The typical owner-occupied home in Goodridge is worth about $57,000, 83% below the Minnesota median of $329,300 and 83% below the national median of $332,700. Owners pay a median $750 a year in property taxes, about 1.32% of their home's value, higher than the Minnesota rate of 1.02%. The median household earns $41,042 a year, so the median home costs 1.4 times the median income (3.7 times for Minnesota). 85% of occupied homes here are lived in by their owners, and 35% of those owners still have a mortgage.
Goodridge at a glance
| Goodridge | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $57,000 | $329,300 | $332,700 |
| Median property tax paid per year | $750 | $3,357 | $3,119 |
| Property tax as a share of value | 1.32% | 1.02% | 0.94% |
| Median household income | $41,042 | $89,062 | $80,734 |
| Homes lived in by their owners | 85% | 72% | 65% |
| Owner homes with a mortgage | 35% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $950 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 30.0% | 19.7% | 21.0% |
| Median rent | – | $1,280 | $1,413 |
| Median year homes were built | 1973 | 1979 | 1980 |
| Vacant homes | 37.2% | 9.3% | 10.1% |
| Population | 49 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Goodridge
At this week's average 30-year rate of 7.11%, buying the median Goodridge home of $57,000 with 20% down costs about $393 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $488, 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 $16,851 for the 20%-down payment. That payment is 11% of the median Goodridge household income of $41,042; at that income and 20% down, the 28% guideline points to a home of about $139,000.
| Down payment | $11,400 |
|---|---|
| Loan amount | $45,600 |
| Principal and interest | $307 |
| Property taxes (1.32% a year) | $63 |
| Homeowners insurance (our estimate, 0.5% a year) | $24 |
| PMI | $0 |
| Total per month | $393 |
Change the numbers in the calculator
| Down payment | $1,995 |
|---|---|
| Loan amount | $55,968 |
| Principal and interest | $376 |
| Property taxes (1.32% a year) | $63 |
| Homeowners insurance (our estimate, 0.5% a year) | $24 |
| FHA mortgage insurance | $25 |
| Total per month | $488 |
Change the numbers in the calculator
Questions about home buying in Goodridge
What is the median home value in Goodridge?
About $57,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Goodridge?
Homeowners pay a median $750 a year, which is about 1.32% 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 Goodridge?
For the median home with 20% down at 7.11%, the payment is about $393 a month. Keeping that under 28% of gross income takes about $16,851 a year.
More about Goodridge
- Mortgage Refinance in Goodridge
- Debt Relief in Goodridge
- Home Equity Loans in Goodridge
- 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