How Much House Can I Afford on a 90k Income in Minnesota?
With a 90k income, you're right on target for purchasing a home in Minnesota. Financial advisors recommend spending about 3 to 4 times your annual income on a home, which translates to a budget between $270,000 and $360,000.
In Minneapolis, the median home price is approximately $350,000, fitting neatly within your target range. This balance ensures a wide variety of quality homes are available to you.
Additionally, other cities like St. Paul and Rochester offer appealing options at around $300,000. With a property tax rate of 1.15%—amounting to roughly $4,025 per year—and a cost of living near the national average, your income comfortably supports homeownership across the state.