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City · 12,185 residents · Nicollet County, Minnesota

St. Peter , Minnesota

In St. Peter, a typical home is worth $250,700 and typical rent is $961 a month. Compared with all of Nicollet County, typical household income is 18% lower, the typical home value is 7% lower, and the share of households that own their home is 7 points lower.

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  • Typical home value

    $250,700

    7% below the county

    24% below Minnesota

    • St. Peter
    • Nicollet
    • Minnesota

  • Typical rent

    $961a month

    About the same as the county

    25% below Minnesota

    • St. Peter
    • Nicollet
    • Minnesota

  • Typical household income

    $65,122a year

    18% below the county

    27% below Minnesota

    • St. Peter
    • Nicollet
    • Minnesota

  • Households that own their home

    65%

    7 points below the county

    7 points below Minnesota

    • St. Peter
    • Nicollet
    • Minnesota

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

Market now, with Zillow data

Zillow data
Typical home value
$298,007
2.5% more than 12 months ago

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

St. Peter is in Nicollet 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 Nicollet County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets St. Peter apart

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

  1. Nearby, in New Ulm, the typical home value is $204,200: 19% less than in St. Peter ($250,700).

  2. The typical household income in St. Peter is $65,122, 18% less than in Nicollet County as a whole ($79,756).

  3. 65% of households in St. Peter own their home, against 72% in Nicollet County.

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

The homes here

Housing in St. Peter

What homes there are in St. Peter, 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 St. Peter, but it weighs less than in Nicollet County: 60% against 69%.

Year built

In St. Peter, half of the homes were built before 1978; in Nicollet County, before 1979.

Homes in St. Peter are smaller: 54% have 3 bedrooms or more; in Nicollet County, 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

The FHA limit for Nicollet County is high ($541,287): at least 92% of owner-occupied homes in St. Peter are worth less than $500,000.

Monthly rent with utilities

With a mortgage

$1,593 a month

Nicollet County: $1,707 a month

Without a mortgage

$651 a month

Nicollet County: $691 a month

Owners with a mortgage

61%

Nicollet County: 62%

Owning costs less in St. Peter: with a mortgage, the typical cost is $1,593 a month; in Nicollet County, $1,707. Without one, $651.

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, the typical home value in St. Peter rose 47%; in Nicollet County, it rose 41%.

Since 2015–2019, the typical rent in St. Peter rose 12%, less than in Nicollet County (16%).

The typical household income in St. Peter rose 17% over that time; home values changed +47% and rent +12%.

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

MeasureSt. PeterNicollet CountyMinnesotaUnited States
Rental vacancy Unreliable estimateUnreliable estimate5.3%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.6%0.9%
More than one person per room Unreliable estimate2.3%2.3%3.4%
People per household 2.252.402.432.53
Drive alone 56%70%69%69%
Carpool 9%8%8%9%
Public transit Unreliable estimateUnreliable estimate2%3%
Walk or bike 14%7%3%3%
Work from home 19%13%18%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute 10 to 19 minutes10 to 19 minutes20 to 29 minutes20 to 29 minutes

On average, a household in St. Peter has 2.25 people, fewer than in Nicollet County (2.40).

In St. Peter, 14% of workers walk or bike to work; in Nicollet County, 7%.

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 St. Peter?

A typical home costs more than the typical income allows

We start with a typical home in St. Peter, worth $250,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 39% of the typical household income in St. Peter, which is $65,122 a year. For that payment to be 28% of income, a household would need to earn about $91,172 a year.

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

Your numbers

Local data
$

Starts at the typical home value in St. Peter. 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 $8,775 (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

$2,127

at 7.18% · 30 years

Loan amount
$246,159
Total interest
$354,165
Paid off in
November 2056

Includes $4,234 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,520 a month

  • Tight

    $1,520 to $1,954 a month

  • Hard

    more than $1,954 a month

    Your payment · 39%

Compared with the typical household income in St. Peter ($65,122 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,127
Principal & interest$1,668
Property tax$244
Home insurance$105
FHA mortgage insurance (MIP)$111

You need at least $8,775 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

St. Peter and Nicollet County

St. Peter is in Nicollet 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).

St. Peter's own numbers

Typical home value
$250,700
Typical monthly rent
$961
Typical yearly household income
$65,122
Households that own their home
65%
Effective property tax rate
1.17%

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

Numbers for all of Nicollet County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,230
Price change over 5 years (FHFA)
+39%

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 Nicollet County.

Everything about Nicollet County

Buying

Buying a home in St. Peter

A typical home in St. Peter is worth $250,700: 7% below the county and 24% below Minnesota. With the typical household income in St. Peter ($65,122 a year), a typical home costs 3.8 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.

  • St. Peter 3.8 years
  • Nicollet 3.4 years
  • Minnesota 3.7 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Nicollet County

According to FHFA’s house price index, home prices in Nicollet County rose 64% in the 10 years through 2025.

