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City · 22,245 residents · Wright County, Minnesota

Otsego , Minnesota

In Otsego, a typical home is worth $396,700 and typical rent is $1,765 a month. Compared with all of Wright County, typical rent is 37% higher, typical household income is 12% higher, and the share of households that own their home is 9 points higher.

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  • Typical home value

    $396,700

    11% above the county

    20% above Minnesota

    • Otsego
    • Wright
    • Minnesota

  • Typical rent

    $1,765a month

    37% above the county

    38% above Minnesota

    • Otsego
    • Wright
    • Minnesota

  • Typical household income

    $119,927a year

    12% above the county

    35% above Minnesota

    • Otsego
    • Wright
    • Minnesota

  • Households that own their home

    93%

    9 points above the county

    20 points above Minnesota

    • Otsego
    • Wright
    • Minnesota

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

Market now, with Zillow data

Zillow data
Typical home value
$431,834
about the same as 12 months ago
Typical rent
$2,349 a month

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

Otsego is in Wright County. The FHA loan limit ($552,000 for a one-unit home), the fair market rents and the help on this page are those of all of Wright County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Otsego apart

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

  1. The typical rent in Otsego is $1,765 a month, 37% more than in Wright County as a whole ($1,288).

  2. Nearby, in Elk River, the typical rent is $1,283: 27% less than in Otsego ($1,765).

  3. Nearby, in Big Lake, the typical home value is $330,200: 17% less than in Otsego ($396,700).

  4. 93% of households in Otsego own their home, against 84% in Wright County.

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

The homes here

Housing in Otsego

What homes there are in Otsego, 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

In Otsego, 8 in 10 homes are single-family detached houses, about the same as in Wright County.

Year built

Homes in Otsego are newer: the typical year built is 2008; in Wright County, 1995.

By size, homes in Otsego look like those in Wright County: 76% have 3 bedrooms or more.

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
Monthly rent with utilities

With a mortgage

$2,287 a month

Wright County: $2,098 a month

Without a mortgage

$694 a month

Wright County: $706 a month

Owners with a mortgage

77%

Wright County: 71%

In Otsego, 77% of owners have a mortgage, and their typical cost is $2,287 a month, against $2,098 in Wright County. Without one it drops to $694.

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 Otsego rose at about the same pace as in Wright County: 52% against 51%.

The typical rent in Otsego rose 30% over the same time; in Wright County, it rose 33%.

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

MeasureOtsegoWright CountyMinnesotaUnited States
Rental vacancy Unreliable estimateUnreliable estimate5.3%5.5%
Homeowner vacancy Unreliable estimate0.5%0.6%0.9%
More than one person per room Unreliable estimate1.5%2.3%3.4%
People per household 2.962.722.432.53
Drive alone 72%75%69%69%
Carpool Unreliable estimate8%8%9%
Public transit Unreliable estimate0%2%3%
Walk or bike Unreliable estimate1%3%3%
Work from home 15%15%18%15%
Other means Unreliable estimate1%1%2%
Typical commute 30 to 39 minutesUnreliable estimate20 to 29 minutes20 to 29 minutes

Households in Otsego are bigger: 2.96 people on average; in Wright County, 2.72.

To get to work, 72% of workers in Otsego drive alone; in Wright County, 75%.

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 Otsego?

A typical home is tight for the typical income

We start with a typical home in Otsego, worth $396,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 33% of the typical household income in Otsego, which is $119,927 a year. For that payment to be 28% of income, a household would need to earn about $141,434 a year.

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

Your numbers

Local data
$

Starts at the typical home value in Otsego. 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 $13,885 (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

$3,300

at 7.18% · 30 years

Loan amount
$389,514
Total interest
$560,420
Paid off in
November 2056

Includes $6,699 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,798 a month

  • Tight

    $2,798 to $3,598 a month

    Your payment · 33%

  • Hard

    more than $3,598 a month

Compared with the typical household income in Otsego ($119,927 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,300
Principal & interest$2,639
Property tax$321
Home insurance$165
FHA mortgage insurance (MIP)$175

You need at least $13,885 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

Otsego and Wright County

Otsego is in Wright 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).

Otsego's own numbers

Typical home value
$396,700
Typical monthly rent
$1,765
Typical yearly household income
$119,927
Households that own their home
93%
Effective property tax rate
0.97%

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

Numbers for all of Wright County

FHA limit, one-unit home
$552,000
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,734
Price change over 5 years (FHFA)
+38%

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 Wright County.

Everything about Wright County

Buying

Buying a home in Otsego

A typical home in Otsego is worth $396,700: 11% above the county and 20% above Minnesota. With the typical household income in Otsego ($119,927 a year), a typical home costs 3.3 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.

  • Otsego 3.3 years
  • Wright 3.3 years
  • Minnesota 3.7 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Wright County

According to FHFA’s house price index, home prices in Wright County rose 77% in the 10 years through 2025.

