The typical owner-occupied home in Mabel is worth about $131,400, 60% below the Minnesota median of $329,300 and 61% below the national median of $332,700. Owners pay a median $1,488 a year in property taxes, about 1.13% of their home's value, higher than the Minnesota rate of 1.02%. The median household earns $59,392 a year, so the median home costs 2.2 times the median income (3.7 times for Minnesota). 87% of occupied homes here are lived in by their owners, and 60% of those owners still have a mortgage.
Mabel at a glance
| Mabel | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $131,400 | $329,300 | $332,700 |
| Median property tax paid per year | $1,488 | $3,357 | $3,119 |
| Property tax as a share of value | 1.13% | 1.02% | 0.94% |
| Median household income | $59,392 | $89,062 | $80,734 |
| Homes lived in by their owners | 87% | 72% | 65% |
| Owner homes with a mortgage | 60% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,267 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 20.7% | 19.7% | 21.0% |
| Median rent | $729 | $1,280 | $1,413 |
| Rent as a share of renters' income | 16.8% | 29.2% | 30.6% |
| Median year homes were built | 1961 | 1979 | 1980 |
| Vacant homes | 9.9% | 9.3% | 10.1% |
| Population | 730 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Mabel
At this week's average 30-year rate of 7.11%, buying the median Mabel home of $131,400 with 20% down costs about $886 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,105, 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 $37,956 for the 20%-down payment. That payment is 18% of the median Mabel household income of $59,392; at that income and 20% down, the 28% guideline points to a home of about $206,000.
The median rent here is $729 a month, so owning the median home costs about $157 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $26,280 |
|---|---|
| Loan amount | $105,120 |
| Principal and interest | $707 |
| Property taxes (1.13% a year) | $124 |
| Homeowners insurance (our estimate, 0.5% a year) | $55 |
| PMI | $0 |
| Total per month | $886 |
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| Down payment | $4,599 |
|---|---|
| Loan amount | $129,020 |
| Principal and interest | $868 |
| Property taxes (1.13% a year) | $124 |
| Homeowners insurance (our estimate, 0.5% a year) | $55 |
| FHA mortgage insurance | $58 |
| Total per month | $1,105 |
Change the numbers in the calculator
Questions about home buying in Mabel
What is the median home value in Mabel?
About $131,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mabel?
Homeowners pay a median $1,488 a year, which is about 1.13% 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 Mabel?
For the median home with 20% down at 7.11%, the payment is about $886 a month. Keeping that under 28% of gross income takes about $37,956 a year.
More about Mabel
- Mortgage Refinance in Mabel
- Debt Relief in Mabel
- Home Equity Loans in Mabel
- 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