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

Period County Minnesota U.S.
Last year (2025) +3.3% +2.8% +2.9%
5 years (2020–2025) +39% +37% +47%
10 years (2015–2025) +64% +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

St. Peter next to Nicollet 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
  • St. Peter $250,700
  • Nicollet $270,300
  • Minnesota $329,300
  • United States $332,700
Typical monthly rent
  • St. Peter $961
  • Nicollet $970
  • Minnesota $1,280
  • United States $1,413
Typical yearly household income
  • St. Peter $65,122
  • Nicollet $79,756
  • Minnesota $89,062
  • United States $80,734
See the full table
St. Peter next to Nicollet County and Minnesota
Measure St. Peter Nicollet County Minnesota U.S.
Typical home value $250,700 $270,300 $329,300 $332,700
Typical monthly rent $961 $970 $1,280 $1,413
Typical yearly household income $65,122 $79,756 $89,062 $80,734
Households that own their home 65% 72% 72% 65%
Typical yearly property tax $2,942 $3,046 $3,357 $3,119
Effective property tax rate 1.17% 1.13% 1.02% 0.94%
Renters with high rent for their income 54% 40% 48% 51%

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

For a typical $250,700 home in St. Peter, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, St. Peter's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,127a month

    Least cash to close
    Down payment
    $8,775
    Cash to close
    $16,296
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $111

  • Conventional, 5% down $2,081a month

    Down payment
    $12,535
    Cash to close
    $20,056
    Rate
    7.18%
    Mortgage insurance
    PMI · $119

  • Conventional, 20% down, no PMI $1,708a month

    Down payment
    $50,140
    Cash to close
    $57,661
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,939a month

    Down payment
    $37,605
    Cash to close
    $45,126
    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 St. Peter and for Nicollet County.

Property tax

Effective rate in St. Peter

1.17%of the home’s value each year

$2,942 a year for the typical owner in St. Peter.

  • St. Peter 1.17%
  • Nicollet 1.13%
  • 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 Nicollet County

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

FEMA’s maps count no homes in the high-risk zone in Nicollet 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 St. Peter

Typical rent in St. Peter is $961 a month: about the same as the county. In St. Peter, 54% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Nicollet County, by unit size. To pay the 2-bedroom one ($1,230 a month) without spending more than 30% of your income, you would need to earn $23.65 an hour working full time.

HUD fair market rent for all of Nicollet 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 $1,016 $19.54 $40,640
1 bedroom $1,023 $19.67 $40,920
2 bedrooms $1,230 $23.65 $49,200
3 bedrooms $1,703 $32.75 $68,120
4 bedrooms $1,744 $33.54 $69,760

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 St. Peter

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). St. Peter is in ZIP code 56082.

For 2 bedrooms it is $1,120: $110 less than the fair market rent for Nicollet County ($1,230).

  • 56082 $1,120$1,550

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for St. Peter 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 St. Peter

HUD lists 2 buildings with rents for lower incomes in St. Peter. These are the largest.

  • Park View Apartments 1010 S 4th St, St Peter 56082 71 homes, 62 low-income · Run by HRA of ST. PETER, MINNESOTA · Average payment: $446 a month · Average wait: 5 months (507) 931-2236
  • Solae Apartments 2005 Sunrise Dr, St Peter 56082 30 homes, 29 low-income · 1 bd: 6 · 2 bd: 16 · 3 bd: 8 · In service since 2018 · For people experiencing homelessness

See all 10 buildings in Nicollet County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in St. Peter

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

A pregnant woman reads paperwork on the sofa while the grandmother plays with the girl on the floor.

HUD counseling is free or low-cost

Assistance programs in St. Peter

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

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

  • Lutheran Social Service of Minnesota

    710 South 2nd Street, Mankato · 12 miles away

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

  • Southwest Minnesota Housing Partnership Mankato Branch

    140 Homestead Rd, Mankato · 12 miles away · Spanish

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

  • Scott County Community Development Agency

    100 5th Ave E, Shakopee · 39 miles away · Spanish

    • Mortgage delinquency and default
    • Pre-purchase counseling
    • and 1 more
    (952) 402-9022

All counseling agencies in Minnesota

Help in Spanish near St. Peter

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 St. Peter

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

2 other authorities have an office in Nicollet County: see the list Source: HUD

Cities

Other cities in Nicollet County

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

Everything about Nicollet County Housing in Minnesota

Nearby cities

The cities closest to St. Peter, with the typical home value.

Neighboring counties

If Nicollet 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 St. Peter.

All guides
A family roasts marshmallows over a campfire at a forest campsite.

Questions

Housing questions about St. Peter

Short answers with the numbers for St. Peter and all of Nicollet 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 St. Peter?

The typical home value in St. Peter is $250,700, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Nicollet County it is $270,300.

How much does it cost to rent in St. Peter?

Typical rent in St. Peter is $961 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Nicollet County is $1,230.

What is the FHA loan limit in St. Peter?

St. Peter uses the FHA limit for all of Nicollet 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 St. Peter?

The typical homeowner in St. Peter pays $2,942 a year, according to the U.S. Census Bureau. That is 1.17% of the home’s value; in Nicollet County, the rate is 1.13%.

Where can I find free help to buy or rent in St. Peter?

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