The typical owner-occupied home in Tyler is worth about $151,100, 54% below the Minnesota median of $329,300 and 55% below the national median of $332,700. Owners pay a median $1,272 a year in property taxes, about 0.84% of their home's value, lower than the Minnesota rate of 1.02%. The median household earns $65,500 a year, so the median home costs 2.3 times the median income (3.7 times for Minnesota). 75% of occupied homes here are lived in by their owners, and 47% of those owners still have a mortgage.
Tyler at a glance
| Tyler | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $151,100 | $329,300 | $332,700 |
| Median property tax paid per year | $1,272 | $3,357 | $3,119 |
| Property tax as a share of value | 0.84% | 1.02% | 0.94% |
| Median household income | $65,500 | $89,062 | $80,734 |
| Homes lived in by their owners | 75% | 72% | 65% |
| Owner homes with a mortgage | 47% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,218 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 14.0% | 19.7% | 21.0% |
| Median rent | $750 | $1,280 | $1,413 |
| Rent as a share of renters' income | 22.3% | 29.2% | 30.6% |
| Median year homes were built | 1955 | 1979 | 1980 |
| Vacant homes | 13.2% | 9.3% | 10.1% |
| Population | 1,090 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Tyler
At this week's average 30-year rate of 7.11%, buying the median Tyler home of $151,100 with 20% down costs about $982 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,234, 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 $42,081 for the 20%-down payment. That payment is 18% of the median Tyler household income of $65,500; at that income and 20% down, the 28% guideline points to a home of about $235,000.
The median rent here is $750 a month, so owning the median home costs about $232 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $30,220 |
|---|---|
| Loan amount | $120,880 |
| Principal and interest | $813 |
| Property taxes (0.84% a year) | $106 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| PMI | $0 |
| Total per month | $982 |
Change the numbers in the calculator
| Down payment | $5,288 |
|---|---|
| Loan amount | $148,363 |
| Principal and interest | $998 |
| Property taxes (0.84% a year) | $106 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| FHA mortgage insurance | $67 |
| Total per month | $1,234 |
Change the numbers in the calculator
Questions about home buying in Tyler
What is the median home value in Tyler?
About $151,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Tyler?
Homeowners pay a median $1,272 a year, which is about 0.84% 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 Tyler?
For the median home with 20% down at 7.11%, the payment is about $982 a month. Keeping that under 28% of gross income takes about $42,081 a year.
More about Tyler
- Mortgage Refinance in Tyler
- Debt Relief in Tyler
- Home Equity Loans in Tyler
- 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