The typical owner-occupied home in Fort Ripley is worth about $275,000, 16% below the Minnesota median of $329,300 and 17% below the national median of $332,700. Owners pay a median $1,833 a year in property taxes, about 0.67% of their home's value, lower than the Minnesota rate of 1.02%. The median household earns $53,542 a year, so the median home costs 5.1 times the median income (3.7 times for Minnesota). 91% of occupied homes here are lived in by their owners, and 33% of those owners still have a mortgage.
Fort Ripley at a glance
| Fort Ripley | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $275,000 | $329,300 | $332,700 |
| Median property tax paid per year | $1,833 | $3,357 | $3,119 |
| Property tax as a share of value | 0.67% | 1.02% | 0.94% |
| Median household income | $53,542 | $89,062 | $80,734 |
| Homes lived in by their owners | 91% | 72% | 65% |
| Owner homes with a mortgage | 33% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,938 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 18.8% | 19.7% | 21.0% |
| Median rent | – | $1,280 | $1,413 |
| Median year homes were built | 1978 | 1979 | 1980 |
| Vacant homes | 0.0% | 9.3% | 10.1% |
| Population | 68 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Fort Ripley
At this week's average 30-year rate of 7.11%, buying the median Fort Ripley home of $275,000 with 20% down costs about $1,748 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,206, 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 $74,918 for the 20%-down payment. That payment is 39% of the median Fort Ripley household income of $53,542; at that income and 20% down, the 28% guideline points to a home of about $197,000.
| Down payment | $55,000 |
|---|---|
| Loan amount | $220,000 |
| Principal and interest | $1,480 |
| Property taxes (0.67% a year) | $154 |
| Homeowners insurance (our estimate, 0.5% a year) | $115 |
| PMI | $0 |
| Total per month | $1,748 |
Change the numbers in the calculator
| Down payment | $9,625 |
|---|---|
| Loan amount | $270,019 |
| Principal and interest | $1,816 |
| Property taxes (0.67% a year) | $154 |
| Homeowners insurance (our estimate, 0.5% a year) | $115 |
| FHA mortgage insurance | $122 |
| Total per month | $2,206 |
Change the numbers in the calculator
Questions about home buying in Fort Ripley
What is the median home value in Fort Ripley?
About $275,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Fort Ripley?
Homeowners pay a median $1,833 a year, which is about 0.67% 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 Fort Ripley?
For the median home with 20% down at 7.11%, the payment is about $1,748 a month. Keeping that under 28% of gross income takes about $74,918 a year.
More about Fort Ripley
- Mortgage Refinance in Fort Ripley
- Debt Relief in Fort Ripley
- Home Equity Loans in Fort Ripley
- 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