Compare Dakota, MN mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Dakota.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Dakota. Plus, shopping lenders is free and there is no obligation.
August 18, 2025
Below we provide helpful information on the real estate market, home prices and housing affordability in Dakota. Understand how much you need to earn to afford a home in Dakota, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Dakota fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Dakota is right for you.
The median home value for Dakota, MN is $363,174
Based on current mortgage rates and a 10% down payment, you need to make $75,764 per year to buy the median priced home in Dakota
With this income, you could qualify for a $326,857 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Dakota is $1,755
The median household income for Dakota, MN is $95,155
Based on this income, you can afford a home valued at approximately $456,126
The home price you can afford to buy based on household income in Dakota is 126% of the median home value which means housing prices are average. Dakota ranks 75 out of 87 counties in Minnesota and 2,409 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Dakota, MN is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Dakota below.
Conforming loan limits for Dakota, MN
FHA loan limits for Dakota, MN