Rent vs buy in Brooklyn Park, MN
In Brooklyn Park, Minnesota, typical rent is $1,558 /mo and the typical home value is $345,292.
Renting comes out ahead by $41k over 7 years
The math runs on a 20% down payment and today's mortgage rate, plus Brooklyn Park's typical rent and its typical home value. Break-even point: year 18.
A clearly labeled opinion with the math shown. These are estimates, not quotes. The stamp changes when you change a number.
- Renting leads by
- $41k after 7 years
- Break-even point
- year 18 when owning catches up
- Actual cost of owning
- $3,106 /mo year 1, against $1,558 rent
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The stamp uses Brooklyn Park's typical market figures for rent and home value. The result can flip based on your rent, price and years.
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Which costs less in Brooklyn Park, renting or buying?
If you count the money returned when you sell, renting costs $40,696 less over 7 years. Renting costs less during the first 17 years. By year 18, owning catches up.
Rent. Buy. Running net cost by year.
Brooklyn Park: average rent vs mortgage payment
At Brooklyn Park's typical price, these are all the monthly costs for year 1. Rent and mortgage payments make up only part of the total.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,558 | All of it, every month |
| Mortgage payment | $1,883 | $1,659 of it is interest in year 1 |
| Property tax | $319 | 1.11% of the value a year |
| Insurance | $134 | Census median for the city |
| Upkeep | $288 | 1% of the value a year |
| Owning, cash out | $2,624 | $223 of it builds equity |
| Lost return on the down payment | $561 | The amount the cash would earn each year at 8.3% |
| Buying costs, spread out | $144 | 3.5% of the price over 7 years |
| True cost of owning | $3,106 | Cash out, minus the equity portion, plus the two lines above |
The Brooklyn Park numbers behind the verdict
- Typical home valueZillow ZHVI, September 2026
- $345,292
- Typical rentZillow ZORI, September 2026
- $1,558 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, Minnesota, 1995 to 2025
- 4.3% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Brooklyn Park
- 1.11% of value
- Home insuranceCensus ACS 2020-2024, Brooklyn Park
- $134 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
Which change would reverse the Brooklyn Park result?
Each line marks where the 7-year verdict for Brooklyn Park changes, while all other inputs stay the same.
When renting wins
- Home prices rise slower than 5.7% a year (4.3% is our number, Minnesota's long-term average).
- The mortgage rate remains above 5.14%.
- For a home like this, monthly rent is below $1,990 (the local typical is $1,558).
- You move out before year 18.
When buying wins
- Home prices rise by more than 5.7% each year.
- A mortgage rate below 5.14% is locked in. Today's rate is 7.24%.
- For that same home, rent would cost more than $1,990 each month.
- You stay for at least 18 years.
Brooklyn Park compared with the other 812 cities
| Measure | Brooklyn Park | Median city |
|---|---|---|
| Typical home value | $345,292 | $422,451 |
| Typical rent | $1,558 /mo | $1,837 /mo |
| Price-to-rent ratio | 18.5 (#406 of 813) | 18.5 |
| Home prices, last 10 years | 4.9% a year | 6.2% a year |
| Rents, last 5 years | 6.1% a year | 4% a year |
| Property tax | 1.11% | 0.87% |
| Households that rent | 30% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Minnesota
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