideline points to a home of about $250,000.
The median rent here is $680 a month, so owning the median home costs about $1,540 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $69,760 |
|---|---|
| Loan amount | $279,040 |
| Principal and interest | $1,877 |
| Property taxes (0.68% a year) | $198 |
| Homeowners insurance (our estimate, 0.5% a year) | $145 |
| PMI | $0 |
| Total per month | $2,220 |
Change the numbers in the calculator
| Down payment | $12,208 |
|---|---|
| Loan amount | $342,482 |
| Principal and interest | $2,304 |
| Property taxes (0.68% a year) | $198 |
| Homeowners insurance (our estimate, 0.5% a year) | $145 |
| FHA mortgage insurance | $154 |
| Total per month | $2,801 |
Change the numbers in the calculator
Questions about home buying in Emily
What is the median home value in Emily?
About $348,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Emily?
Homeowners pay a median $2,377 a year, which is about 0.68% 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 Emily?
For the median home with 20% down at 7.11%, the payment is about $2,220 a month. Keeping that under 28% of gross income takes about $95,148 a year.
More about Emily
- Mortgage Refinance in Emily
- Debt Relief in Emily
- Home Equity Loans in Emily
- 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