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City · 13,434 residents · Carver County, Minnesota

Waconia , Minnesota

In Waconia, a typical home is worth $431,000 and typical rent is $1,330 a month. Compared with all of Carver County, typical rent is 12% lower and typical household income is 12% lower.

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  • Typical home value

    $431,000

    5% below the county

    31% above Minnesota

    • Waconia
    • Carver
    • Minnesota

  • Typical rent

    $1,330a month

    12% below the county

    4% above Minnesota

    • Waconia
    • Carver
    • Minnesota

  • Typical household income

    $111,031a year

    12% below the county

    25% above Minnesota

    • Waconia
    • Carver
    • Minnesota

  • Households that own their home

    80%

    1 points below the county

    8 points above Minnesota

    • Waconia
    • Carver
    • Minnesota

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

Market now, with Zillow data

Zillow data
Typical home value
$464,369
2.7% more than 12 months ago
Typical rent
$1,860 a month

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

Waconia is in Carver 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 Carver County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Waconia apart

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

  1. Nearby, in Mound, the typical rent is $1,098: 17% less than in Waconia ($1,330).

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

The homes here

Housing in Waconia

What homes there are in Waconia, 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 the most common home in Waconia: 71% of homes, near the figure in Carver County (72%).

Year built

Here half of the homes date from 2001 or later; in Carver County, from 1996 or later.

By size, homes in Waconia look like those in Carver County: 74% 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

$2,438 a month

Carver County: $2,504 a month

Without a mortgage

$803 a month

Carver County: $841 a month

Owners with a mortgage

78%

Carver County: 71%

Owning costs about the same in Waconia as in Carver County: with a mortgage, $2,438 a month; without one, $803.

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

The typical home value in Waconia rose 42% since 2015–2019, about the same as in Carver County (45%).

Rents in Waconia rose faster than in Carver County: 38% since 2015–2019, against 32%.

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

MeasureWaconiaCarver 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 estimate1.1%2.3%3.4%
People per household 2.572.652.432.53
Drive alone 75%68%69%69%
Carpool Unreliable estimate6%8%9%
Public transit Unreliable estimate1%2%3%
Walk or bike Unreliable estimate1%3%3%
Work from home 20%24%18%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

Much as in Carver County, a household in Waconia has 2.57 people on average.

To get to work, 75% of workers in Waconia drive alone; in Carver County, 68%.

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 Waconia?

A typical home costs more than the typical income allows

We start with a typical home in Waconia, worth $431,000, 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 Waconia, which is $111,031 a year. For that payment to be 28% of income, a household would need to earn about $154,432 a year.

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

Your numbers

Local data
$

Starts at the typical home value in Waconia. 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 $15,085 (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

$3,603

at 7.18% · 30 years

Loan amount
$423,194
Total interest
$608,876
Paid off in
November 2056

Includes $7,279 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,591 a month

  • Tight

    $2,591 to $3,331 a month

  • Hard

    more than $3,331 a month

    Your payment · 39%

Compared with the typical household income in Waconia ($111,031 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,603
Principal & interest$2,867
Property tax$366
Home insurance$180
FHA mortgage insurance (MIP)$191

You need at least $15,085 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

Waconia and Carver County

Waconia is in Carver 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).

Waconia's own numbers

Typical home value
$431,000
Typical monthly rent
$1,330
Typical yearly household income
$111,031
Households that own their home
80%
Effective property tax rate
1.02%

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

Numbers for all of Carver 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)
+36%
Homes in a high flood-risk zone
0.3%

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 Carver County.

Everything about Carver County

Buying

Buying a home in Waconia

A typical home in Waconia is worth $431,000: 5% below the county and 31% above Minnesota. With the typical household income in Waconia ($111,031 a year), a typical home costs 3.9 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.

  • Waconia 3.9 years
  • Carver 3.6 years
  • Minnesota 3.7 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Carver County

According to FHFA’s house price index, home prices in Carver County rose 66% in the 10 years through 2025.

