Rent vs buy in Eden Prairie, MN
In Eden Prairie, Minnesota, the typical rent is $1,837 /mo and the typical home is $499,728.
Over 7 years, renting wins by $94k
Today's mortgage rate and 20% down, at Eden Prairie's typical rent and typical home value. Break-even: no point within 30 years.
An opinion, clearly marked, with the math shown. These are estimates, not quotes. Change one number and the stamp shifts.
- Renting leads by
- $94k after 7 years
- Break-even point
- 30 years or more owning never catches up sooner
- What owning really costs
- $4,448 /mo year 1, against $1,837 rent
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Is renting or buying cheaper in Eden Prairie?
Over 7 years, renting costs less by $93,921, counting the money you get back when you sell. Every year shown has renting's net cost under owning's, and owning still doesn't catch up in 30 years.
Rent. Buying. Net cost to date, per year.
Average rent compared with mortgage payment in Eden Prairie
Rent and the mortgage don't tell the whole story, so here are all monthly costs for year 1, using Eden Prairie's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,837 | All of it, every month |
| Mortgage payment | $2,725 | $2,401 of it is interest in year 1 |
| Property tax | $454 | 1.09% of the value a year |
| Insurance | $156 | Census median for the city |
| Upkeep | $416 | 1% of the value a year |
| Owning, cash out | $3,751 | $323 of it builds equity |
| Lost return on the down payment | $812 | What your cash would earn yearly at 8.3% |
| Buying costs, spread out | $208 | 3.5% of the price over 7 years |
| True cost of owning | $4,448 | Cash out, minus the equity share, plus both lines listed above |
The numbers behind Eden Prairie's verdict
- Typical home value Zillow, ZHVI, September 2026
- $499,728
- Typical rent Zillow, ZORI, September 2026
- $1,837 a month
- Down payment: 20% keeps you clear of private mortgage insurance, which the engine doesn't model
- 20%
- Mortgage rate: Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home prices Minnesota, 1995 to 2025, FHFA house price index
- 4.3% each year
- Rent growth CPI primary residence rent, yearly growth 2006 to 2026
- Annual rate: 3.5%
- Return on savings60% of the S&P 500, dividends included, plus 40% of 10-year Treasuries, rebalanced each year, from 1928 to 2025
- 8.3% per year
- Property tax ACS 2020-2024, Eden Prairie, Census
- 1.09% of the property's value
- Home insurance ACS 2020-2024, Eden Prairie, Census
- $156 per month
- MaintenanceFannie Mae, low end of the 1% to 4% range
- 1% of value every year
- Buying costsFreddie Mac, midpoint of the 2% to 5% range
- 3.5% of the price
- Selling costsAgent commission and closing costs
- 6% of the price
In Eden Prairie, what would flip the result?
The 7-year verdict for Eden Prairie changes at each listed point. Everything else remains unchanged.
When renting wins
- Home prices grow at less than 6.5% a year (the figure used here is 4.3%, Minnesota's long-run rate).
- A mortgage rate holds above 3.86%.
- A home like this one rents for under $2,840 a month (the typical rent here is $1,837).
- Any move in the coming 30 years leaves owning behind; it never catches up at these numbers.
When buying wins
- Home prices grow at more than 6.5% a year.
- You lock in a mortgage rate under 3.86% (today's rate is 7.24%).
- You'd pay more than $2,840 each month to rent that same home.
Eden Prairie compared with the other 812 cities
| Measure | Eden Prairie | Median city |
|---|---|---|
| Typical home value | $499,728 | $422,451 |
| Typical rent | $1,837 /mo | $1,837 /mo |
| Price-to-rent ratio | 22.7 (#217 of 813) | 18.5 |
| Home prices, last 10 years | 4.3% a year | 6.2% a year |
| Rents, last 5 years | 3.4% a year | 4% a year |
| Property tax | 1.09% | 0.87% |
| Households that rent | 24% | 42% |
Data from: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Minnesota
- Rent. In Minneapolis, MN, renting wins by $17k.
- Renting leads in St. Paul, MN, a $21k gap.
- Renting leads in Rochester, MN, a $32k gap.
- Rent. In Bloomington, MN, renting wins by $35k.
- Rent. In Duluth, MN, renting wins by $28k.
- Renting leads in Brooklyn Park, MN, a $41k gap.
- Renting leads in Woodbury, MN, a $37k gap.
- Rent. In Plymouth, MN, renting wins by $88k.
- Renting leads in Lakeville, MN, a $58k gap.
- Renting leads in Blaine, MN, a $6k gap.
- Rent. Maple Grove, MN. Renting is ahead by $20k.
- Rent. St. Cloud, MN. Renting comes out ahead by $22k.