The typical owner-occupied home in Long Prairie is worth about $152,000, 54% below the Minnesota median of $329,300 and 54% below the national median of $332,700. Owners pay a median $1,722 a year in property taxes, about 1.13% of their home's value, higher than the Minnesota rate of 1.02%. The median household earns $58,786 a year, so the median home costs 2.6 times the median income (3.7 times for Minnesota). 66% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Long Prairie at a glance
| Long Prairie | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $152,000 | $329,300 | $332,700 |
| Median property tax paid per year | $1,722 | $3,357 | $3,119 |
| Property tax as a share of value | 1.13% | 1.02% | 0.94% |
| Median household income | $58,786 | $89,062 | $80,734 |
| Homes lived in by their owners | 66% | 72% | 65% |
| Owner homes with a mortgage | 53% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,099 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 19.1% | 19.7% | 21.0% |
| Median rent | $1,033 | $1,280 | $1,413 |
| Rent as a share of renters' income | 28.2% | 29.2% | 30.6% |
| Median year homes were built | 1962 | 1979 | 1980 |
| Vacant homes | 4.5% | 9.3% | 10.1% |
| Population | 3,693 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Long Prairie
At this week's average 30-year rate of 7.11%, buying the median Long Prairie home of $152,000 with 20% down costs about $1,024 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,278, 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 $43,906 for the 20%-down payment. That payment is 21% of the median Long Prairie household income of $58,786; at that income and 20% down, the 28% guideline points to a home of about $204,000.
The median rent here is $1,033 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $30,400 |
|---|---|
| Loan amount | $121,600 |
| Principal and interest | $818 |
| Property taxes (1.13% a year) | $143 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| PMI | $0 |
| Total per month | $1,024 |
Change the numbers in the calculator
| Down payment | $5,320 |
|---|---|
| Loan amount | $149,247 |
| Principal and interest | $1,004 |
| Property taxes (1.13% a year) | $143 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| FHA mortgage insurance | $67 |
| Total per month | $1,278 |
Change the numbers in the calculator
Questions about home buying in Long Prairie
What is the median home value in Long Prairie?
About $152,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Long Prairie?
Homeowners pay a median $1,722 a year, which is about 1.13% 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 Long Prairie?
For the median home with 20% down at 7.11%, the payment is about $1,024 a month. Keeping that under 28% of gross income takes about $43,906 a year.
More about Long Prairie
- Mortgage Refinance in Long Prairie
- Debt Relief in Long Prairie
- Home Equity Loans in Long Prairie
- 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