The typical owner-occupied home in Warsaw is worth about $301,500, 8% below the Minnesota median of $329,300 and 9% below the national median of $332,700. Owners pay a median $2,207 a year in property taxes, about 0.73% of their home's value, lower than the Minnesota rate of 1.02%. The median household earns $93,750 a year, so the median home costs 3.2 times the median income (3.7 times for Minnesota). 97% of occupied homes here are lived in by their owners, and 62% of those owners still have a mortgage.
Warsaw at a glance
| Warsaw | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $301,500 | $329,300 | $332,700 |
| Median property tax paid per year | $2,207 | $3,357 | $3,119 |
| Property tax as a share of value | 0.73% | 1.02% | 0.94% |
| Median household income | $93,750 | $89,062 | $80,734 |
| Homes lived in by their owners | 97% | 72% | 65% |
| Owner homes with a mortgage | 62% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,890 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 18.4% | 19.7% | 21.0% |
| Median rent | $825 | $1,280 | $1,413 |
| Rent as a share of renters' income | 10.6% | 29.2% | 30.6% |
| Median year homes were built | 1975 | 1979 | 1980 |
| Vacant homes | 22.2% | 9.3% | 10.1% |
| Population | 560 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Warsaw
At this week's average 30-year rate of 7.11%, buying the median Warsaw home of $301,500 with 20% down costs about $1,932 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,434, 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 $82,783 for the 20%-down payment. That payment is 25% of the median Warsaw household income of $93,750; at that income and 20% down, the 28% guideline points to a home of about $341,000.
The median rent here is $825 a month, so owning the median home costs about $1,107 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $60,300 |
|---|---|
| Loan amount | $241,200 |
| Principal and interest | $1,623 |
| Property taxes (0.73% a year) | $183 |
| Homeowners insurance (our estimate, 0.5% a year) | $126 |
| PMI | $0 |
| Total per month | $1,932 |
Change the numbers in the calculator
| Down payment | $10,552 |
|---|---|
| Loan amount | $296,039 |
| Principal and interest | $1,991 |
| Property taxes (0.73% a year) | $183 |
| Homeowners insurance (our estimate, 0.5% a year) | $126 |
| FHA mortgage insurance | $133 |
| Total per month | $2,434 |
Change the numbers in the calculator
Questions about home buying in Warsaw
What is the median home value in Warsaw?
About $301,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Warsaw?
Homeowners pay a median $2,207 a year, which is about 0.73% 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 Warsaw?
For the median home with 20% down at 7.11%, the payment is about $1,932 a month. Keeping that under 28% of gross income takes about $82,783 a year.
More about Warsaw
- Mortgage Refinance in Warsaw
- Debt Relief in Warsaw
- Home Equity Loans in Warsaw
- 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