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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

Howard Lake, MN Housing Affordability Index

Howard Lake, Minnesota has an MBR Housing Affordability Index score of 114.9 (More Affordable Than Average) as of October 30, 2026, ranking 510th most affordable of 809 scored Minnesota cities, compared with 97.5 statewide and 97.4 nationally. On a median-priced $273,600 home with 20% down, the Minnesota average 30-year fixed rate of 7.27% means a monthly principal and interest payment of about $1,496, or 19% of the city’s $92,188 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Howard Lake 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.

Howard Lake MBR-HAI 114.9 More Affordable Than Average
Rank in Minnesota 510 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 $273,600 U.S. Census Bureau

Howard Lake is 17.4 points above the Minnesota score. Scores as of October 30, 2026. See the Minnesota index

View Howard Lake Mortgage Rates

What It Takes to Buy in Howard Lake

$1,496/mo
Principal & Interest
Median home, 20% down, 7.27%
$64,100
Income Needed
To keep the payment at 28% of income
$92,188
Median Household Income
Minnesota: $89,062
3.0x
Price-to-Income Ratio
Minnesota: 3.7x
$1,840/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$3,600/yr
Median Property Tax
1.32% of median value
16.4%
Owner Cost Burden
Owners spending 30%+ of income on housing
21.1%
Renter Cost Burden
Renters spending 30%+ of income on rent

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

Cite the Howard Lake Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Howard Lake, Minnesota score: 114.9 (More Affordable Than Average), ranked 510 of 809 Minnesota cities. monitorbankrates.com/housing-affordability-index/minnesota/howard-lake”