The typical owner-occupied home in Borup is worth about $63,500, 81% below the Minnesota median of $329,300 and 81% below the national median of $332,700. Owners pay a median $664 a year in property taxes, about 1.05% of their home's value, close to the Minnesota rate of 1.02%. The median household earns $63,125 a year, so the median home costs 1.0 times the median income (3.7 times for Minnesota). 96% of occupied homes here are lived in by their owners, and 25% of those owners still have a mortgage.
Borup at a glance
| Borup | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $63,500 | $329,300 | $332,700 |
| Median property tax paid per year | $664 | $3,357 | $3,119 |
| Property tax as a share of value | 1.05% | 1.02% | 0.94% |
| Median household income | $63,125 | $89,062 | $80,734 |
| Homes lived in by their owners | 96% | 72% | 65% |
| Owner homes with a mortgage | 25% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $675 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 9.0% | 19.7% | 21.0% |
| Median rent | – | $1,280 | $1,413 |
| Median year homes were built | 1972 | 1979 | 1980 |
| Vacant homes | 19.4% | 9.3% | 10.1% |
| Population | 132 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Borup
At this week's average 30-year rate of 7.11%, buying the median Borup home of $63,500 with 20% down costs about $424 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $530, 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 $18,161 for the 20%-down payment. That payment is 8% of the median Borup household income of $63,125; at that income and 20% down, the 28% guideline points to a home of about $221,000.
| Down payment | $12,700 |
|---|---|
| Loan amount | $50,800 |
| Principal and interest | $342 |
| Property taxes (1.05% a year) | $56 |
| Homeowners insurance (our estimate, 0.5% a year) | $26 |
| PMI | $0 |
| Total per month | $424 |
Change the numbers in the calculator
| Down payment | $2,222 |
|---|---|
| Loan amount | $62,350 |
| Principal and interest | $419 |
| Property taxes (1.05% a year) | $56 |
| Homeowners insurance (our estimate, 0.5% a year) | $26 |
| FHA mortgage insurance | $28 |
| Total per month | $530 |
Change the numbers in the calculator
Questions about home buying in Borup
What is the median home value in Borup?
About $63,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Borup?
Homeowners pay a median $664 a year, which is about 1.05% 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 Borup?
For the median home with 20% down at 7.11%, the payment is about $424 a month. Keeping that under 28% of gross income takes about $18,161 a year.
More about Borup
- Mortgage Refinance in Borup
- Debt Relief in Borup
- Home Equity Loans in Borup
- 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