MonitorBankRates
☰
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

Grand Marais, MN Housing Affordability Index

Grand Marais, Minnesota has an MBR Housing Affordability Index score of 91.9 (Near National Average) as of October 30, 2026, ranking 737th most affordable of 809 scored Minnesota cities, compared with 97.5 statewide and 97.4 nationally. On a median-priced $310,500 home with 20% down, the Minnesota average 30-year fixed rate of 7.27% means a monthly principal and interest payment of about $1,697, or 29% of the city’s $70,583 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Grand Marais 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.

Grand Marais MBR-HAI 91.9 Near National Average
Rank in Minnesota 737 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 $310,500 U.S. Census Bureau

Grand Marais is 5.5 points below the Minnesota score. Scores as of October 30, 2026. See the Minnesota index

View Grand Marais Mortgage Rates

What It Takes to Buy in Grand Marais

$1,697/mo
Principal & Interest
Median home, 20% down, 7.27%
$72,700
Income Needed
To keep the payment at 28% of income
$70,583
Median Household Income
Minnesota: $89,062
4.4x
Price-to-Income Ratio
Minnesota: 3.7x
$1,260/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$2,164/yr
Median Property Tax
0.70% of median value
32.6%
Owner Cost Burden
Owners spending 30%+ of income on housing
40.1%
Renter Cost Burden
Renters spending 30%+ of income on rent

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

Cite the Grand Marais Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Grand Marais, Minnesota score: 91.9 (Near National Average), ranked 737 of 809 Minnesota cities. monitorbankrates.com/housing-affordability-index/minnesota/grand-marais”