According to data from ClosingCorp, the average closing cost in Minnesota is $3,842.64 after taxes, or approximately 1.28% to 1.92% of the final home sale price.
Across the state, the average home sells for between $200,000 and $300,000. If you buy a property in that range, expect to pay between $2,561.76 and $5,763.96 in closing costs after taxes.
| Data | Value |
|---|---|
| Average home sale price | $200,000 to $300,000 |
| Average total closing cost | $3,842.64 |
| Expected closing cost range | $2,561.76 to $5,763.96 |
| Percentage of closing cost to home sale price | 1.28% to 1.92% |
Buyers and sellers in Minnesota pay an average of $1,415.18 in tax combined for the closing. This accounts for 36.83% of the total average closing cost in Minnesota.
| Value | |
|---|---|
| Average tax paid | $1,415.18 |
| Percentage of total closing cost | 36.83% |
The closing costs for buying a home in Minnesota are above the national average after accounting for taxes. It’s 29 in our rankings which rates states from lowest to highest closing cost.
| Average total closing cost in Minnesota | Ranking* | |
|---|---|---|
| Before taxes | $2,427.46 | 32 |
| After taxes | $3,842.64 | 29 |
*Ranked from lowest to highest of the 50 states plus Washington DC
Closing costs are inevitable when you're buying or selling a property. The exact amount will vary depending on where the property is located in Minnesota.
To save on your home loan, consider comparing the fees and rates of top lenders before signing.
A review of CashUSA, a loan connection service that may match you with lenders offering loans up to $10,000.
Explore different ways you could earn money playing games with GPT apps, Twitch streaming, esports competitions, and trading cards.
Compare highly rated and legit survey sites for your next side hustle, how to maximize your survey earnings, and how to avoid scams.
Learn how to become user tester, how much you can earn, top platforms for user testing, and how to avoid scams.
Learn how to earn money through trusted online surveys, including top platforms, practical tips, and some red flags to watch out for.
Earning extra cash can be as simple as sharing your thoughts. In this guide, we’ll walk you through some of the most trusted survey sites and show you how to get started right away.
Cash Advance loans by amount from $100 all the way up to $1,000 USD.
Bonds, treasury securities, blue chip stocks, ETFs, REITs, CDs and annuities are some of the best investments for retirees.
GoHenry is now Acorns Early. If you’re looking for a GoHenry alternative, try Greenlight, Step, Current, Modak Makers or Chase First.
Top apps like Self that build credit include Kikoff, Grow Credit, Chime Secured Credit Builder Card, Credit Strong and Cleo.