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City · 26,358 residents · Mower County, Minnesota

Austin , Minnesota

In Austin, a typical home is worth $163,900 and typical rent is $953 a month. Compared with all of Mower County, the typical home value is 12% lower, typical household income is 7% lower, and the share of households that own their home is 6 points lower.

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  • Typical home value

    $163,900

    12% below the county

    50% below Minnesota

    • Austin
    • Mower
    • Minnesota

  • Typical rent

    $953a month

    3% above the county

    26% below Minnesota

    • Austin
    • Mower
    • Minnesota

  • Typical household income

    $68,057a year

    7% below the county

    24% below Minnesota

    • Austin
    • Mower
    • Minnesota

  • Households that own their home

    72%

    6 points below the county

    1 points below Minnesota

    • Austin
    • Mower
    • Minnesota

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$187,648
2.9% more than 12 months ago
Typical rent
$1,161 a month
9.2% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Austin is in Mower County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Mower County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Austin apart

What this place has that others do not, from public data, most unusual first.

  1. Austin has the 7th lowest typical home value of the 152 cities in Minnesota with more than 5,000 people ($163,900).

  2. 72% of households in Austin own their home, against 78% in Mower County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Austin

What homes there are in Austin, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is still the most common home in Austin, but it weighs less than in Mower County: 73% against 79%.

Year built

In Austin, half of the homes were built before 1957; in Mower County, before 1958.

There are fewer big homes in Austin than in Mower County: 58% have 3 bedrooms or more, against 64%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

About 97% of owner-occupied homes in Austin are worth less than the FHA loan limit for Mower County ($541,287).

Monthly rent with utilities

With a mortgage

$1,292 a month

Mower County: $1,381 a month

Without a mortgage

$530 a month

Mower County: $576 a month

Owners with a mortgage

63%

Mower County: 60%

In Austin, 63% of owners have a mortgage, and their typical cost is $1,292 a month, against $1,381 in Mower County. Without one it drops to $530.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, home values in Austin rose at about the same pace as in Mower County: 52% against 50%.

The typical rent in Austin rose 29% since 2015–2019, about the same as in Mower County (30%).

While home values in Austin changed +52% and rent +29%, the typical household income rose 41%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureAustinMower CountyMinnesotaUnited States
Rental vacancy 8.8%9.0%5.3%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.6%0.9%
More than one person per room 4.3%3.1%2.3%3.4%
People per household 2.542.522.432.53
Drive alone 75%76%69%69%
Carpool 14%11%8%9%
Public transit 2%1%2%3%
Walk or bike 3%3%3%3%
Work from home 5%7%18%15%
Other means Unreliable estimate1%1%2%
Typical commute 10 to 19 minutes10 to 19 minutes20 to 29 minutes20 to 29 minutes

Much as in Mower County, the rental vacancy rate in Austin is 8.8%.

More than one person per room: that is how 4.3% of households in Austin live, more than in Mower County (3.1%).

By size, households in Austin look like those in Mower County: 2.54 people on average.

In Austin, 75% of workers drive alone to work; in Mower County, 76%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Austin?

A typical home is within reach of the typical income

We start with a typical home in Austin, worth $163,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 24% of the typical household income in Austin, which is $68,057 a year.

The calculator's FHA and conventional loan limits are those of all of Mower County.

Your numbers

Local data
$

Starts at the typical home value in Austin. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $5,737 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,373

at 7.18% · 30 years

Loan amount
$160,931
Total interest
$231,542
Paid off in
November 2056

Includes $2,768 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,588 a month

    Your payment · 24%

  • Tight

    $1,588 to $2,042 a month

  • Hard

    more than $2,042 a month

Compared with the typical household income in Austin ($68,057 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,373
Principal & interest$1,090
Property tax$142
Home insurance$68
FHA mortgage insurance (MIP)$72

You need at least $5,737 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Austin and Mower County

Austin is in Mower County, Minnesota. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Austin's own numbers

Typical home value
$163,900
Typical monthly rent
$953
Typical yearly household income
$68,057
Households that own their home
72%
Effective property tax rate
1.04%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Mower County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,080
Price change over 5 years (FHFA)
+52%
Homes in a high flood-risk zone
1.2%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Mower County.

