The typical owner-occupied home in Alexandria is worth about $275,300, 16% below the Minnesota median of $329,300 and 17% below the national median of $332,700. Owners pay a median $2,564 a year in property taxes, about 0.93% of their home's value, lower than the Minnesota rate of 1.02%. The median household earns $61,374 a year, so the median home costs 4.5 times the median income (3.7 times for Minnesota). 57% of occupied homes here are lived in by their owners, and 66% of those owners still have a mortgage.
Alexandria at a glance
| Alexandria | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $275,300 | $329,300 | $332,700 |
| Median property tax paid per year | $2,564 | $3,357 | $3,119 |
| Property tax as a share of value | 0.93% | 1.02% | 0.94% |
| Median household income | $61,374 | $89,062 | $80,734 |
| Homes lived in by their owners | 57% | 72% | 65% |
| Owner homes with a mortgage | 66% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,609 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 19.1% | 19.7% | 21.0% |
| Median rent | $934 | $1,280 | $1,413 |
| Rent as a share of renters' income | 28.3% | 29.2% | 30.6% |
| Median year homes were built | 1984 | 1979 | 1980 |
| Vacant homes | 9.6% | 9.3% | 10.1% |
| Population | 14,735 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Alexandria
At this week's average 30-year rate of 7.11%, buying the median Alexandria home of $275,300 with 20% down costs about $1,810 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,268, 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 $77,556 for the 20%-down payment. That payment is 35% of the median Alexandria household income of $61,374; at that income and 20% down, the 28% guideline points to a home of about $218,000.
The median rent here is $934 a month, so owning the median home costs about $876 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $55,060 |
|---|---|
| Loan amount | $220,240 |
| Principal and interest | $1,482 |
| Property taxes (0.93% a year) | $213 |
| Homeowners insurance (our estimate, 0.5% a year) | $115 |
| PMI | $0 |
| Total per month | $1,810 |
Change the numbers in the calculator
| Down payment | $9,636 |
|---|---|
| Loan amount | $270,314 |
| Principal and interest | $1,818 |
| Property taxes (0.93% a year) | $213 |
| Homeowners insurance (our estimate, 0.5% a year) | $115 |
| FHA mortgage insurance | $122 |
| Total per month | $2,268 |
Change the numbers in the calculator
Questions about home buying in Alexandria
What is the median home value in Alexandria?
About $275,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Alexandria?
Homeowners pay a median $2,564 a year, which is about 0.93% 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 Alexandria?
For the median home with 20% down at 7.11%, the payment is about $1,810 a month. Keeping that under 28% of gross income takes about $77,556 a year.
More about Alexandria
- Mortgage Refinance in Alexandria
- Debt Relief in Alexandria
- Home Equity Loans in Alexandria
- 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