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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Cannon Falls, MN Housing Affordability Index

Cannon Falls, Minnesota has an MBR Housing Affordability Index score of 103.9 (Near National Average) as of October 30, 2026, ranking 616th most affordable of 809 scored Minnesota cities, compared with 97.5 statewide and 97.4 nationally. On a median-priced $263,300 home with 20% down, the Minnesota average 30-year fixed rate of 7.27% means a monthly principal and interest payment of about $1,439, or 21% of the city’s $84,097 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Cannon Falls is updated every night from live Minnesota mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Cannon Falls MBR-HAI 103.9 Near National Average
Rank in Minnesota 616 of 809 1 = most affordable
Minnesota 97.5 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.27% Minnesota lenders
Median home value $263,300 U.S. Census Bureau

Cannon Falls is 6.5 points above the Minnesota score. Scores as of October 30, 2026. See the Minnesota index

View Cannon Falls Mortgage Rates

What It Takes to Buy in Cannon Falls

$1,439/mo
Principal & Interest
Median home, 20% down, 7.27%
$61,700
Income Needed
To keep the payment at 28% of income
$84,097
Median Household Income
Minnesota: $89,062
3.1x
Price-to-Income Ratio
Minnesota: 3.7x
$1,499/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$2,810/yr
Median Property Tax
1.07% of median value
32.2%
Owner Cost Burden
Owners spending 30%+ of income on housing
55.1%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Cannon Falls, Minnesota. The rate is the Minnesota average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

How Cannon Falls Ranks in Minnesota

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Cite the Cannon Falls Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Cannon Falls, Minnesota score: 103.9 (Near National Average), ranked 616 of 809 Minnesota cities. monitorbankrates.com/housing-affordability-index/minnesota/cannon-falls”