The typical owner-occupied home in Pipestone County is worth about $140,200, 57% below the Minnesota median of $329,300 and 58% below the national median of $332,700. Owners pay a median $1,209 a year in property taxes, about 0.86% of their home's value, lower than the Minnesota rate of 1.02%. The median household earns $69,628 a year, so the median home costs 2.0 times the median income (3.7 times for Minnesota). 81% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Pipestone County at a glance
| Pipestone County | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $140,200 | $329,300 | $332,700 |
| Median property tax paid per year | $1,209 | $3,357 | $3,119 |
| Property tax as a share of value | 0.86% | 1.02% | 0.94% |
| Median household income | $69,628 | $89,062 | $80,734 |
| Homes lived in by their owners | 81% | 72% | 65% |
| Owner homes with a mortgage | 50% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,165 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 16.8% | 19.7% | 21.0% |
| Median rent | $754 | $1,280 | $1,413 |
| Rent as a share of renters' income | 27.3% | 29.2% | 30.6% |
| Median year homes were built | 1956 | 1979 | 1980 |
| Vacant homes | 8.2% | 9.3% | 10.1% |
| Population | 9,284 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Pipestone County
At this week's average 30-year rate of 7.11%, buying the median Pipestone County home of $140,200 with 20% down costs about $913 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,147, 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 $39,146 for the 20%-down payment. That payment is 16% of the median Pipestone County household income of $69,628; at that income and 20% down, the 28% guideline points to a home of about $249,000.
The median rent here is $754 a month, so owning the median home costs about $159 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $28,040 |
|---|---|
| Loan amount | $112,160 |
| Principal and interest | $755 |
| Property taxes (0.86% a year) | $100 |
| Homeowners insurance (our estimate, 0.5% a year) | $58 |
| PMI | $0 |
| Total per month | $913 |
Change the numbers in the calculator
| Down payment | $4,907 |
|---|---|
| Loan amount | $137,661 |
| Principal and interest | $926 |
| Property taxes (0.86% a year) | $100 |
| Homeowners insurance (our estimate, 0.5% a year) | $58 |
| FHA mortgage insurance | $62 |
| Total per month | $1,147 |
Change the numbers in the calculator
Questions about home buying in Pipestone County
What is the median home value in Pipestone County?
About $140,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Pipestone County?
Homeowners pay a median $1,209 a year, which is about 0.86% 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 Pipestone County?
For the median home with 20% down at 7.11%, the payment is about $913 a month. Keeping that under 28% of gross income takes about $39,146 a year.
More about Pipestone County
- Mortgage Refinance in Pipestone County
- Debt Relief in Pipestone County
- Home Equity Loans in Pipestone County
- 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