Everything about Mower County

Buying

Buying a home in Austin

A typical home in Austin is worth $163,900: 12% below the county and 50% below Minnesota. With the typical household income in Austin ($68,057 a year), a typical home costs 2.4 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Austin 2.4 years
  • Mower 2.5 years
  • Minnesota 3.7 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Mower County

According to FHFA’s house price index, home prices in Mower County rose 89% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Mower County.

Period County Minnesota U.S.
Last year (2025) +7.5% +2.8% +2.9%
5 years (2020–2025) +52% +37% +47%
10 years (2015–2025) +89% +71% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Austin next to Mower County, Minnesota and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Austin $163,900
  • Mower $185,200
  • Minnesota $329,300
  • United States $332,700
Typical monthly rent
  • Austin $953
  • Mower $927
  • Minnesota $1,280
  • United States $1,413
Typical yearly household income
  • Austin $68,057
  • Mower $73,074
  • Minnesota $89,062
  • United States $80,734
See the full table
Austin next to Mower County and Minnesota
Measure Austin Mower County Minnesota U.S.
Typical home value $163,900 $185,200 $329,300 $332,700
Typical monthly rent $953 $927 $1,280 $1,413
Typical yearly household income $68,057 $73,074 $89,062 $80,734
Households that own their home 72% 78% 72% 65%
Typical yearly property tax $1,698 $1,907 $3,357 $3,119
Effective property tax rate 1.04% 1.03% 1.02% 0.94%
Renters with high rent for their income 44% 44% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Mower County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Austin

For a typical $163,900 home in Austin, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Austin's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,373a month

    Least cash to close
    Down payment
    $5,737
    Cash to close
    $10,654
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $72

  • Conventional, 5% down $1,343a month

    Down payment
    $8,195
    Cash to close
    $13,112
    Rate
    7.18%
    Mortgage insurance
    PMI · $78

  • Conventional, 20% down, no PMI $1,099a month

    Down payment
    $32,780
    Cash to close
    $37,697
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,250a month

    Down payment
    $24,585
    Cash to close
    $29,502
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Austin and for Mower County.

Property tax

Effective rate in Austin

1.04%of the home’s value each year

$1,698 a year for the typical owner in Austin.

  • Austin 1.04%
  • Mower 1.03%
  • Minnesota 1.02%

What Minnesota publishes Homestead market value exclusion (Minnesota Office of the Revisor of Statutes (Minnesota Statutes))

Exemptions and deadlines in Minnesota

Flood risk in Mower County

FEMA does not publish these numbers by city: they are for all of Mower County.

Homes in the high-risk zone
1.2%
253
Of those, with NFIP insurance
17%
County Minnesota U.S.
Homes in the high-risk zone 1.2% 0.7% 3.5%
Of those, with NFIP insurance 17% 17% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Austin

Typical rent in Austin is $953 a month: 3% above the county. In Austin, 44% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Mower County, by unit size. To pay the 2-bedroom one ($1,080 a month) without spending more than 30% of your income, you would need to earn $20.77 an hour working full time.

HUD fair market rent for all of Mower County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $752 $14.46 $30,080
1 bedroom $826 $15.88 $33,040
2 bedrooms $1,080 $20.77 $43,200
3 bedrooms $1,440 $27.69 $57,600
4 bedrooms $1,445 $27.79 $57,800

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Austin

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Austin is in ZIP code 55912.

For 2 bedrooms it is $1,100: $20 more than the fair market rent for Mower County ($1,080).

  • 55912 $1,100$1,470

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Austin when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Austin

HUD lists 11 buildings with rents for lower incomes in Austin. These are the largest.

