Rent vs buy in Maple Grove, MN
In Maple Grove, Minnesota, the typical rent is $2,198 /mo, while the typical home value is $423,579.
Renting comes out ahead by $20k across 7 years.
Today's mortgage rate and 20% down apply, along with Maple Grove's typical home value and rent. You break even in year 10.
Clearly labelled opinion with math. These figures are estimates, not quotes. Adjust a number and the stamp changes.
- Renting leads by
- $20k after 7 years
- Break-even point
- year 10 when owning catches up
- Actual cost of owning
- $3,776 /mo year 1, against $2,198 rent
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Is renting or buying cheaper in Maple Grove?
Over 7 years, renting costs $20,176 less, including the money you get back when you sell. For the first 9 years, renting costs less. By year 10, owning catches up.
The renting option. The owning option. Year-by-year net cost.
Maple Grove: average rent vs mortgage payment
Year 1 doesn't end with rent and mortgage alone. At Maple Grove's typical price, these are all the monthly costs.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,198 | All of it, every month |
| Mortgage payment | $2,309 | $2,036 of it is interest in year 1 |
| Property tax | $381 | 1.08% of the value a year |
| Insurance | $141 | Census median for the city |
| Upkeep | $353 | 1% of the value a year |
| Owning, cash out | $3,185 | $274 of it builds equity |
| Lost return on the down payment | $688 | At 8.3% a year, that's what the cash would earn. |
| Buying costs, spread out | $176 | 3.5% of the price over 7 years |
| True cost of owning | $3,776 | Subtract the equity portion from cash out, then add the two amounts listed above. |
Maple Grove verdict: the numbers behind it
- Typical home valueZillow ZHVI, September 2026
- $423,579
- Typical rentZillow ZORI, September 2026
- $2,198 /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, Maple Grove
- 1.08% of value
- Home insuranceCensus ACS 2020-2024, Maple Grove
- $141 /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
What change would reverse the result in Maple Grove?
Each line marks the point where Maple Grove's 7-year verdict changes, while all other factors stay the same.
Renting wins under these conditions
- We base the calculation on 4.3%. That's Minnesota's long-run rate. Home prices grow more slowly, below 4.9% each year.
- The mortgage rate remains above 6.40%.
- For a home like this, monthly rent comes in under $2,410 (the local typical is $2,198).
- Before year 10, you move.
Buying wins under these conditions
- Annual home price growth is above 4.9%.
- You lock a mortgage rate under 6.40% (today's is 7.24%).
- That same home would cost more than $2,410 a month to rent.
- You remain for 10 years or longer.
How Maple Grove compares with the other 812 cities
| Measure | Maple Grove | Median city |
|---|---|---|
| Typical home value | $423,579 | $422,451 |
| Typical rent | $2,198 /mo | $1,837 /mo |
| Price-to-rent ratio | 16.1 (#550 of 813) | 18.5 |
| Home prices, last 10 years | 4.2% a year | 6.2% a year |
| Rents, last 5 years | 4.2% a year | 4% a year |
| Property tax | 1.08% | 0.87% |
| Households that rent | 18% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Minnesota
- Renting wins by $17k in Minneapolis, MN.
- Renting wins by $21k in St. Paul, MN.
- Renting wins by $32k in Rochester, MN.
- Renting wins by $35k in Bloomington, MN.
- Renting wins by $28k in Duluth, MN.
- Renting wins by $41k in Brooklyn Park, MN.
- Renting wins by $37k in Woodbury, MN.
- Renting wins by $88k in Plymouth, MN.
- Renting wins by $58k in Lakeville, MN.
- Renting wins by $6k in Blaine, MN.
- Renting wins by $22k in St. Cloud, MN.
- Renting wins by $52k in Eagan, MN.