The typical owner-occupied home in Zimmerman is worth about $323,600, about the same as the Minnesota median of $329,300 and 3% below the national median of $332,700. Owners pay a median $2,795 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 $85,645 a year, so the median home costs 3.8 times the median income (3.7 times for Minnesota). 82% of occupied homes here are lived in by their owners, and 83% of those owners still have a mortgage.
Zimmerman at a glance
| Zimmerman | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $323,600 | $329,300 | $332,700 |
| Median property tax paid per year | $2,795 | $3,357 | $3,119 |
| Property tax as a share of value | 0.86% | 1.02% | 0.94% |
| Median household income | $85,645 | $89,062 | $80,734 |
| Homes lived in by their owners | 82% | 72% | 65% |
| Owner homes with a mortgage | 83% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,874 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 22.8% | 19.7% | 21.0% |
| Median rent | $1,398 | $1,280 | $1,413 |
| Rent as a share of renters' income | 33.5% | 29.2% | 30.6% |
| Median year homes were built | 2003 | 1979 | 1980 |
| Vacant homes | 5.9% | 9.3% | 10.1% |
| Population | 6,546 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Zimmerman
At this week's average 30-year rate of 7.11%, buying the median Zimmerman home of $323,600 with 20% down costs about $2,108 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,647, 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 $90,354 for the 20%-down payment. That payment is 30% of the median Zimmerman household income of $85,645; at that income and 20% down, the 28% guideline points to a home of about $307,000.
The median rent here is $1,398 a month, so owning the median home costs about $710 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $64,720 |
|---|---|
| Loan amount | $258,880 |
| Principal and interest | $1,742 |
| Property taxes (0.86% a year) | $232 |
| Homeowners insurance (our estimate, 0.5% a year) | $135 |
| PMI | $0 |
| Total per month | $2,108 |
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| Down payment | $11,326 |
|---|---|
| Loan amount | $317,739 |
| Principal and interest | $2,137 |
| Property taxes (0.86% a year) | $232 |
| Homeowners insurance (our estimate, 0.5% a year) | $135 |
| FHA mortgage insurance | $143 |
| Total per month | $2,647 |
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Questions about home buying in Zimmerman
What is the median home value in Zimmerman?
About $323,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Zimmerman?
Homeowners pay a median $2,795 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 Zimmerman?
For the median home with 20% down at 7.11%, the payment is about $2,108 a month. Keeping that under 28% of gross income takes about $90,354 a year.
More about Zimmerman
- Mortgage Refinance in Zimmerman
- Debt Relief in Zimmerman
- Home Equity Loans in Zimmerman
- 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