  • Twin Towers 200 1st Ave NE, Austin 55912 205 low-income homes · Run by Housing & Redevelopment Authority of Austin · Average payment: $357 a month · Average wait: 60 months · Homes at several sites (507) 433-1866
  • Pickett Place 808 1st Dr NW, Austin 55912 100 low-income homes · Run by Housing & Redevelopment Authority of Austin · Average payment: $476 a month · Average wait: 33 months (507) 433-1866
  • Mandolin Place Apartments Multiple Building Addresses, Austin 55912 72 homes, 71 low-income · 1 bd: 12 · 2 bd: 39 · 3 bd: 21 · In service since 1994
  • Bremerton Townhomes 300 27th St SW, Austin 55912 60 low-income homes · For families (507) 437-6501
  • Meadows West (fka Bremerton) Multiple Building Addresses, Austin 55912 60 low-income homes · In service since 2012

See all 14 buildings in Mower County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Austin

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Mower County. The nearest ones are below; many serve by phone or online.

A man listens closely, seated at a meeting table.

HUD counseling is free or low-cost

Assistance programs in Austin

No down payment, repair or rent-help program on our list is for Austin or Mower County. The ones below are statewide in Minnesota: they work in Austin the same as in the rest of the state.

Which programs do I qualify for? All programs in Minnesota

  • Deferred Payment Loan (Start Up)

    Statewide in Minnesota

    Minnesota state agency loan for the down payment and closing costs alongside the Start Up mortgage for first-time buyers: up to $14,000 (or $18,000 in the Plus version), with no interest or monthly payments, repaid at the end of the mortgage. Offered by Minnesota Housing (Minnesota Housing Finance Agency).

    Deferred

    See the program Official page

  • Monthly Payment Loan

    Statewide in Minnesota

    Minnesota Housing loan of up to $14,000 for the down payment and closing costs, which you repay over 15 years at the same rate as your Minnesota Housing mortgage; it works with Start Up (first-time buyers) or Step Up. Offered by Minnesota Housing (Minnesota Housing Finance Agency).

    Repayable

    See the program Official page

Housing counselors near Austin

The HUD-approved agencies closest to the center of Austin, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Three Rivers Community Action, Inc.

    1414 Northstar Dr, Zumbrota · 46 miles away · Spanish

    Also serves in other languages.

    • Pre-purchase counseling
    • Homebuyer education workshops
    (507) 696-4025

  • Southwest Minnesota Housing Partnership Mankato Branch

    140 Homestead Rd, Mankato · 60 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (507) 836-1605

  • Lutheran Social Service of Minnesota

    710 South 2nd Street, Mankato · 61 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 2 more
    (218) 529-2227

All counseling agencies in Minnesota

Help in Spanish near Austin

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Austin

HUD’s record names them for Austin or Mower County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing & Redevelopment Authority of Austin Public housing and Section 8 vouchers (507) 433-1866
  • Mower County Hra Public housing and Section 8 vouchers (507) 434-5558

All housing agencies in Minnesota Source: HUD

Cities

Nearby cities

The cities closest to Austin, with the typical home value.

Everything about Mower County Housing in Minnesota

Neighboring counties

If Mower County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Austin.

All guides
Three generations of a family gather on the porch of their home.

Questions

Housing questions about Austin

Short answers with the numbers for Austin and all of Mower County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Austin?

The typical home value in Austin is $163,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Mower County it is $185,200.

How much does it cost to rent in Austin?

Typical rent in Austin is $953 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Mower County is $1,080.

What is the FHA loan limit in Austin?

Austin uses the FHA limit for all of Mower County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Austin?

The typical homeowner in Austin pays $1,698 a year, according to the U.S. Census Bureau. That is 1.04% of the home’s value; in Mower County, the rate is 1.03%.

Where can I find free help to buy or rent in Austin?

We found no HUD-approved counseling agencies with an office in Mower County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).