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

Period County Minnesota U.S.
Last year (2025) +1.8% +2.8% +2.9%
5 years (2020–2025) +38% +37% +47%
10 years (2015–2025) +77% +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

Otsego next to Wright 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
  • Otsego $396,700
  • Wright $358,900
  • Minnesota $329,300
  • United States $332,700
Typical monthly rent
  • Otsego $1,765
  • Wright $1,288
  • Minnesota $1,280
  • United States $1,413
Typical yearly household income
  • Otsego $119,927
  • Wright $107,209
  • Minnesota $89,062
  • United States $80,734
See the full table
Otsego next to Wright County and Minnesota
Measure Otsego Wright County Minnesota U.S.
Typical home value $396,700 $358,900 $329,300 $332,700
Typical monthly rent $1,765 $1,288 $1,280 $1,413
Typical yearly household income $119,927 $107,209 $89,062 $80,734
Households that own their home 93% 84% 72% 65%
Typical yearly property tax $3,847 $3,523 $3,357 $3,119
Effective property tax rate 0.97% 0.98% 1.02% 0.94%
Renters with high rent for their income 59% 41% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Wright 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 Otsego

For a typical $396,700 home in Otsego, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Otsego's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,300a month

    Least cash to close
    Down payment
    $13,885
    Cash to close
    $25,786
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $175

  • Conventional, 5% down $3,227a month

    Down payment
    $19,835
    Cash to close
    $31,736
    Rate
    7.18%
    Mortgage insurance
    PMI · $188

  • Conventional, 20% down, no PMI $2,636a month

    Down payment
    $79,340
    Cash to close
    $91,241
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $3,003a month

    Down payment
    $59,505
    Cash to close
    $71,406
    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 Otsego and for Wright County.

Property tax

Effective rate in Otsego

0.97%of the home’s value each year

$3,847 a year for the typical owner in Otsego.

  • Otsego 0.97%
  • Wright 0.98%
  • 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 Wright County

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

FEMA’s maps count no homes in the high-risk zone in Wright County. That does not mean it cannot flood: check your address.

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Otsego

Typical rent in Otsego is $1,765 a month: 37% above the county. In Otsego, 59% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Wright County, by unit size. To pay the 2-bedroom one ($1,734 a month) without spending more than 30% of your income, you would need to earn $33.35 an hour working full time.

HUD fair market rent for all of Wright 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 $1,265 $24.33 $50,600
1 bedroom $1,427 $27.44 $57,080
2 bedrooms $1,734 $33.35 $69,360
3 bedrooms $2,264 $43.54 $90,560
4 bedrooms $2,538 $48.81 $101,520

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 Otsego

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Otsego has 2 ZIP codes with their own.

For 2 bedrooms it runs from $1,670 in 55330 to $1,700 in 55362.

None is above the fair market rent for Wright County ($1,734).

  • 55330 $1,670$2,180
  • 55362 $1,700$2,220

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Otsego 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?

Free help

Help to buy or rent in Otsego

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 Wright County. The nearest ones are below; many serve by phone or online.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Otsego

No down payment, repair or rent-help program on our list is for Otsego or Wright County. The ones below are statewide in Minnesota: they work in Otsego 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 Otsego

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

  • Community Action Partnership of Hennepin County

    7101 Northland Cir N, Brooklyn Park · 17 miles away

    • Pre-purchase counseling
    • Homebuyer education workshops
    (952) 697-1303

  • Capi USA

    5930 Brooklyn Blvd, Brooklyn Center · 20 miles away · Spanish

    Also serves in Hmong.

    • Budget and financial counseling
    • Budget and credit workshops
    • and 3 more
    (612) 721-0122

  • NSC (naca Counseling Subsidiary) - Minneapolis, MN

    6300 Shingle Creek Pkwy Ste 145, Brooklyn Center · 20 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (763) 656-6222

All counseling agencies in Minnesota

Help in Spanish near Otsego

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 Otsego

In HUD’s record, no housing authority with an office in Wright County is named for Otsego or Wright County.

One other authority has an office in Wright County: see the list Source: HUD

Cities

Other cities in Wright County

These cities are also in Wright County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Wright County Housing in Minnesota

Nearby cities

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

Neighboring counties

If Wright 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 Otsego.

All guides
A father and mother walk their son by the hand down the sidewalk.

Questions

Housing questions about Otsego

Short answers with the numbers for Otsego and all of Wright 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 Otsego?

The typical home value in Otsego is $396,700, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Wright County it is $358,900.

How much does it cost to rent in Otsego?

Typical rent in Otsego is $1,765 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Wright County is $1,734.

What is the FHA loan limit in Otsego?

Otsego uses the FHA limit for all of Wright County (2026): $552,000 for a one-unit home and $1,061,550 for a four-unit home.

How much property tax do owners pay in Otsego?

The typical homeowner in Otsego pays $3,847 a year, according to the U.S. Census Bureau. That is 0.97% of the home’s value; in Wright County, the rate is 0.98%.

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

We found no HUD-approved counseling agencies with an office in Wright 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).