The typical owner-occupied home in Scandia is worth about $475,800, 44% above the Minnesota median of $329,300 and 43% above the national median of $332,700. Owners pay a median $4,352 a year in property taxes, about 0.91% of their home's value, lower than the Minnesota rate of 1.02%. The median household earns $101,953 a year, so the median home costs 4.7 times the median income (3.7 times for Minnesota). 89% of occupied homes here are lived in by their owners, and 62% of those owners still have a mortgage.
Scandia at a glance
| Scandia | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $475,800 | $329,300 | $332,700 |
| Median property tax paid per year | $4,352 | $3,357 | $3,119 |
| Property tax as a share of value | 0.91% | 1.02% | 0.94% |
| Median household income | $101,953 | $89,062 | $80,734 |
| Homes lived in by their owners | 89% | 72% | 65% |
| Owner homes with a mortgage | 62% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $2,407 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 22.0% | 19.7% | 21.0% |
| Median rent | – | $1,280 | $1,413 |
| Rent as a share of renters' income | 41.2% | 29.2% | 30.6% |
| Median year homes were built | 1978 | 1979 | 1980 |
| Vacant homes | 9.2% | 9.3% | 10.1% |
| Population | 3,950 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Scandia
At this week's average 30-year rate of 7.11%, buying the median Scandia home of $475,800 with 20% down costs about $3,120 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,912, 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 $133,700 for the 20%-down payment. That payment is 37% of the median Scandia household income of $101,953; at that income and 20% down, the 28% guideline points to a home of about $363,000.
| Down payment | $95,160 |
|---|---|
| Loan amount | $380,640 |
| Principal and interest | $2,561 |
| Property taxes (0.91% a year) | $361 |
| Homeowners insurance (our estimate, 0.5% a year) | $198 |
| PMI | $0 |
| Total per month | $3,120 |
Change the numbers in the calculator
| Down payment | $16,653 |
|---|---|
| Loan amount | $467,182 |
| Principal and interest | $3,143 |
| Property taxes (0.91% a year) | $361 |
| Homeowners insurance (our estimate, 0.5% a year) | $198 |
| FHA mortgage insurance | $210 |
| Total per month | $3,912 |
Change the numbers in the calculator
Questions about home buying in Scandia
What is the median home value in Scandia?
About $475,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Scandia?
Homeowners pay a median $4,352 a year, which is about 0.91% 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 Scandia?
For the median home with 20% down at 7.11%, the payment is about $3,120 a month. Keeping that under 28% of gross income takes about $133,700 a year.
More about Scandia
- Mortgage Refinance in Scandia
- Debt Relief in Scandia
- Home Equity Loans in Scandia
- 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