The typical owner-occupied home in Hendricks is worth about $115,500, 65% below the Minnesota median of $329,300 and 65% below the national median of $332,700. Owners pay a median $1,570 a year in property taxes, about 1.36% of their home's value, higher than the Minnesota rate of 1.02%. The median household earns $51,250 a year, so the median home costs 2.3 times the median income (3.7 times for Minnesota). 77% of occupied homes here are lived in by their owners, and 37% of those owners still have a mortgage.
Hendricks at a glance
| Hendricks | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $115,500 | $329,300 | $332,700 |
| Median property tax paid per year | $1,570 | $3,357 | $3,119 |
| Property tax as a share of value | 1.36% | 1.02% | 0.94% |
| Median household income | $51,250 | $89,062 | $80,734 |
| Homes lived in by their owners | 77% | 72% | 65% |
| Owner homes with a mortgage | 37% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $938 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 15.8% | 19.7% | 21.0% |
| Median rent | $775 | $1,280 | $1,413 |
| Rent as a share of renters' income | 25.9% | 29.2% | 30.6% |
| Median year homes were built | 1958 | 1979 | 1980 |
| Vacant homes | 23.2% | 9.3% | 10.1% |
| Population | 517 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Hendricks
At this week's average 30-year rate of 7.11%, buying the median Hendricks home of $115,500 with 20% down costs about $801 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $993, 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 $34,312 for the 20%-down payment. That payment is 19% of the median Hendricks household income of $51,250; at that income and 20% down, the 28% guideline points to a home of about $173,000.
The median rent here is $775 a month, so owning the median home costs about $26 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $23,100 |
|---|---|
| Loan amount | $92,400 |
| Principal and interest | $622 |
| Property taxes (1.36% a year) | $131 |
| Homeowners insurance (our estimate, 0.5% a year) | $48 |
| PMI | $0 |
| Total per month | $801 |
Change the numbers in the calculator
| Down payment | $4,042 |
|---|---|
| Loan amount | $113,408 |
| Principal and interest | $763 |
| Property taxes (1.36% a year) | $131 |
| Homeowners insurance (our estimate, 0.5% a year) | $48 |
| FHA mortgage insurance | $51 |
| Total per month | $993 |
Change the numbers in the calculator
Questions about home buying in Hendricks
What is the median home value in Hendricks?
About $115,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hendricks?
Homeowners pay a median $1,570 a year, which is about 1.36% 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 Hendricks?
For the median home with 20% down at 7.11%, the payment is about $801 a month. Keeping that under 28% of gross income takes about $34,312 a year.
More about Hendricks
- Mortgage Refinance in Hendricks
- Debt Relief in Hendricks
- Home Equity Loans in Hendricks
- 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