The typical owner-occupied home in Ihlen is worth about $84,700, 74% below the Minnesota median of $329,300 and 75% below the national median of $332,700. Owners pay a median $486 a year in property taxes, about 0.57% of their home's value, lower than the Minnesota rate of 1.02%. The median household earns $66,103 a year, so the median home costs 1.3 times the median income (3.7 times for Minnesota). 98% of occupied homes here are lived in by their owners, and 30% of those owners still have a mortgage.
Ihlen at a glance
| Ihlen | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $84,700 | $329,300 | $332,700 |
| Median property tax paid per year | $486 | $3,357 | $3,119 |
| Property tax as a share of value | 0.57% | 1.02% | 0.94% |
| Median household income | $66,103 | $89,062 | $80,734 |
| Homes lived in by their owners | 98% | 72% | 65% |
| Owner homes with a mortgage | 30% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,625 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 17.1% | 19.7% | 21.0% |
| Median rent | – | $1,280 | $1,413 |
| Median year homes were built | 1938 | 1979 | 1980 |
| Vacant homes | 1.9% | 9.3% | 10.1% |
| Population | 91 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Ihlen
At this week's average 30-year rate of 7.11%, buying the median Ihlen home of $84,700 with 20% down costs about $531 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $672, 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 $22,772 for the 20%-down payment. That payment is 10% of the median Ihlen household income of $66,103; at that income and 20% down, the 28% guideline points to a home of about $246,000.
| Down payment | $16,940 |
|---|---|
| Loan amount | $67,760 |
| Principal and interest | $456 |
| Property taxes (0.57% a year) | $40 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| PMI | $0 |
| Total per month | $531 |
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| Down payment | $2,964 |
|---|---|
| Loan amount | $83,166 |
| Principal and interest | $559 |
| Property taxes (0.57% a year) | $40 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| FHA mortgage insurance | $37 |
| Total per month | $672 |
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Questions about home buying in Ihlen
What is the median home value in Ihlen?
About $84,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ihlen?
Homeowners pay a median $486 a year, which is about 0.57% 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 Ihlen?
For the median home with 20% down at 7.11%, the payment is about $531 a month. Keeping that under 28% of gross income takes about $22,772 a year.
More about Ihlen
- Mortgage Refinance in Ihlen
- Debt Relief in Ihlen
- Home Equity Loans in Ihlen
- 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