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

Period County Minnesota U.S.
Last year (2025) +3.8% +2.8% +2.9%
5 years (2020–2025) +36% +37% +47%
10 years (2015–2025) +66% +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

Waconia next to Carver 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
  • Waconia $431,000
  • Carver $453,600
  • Minnesota $329,300
  • United States $332,700
Typical monthly rent
  • Waconia $1,330
  • Carver $1,514
  • Minnesota $1,280
  • United States $1,413
Typical yearly household income
  • Waconia $111,031
  • Carver $125,946
  • Minnesota $89,062
  • United States $80,734
See the full table
Waconia next to Carver County and Minnesota
Measure Waconia Carver County Minnesota U.S.
Typical home value $431,000 $453,600 $329,300 $332,700
Typical monthly rent $1,330 $1,514 $1,280 $1,413
Typical yearly household income $111,031 $125,946 $89,062 $80,734
Households that own their home 80% 81% 72% 65%
Typical yearly property tax $4,392 $4,501 $3,357 $3,119
Effective property tax rate 1.02% 0.99% 1.02% 0.94%
Renters with high rent for their income 44% 43% 48% 51%

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

For a typical $431,000 home in Waconia, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Waconia's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,603a month

    Least cash to close
    Down payment
    $15,085
    Cash to close
    $28,015
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $191

  • Conventional, 5% down $3,524a month

    Down payment
    $21,550
    Cash to close
    $34,480
    Rate
    7.18%
    Mortgage insurance
    PMI · $205

  • Conventional, 20% down, no PMI $2,882a month

    Down payment
    $86,200
    Cash to close
    $99,130
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $3,280a month

    Down payment
    $64,650
    Cash to close
    $77,580
    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 Waconia and for Carver County.

Property tax

Effective rate in Waconia

1.02%of the home’s value each year

$4,392 a year for the typical owner in Waconia.

  • Waconia 1.02%
  • Carver 0.99%
  • 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 Carver County

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

Homes in the high-risk zone
0.3%
124
Of those, with NFIP insurance
21%
County Minnesota U.S.
Homes in the high-risk zone 0.3% 0.7% 3.5%
Of those, with NFIP insurance 21% 17% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Waconia

Typical rent in Waconia is $1,330 a month: 12% below the county. In Waconia, 44% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Carver 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 Carver 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 Waconia

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Waconia is in ZIP code 55387.

For 2 bedrooms it is $1,670: $64 less than the fair market rent for Carver County ($1,734).

  • 55387 $1,670$2,180

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

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

  • Interlaken Place 925 Airport Rd, Waconia 55387 48 low-income homes · 2 bd: 26 · 3 bd: 22 · In service since 2009 · For families
  • Evergreen Apts. -- Waconia, MN 100 W 3rd St, Waconia 55387 46 low-income homes · For older adults (952) 442-5276

See all 19 buildings in Carver County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Waconia

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

An older woman smiles in front of her apartment building.

HUD counseling is free or low-cost

Assistance programs in Waconia

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

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

  • Scott County Community Development Agency

    100 5th Ave E, Shakopee · 13 miles away · Spanish

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

  • Community Action Partnership of Hennepin County

    7101 Northland Cir N, Brooklyn Park · 26 miles away

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

  • Build Wealth Minnesota, Inc

    2121 Plymouth Ave N, Minneapolis · 26 miles away · Spanish

    Also serves in Cambodian and French.

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 9 more
    (612) 877-4182

All counseling agencies in Minnesota

Help in Spanish near Waconia

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 Waconia

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

All housing agencies in Minnesota Source: HUD

Cities

Other cities in Carver County

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

Everything about Carver County Housing in Minnesota

Nearby cities

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

Neighboring counties

If Carver 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 Waconia.

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

Questions

Housing questions about Waconia

Short answers with the numbers for Waconia and all of Carver 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 Waconia?

The typical home value in Waconia is $431,000, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Carver County it is $453,600.

How much does it cost to rent in Waconia?

Typical rent in Waconia is $1,330 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Carver County is $1,734.

What is the FHA loan limit in Waconia?

Waconia uses the FHA limit for all of Carver 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 Waconia?

The typical homeowner in Waconia pays $4,392 a year, according to the U.S. Census Bureau. That is 1.02% of the home’s value; in Carver County, the rate is 0.99%.

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

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