Rent vs buy in Eagan, MN
In Eagan, Minnesota, typical rent is $1,679 /mo and a typical home costs $398,150.
Renting comes out ahead by $52k over 7 years
Today's mortgage rate and a 20% down payment, at Eagan's typical rent and typical home value. Break-even point: year 21.
Clearly labeled opinion, with the math shown. These are estimates, not quotes. The stamp changes when you change a number.
- Amount renting is ahead by
- $52k after 7 years
- Costs become equal
- 21st year when owning catches up
- Actual cost of ownership
- $3,513 /mo year 1, against $1,679 rent
Change my numbers
Eagan's typical rent and home value are used for the stamp. The result can change with your rent, your price and your years.
Do your numbers differ from the city's?
Enter the rent, price and down payment you want. The stamp changes to match.
In Eagan, which option costs less, renting or buying?
Over 7 years, renting costs $51,580 less, including the money you get back when you sell. For the first 20 years, renting costs less. In year 21, owning catches up.
Rent. Own. Net cost by year so far.
Average rent compared with mortgage payments in Eagan
For year 1, every monthly cost at Eagan's typical price is listed here. Rent and the mortgage don't tell the whole story.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,679 | All of it, every month |
| Mortgage payment | $2,171 | $1,913 of it is interest in year 1 |
| Property tax | $319 | 0.96% of the value a year |
| Insurance | $136 | Census median for the city |
| Upkeep | $332 | 1% of the value a year |
| Owning, cash out | $2,957 | $257 of it builds equity |
| Lost return on the down payment | $647 | Annual return on the cash at 8.3% |
| Buying costs, spread out | $166 | 3.5% of the price over 7 years |
| True cost of owning | $3,513 | Subtract the equity part from cash out, then add the two lines above. |
What the numbers show about Eagan's verdict
- Typical home valueZillow ZHVI, September 2026
- $398,150
- Typical rentZillow ZORI, September 2026
- $1,679 /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, Eagan
- 0.96% of value
- Home insuranceCensus ACS 2020-2024, Eagan
- $136 /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
In Eagan, what would flip the result?
Each line marks where Eagan's 7-year verdict flips, with everything else held as it is.
Renting is cheaper when
- Home prices rise more slowly than 5.8% a year; the model applies 4.3%, Minnesota's rate over the long run.
- The mortgage rate remains above 4.93%.
- A home like this costs less than $2,230 a month to rent, compared with the typical $1,679 here.
- Your move happens before year 21.
Buying is cheaper when
- Home prices increase by more than 5.8% each year.
- You secure a mortgage rate under 4.93% (today's is 7.24%).
- For the same home, you'd pay more than $2,230 a month to rent.
- You remain there for 21 years or more.
How Eagan compares with the other 812 cities
| Measure | Eagan | Median city |
|---|---|---|
| Typical home value | $398,150 | $422,451 |
| Typical rent | $1,679 /mo | $1,837 /mo |
| Price-to-rent ratio | 19.8 (#341 of 813) | 18.5 |
| Home prices, last 10 years | 4.4% a year | 6.2% a year |
| Rents, last 5 years | 3.2% a year | 4% a year |
| Property tax | 0.96% | 0.87% |
| Households that rent | 32% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More Minnesota cities
- Rent wins in Minneapolis, MN by $17k.
- Renting comes out ahead by $21k in St. Paul, MN.
- In Rochester, MN, renting wins by $32k.
- Rent beats buying in Bloomington, MN by $35k.
- By $28k, renting is ahead in Duluth, MN.
- Rent leads by $41k in Brooklyn Park, MN.
- In Woodbury, MN, rent is ahead by $37k.
- Renting wins by $88k in Plymouth, MN.
- Renting comes out ahead in Lakeville, MN: $58k.
- Rent wins by $6k in Blaine, MN.
- In Maple Grove, MN, the rent side leads by $20k.
- Rent comes out ahead by $22k in St. Cloud, MN.