The typical owner-occupied home in Ruthton is worth about $56,800, 83% below the Minnesota median of $329,300 and 83% below the national median of $332,700. Owners pay a median $822 a year in property taxes, about 1.45% of their home's value, higher than the Minnesota rate of 1.02%. The median household earns $38,864 a year, so the median home costs 1.5 times the median income (3.7 times for Minnesota). 84% of occupied homes here are lived in by their owners, and 25% of those owners still have a mortgage.
Ruthton at a glance
| Ruthton | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $56,800 | $329,300 | $332,700 |
| Median property tax paid per year | $822 | $3,357 | $3,119 |
| Property tax as a share of value | 1.45% | 1.02% | 0.94% |
| Median household income | $38,864 | $89,062 | $80,734 |
| Homes lived in by their owners | 84% | 72% | 65% |
| Owner homes with a mortgage | 25% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,063 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 27.5% | 19.7% | 21.0% |
| Median rent | $625 | $1,280 | $1,413 |
| Rent as a share of renters' income | 23.3% | 29.2% | 30.6% |
| Median year homes were built | 1938 | 1979 | 1980 |
| Vacant homes | 10.8% | 9.3% | 10.1% |
| Population | 222 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Ruthton
At this week's average 30-year rate of 7.11%, buying the median Ruthton home of $56,800 with 20% down costs about $398 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $493, 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 $17,056 for the 20%-down payment. That payment is 12% of the median Ruthton household income of $38,864; at that income and 20% down, the 28% guideline points to a home of about $129,000.
The median rent here is $625 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $11,360 |
|---|---|
| Loan amount | $45,440 |
| Principal and interest | $306 |
| Property taxes (1.45% a year) | $69 |
| Homeowners insurance (our estimate, 0.5% a year) | $24 |
| PMI | $0 |
| Total per month | $398 |
Change the numbers in the calculator
| Down payment | $1,988 |
|---|---|
| Loan amount | $55,771 |
| Principal and interest | $375 |
| Property taxes (1.45% a year) | $69 |
| Homeowners insurance (our estimate, 0.5% a year) | $24 |
| FHA mortgage insurance | $25 |
| Total per month | $493 |
Change the numbers in the calculator
Questions about home buying in Ruthton
What is the median home value in Ruthton?
About $56,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ruthton?
Homeowners pay a median $822 a year, which is about 1.45% 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 Ruthton?
For the median home with 20% down at 7.11%, the payment is about $398 a month. Keeping that under 28% of gross income takes about $17,056 a year.
More about Ruthton
- Mortgage Refinance in Ruthton
- Debt Relief in Ruthton
- Home Equity Loans in Ruthton
- 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