The typical owner-occupied home in Tracy is worth about $113,400, 66% below the Minnesota median of $329,300 and 66% below the national median of $332,700. Owners pay a median $1,753 a year in property taxes, about 1.55% of their home's value, higher than the Minnesota rate of 1.02%. The median household earns $67,788 a year, so the median home costs 1.7 times the median income (3.7 times for Minnesota). 80% of occupied homes here are lived in by their owners, and 32% of those owners still have a mortgage.
Tracy at a glance
| Tracy | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $113,400 | $329,300 | $332,700 |
| Median property tax paid per year | $1,753 | $3,357 | $3,119 |
| Property tax as a share of value | 1.55% | 1.02% | 0.94% |
| Median household income | $67,788 | $89,062 | $80,734 |
| Homes lived in by their owners | 80% | 72% | 65% |
| Owner homes with a mortgage | 32% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,238 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 21.0% | 19.7% | 21.0% |
| Median rent | $697 | $1,280 | $1,413 |
| Rent as a share of renters' income | 19.3% | 29.2% | 30.6% |
| Median year homes were built | 1961 | 1979 | 1980 |
| Vacant homes | 15.7% | 9.3% | 10.1% |
| Population | 2,057 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Tracy
At this week's average 30-year rate of 7.11%, buying the median Tracy home of $113,400 with 20% down costs about $804 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 $34,458 for the 20%-down payment. That payment is 14% of the median Tracy household income of $67,788; at that income and 20% down, the 28% guideline points to a home of about $223,000.
The median rent here is $697 a month, so owning the median home costs about $107 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $22,680 |
|---|---|
| Loan amount | $90,720 |
| Principal and interest | $610 |
| Property taxes (1.55% a year) | $146 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| PMI | $0 |
| Total per month | $804 |
Change the numbers in the calculator
| Down payment | $3,969 |
|---|---|
| Loan amount | $111,346 |
| Principal and interest | $749 |
| Property taxes (1.55% a year) | $146 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| FHA mortgage insurance | $50 |
| Total per month | $993 |
Change the numbers in the calculator
Questions about home buying in Tracy
What is the median home value in Tracy?
About $113,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Tracy?
Homeowners pay a median $1,753 a year, which is about 1.55% 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 Tracy?
For the median home with 20% down at 7.11%, the payment is about $804 a month. Keeping that under 28% of gross income takes about $34,458 a year.
More about Tracy
- Mortgage Refinance in Tracy
- Debt Relief in Tracy
- Home Equity Loans in Tracy
- 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