Rent vs buy in St. Cloud, MN
A typical monthly rent of $1,241 and a typical home price of $256,326 in St. Cloud, Minnesota.
Renting comes out ahead by $22k over 7 years
Using St. Cloud's typical rent and its typical home value, a 20% down payment and today's mortgage rate. The break-even point lands in year 14.
An opinion, clearly labelled, math shown. These are estimates, not quotes. Swap in a different number and the stamp updates.
- Renting leads by
- $22k after 7 years
- Break-even point
- Year 14 when owning catches up
- What owning really costs
- $2,309 a month year 1, against $1,241 rent
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In St. Cloud, is renting or buying the cheaper choice?
Renting costs less over 7 years, by $22,419, once you count what comes back from the sale. For the first 13 years, renting is cheaper. In year 14, owning catches up.
Renting. Owning. Net cost to date, by year.
Average rent compared with the mortgage payment in St. Cloud
Rent and the mortgage payment are only part of the cost. Here are all the monthly costs for year 1, at the typical price in St. Cloud.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,241 | All of it, every month |
| Mortgage payment | $1,397 | $1,232 of it is interest in year 1 |
| Property tax | $220 | 1.03% of the value a year |
| Insurance | $120 | Census median for the city |
| Upkeep | $214 | 1% of the value a year |
| Owning, cash out | $1,951 | $166 of it builds equity |
| Lost return on the down payment | $417 | What that cash would earn yearly at 8.3% |
| Buying costs, spread out | $107 | 3.5% of the price over 7 years |
| True cost of owning | $2,309 | Cash out, minus the equity share, plus the two lines listed above |
The St. Cloud verdict, in numbers
- Home value, typical Zillow ZHVI, September 2026
- $256,326
- Rent, typical Zillow ZORI, September 2026
- $1,241 a month
- Down payment: 20% means no private mortgage insurance, and the engine doesn't model that insurance.
- 20%
- The mortgage rate, from Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home valuesFHFA index of home prices, Minnesota, 1995 to 2025
- 4.3% yearly
- Growth in rentsYearly growth, CPI rent of primary residence, 2006 to 2026
- 3.5% yearly
- Savings return60% S&P 500 including dividends, plus 40% 10-year Treasuries, rebalanced each year, 1928 to 2025
- 8.3% yearly
- What property tax costs Census ACS 2020-2024, St. Cloud
- 1.03% of the value
- Insurance for the home Census ACS 2020-2024, St. Cloud
- $120 per month
- UpkeepFannie Mae, low end of the 1% to 4% range
- each year, 1% of value
- Buying costsFreddie Mac, middle of a 2% to 5% range
- 3.5% of home price
- Selling costs Agent commission and closing costs
- 6% of the price
What could change the St. Cloud result?
Every line marks the point where St. Cloud's 7-year verdict changes, with everything else held as it is.
When renting wins
- Home prices grow more slowly than 5.4% each year (we use 4.3%, Minnesota's rate over the long run).
- The mortgage rate remains above 5.68%
- Similar homes rent below $1,480 a month (here the typical figure is $1,241).
- Your move comes before year 14.
When buying wins
- Home prices grow by more than 5.4% a year.
- A mortgage rate below 5.68% gets locked in (today's is 7.24%).
- Rent on that same home would run above $1,480 a month.
- You remain for 14 years or longer.
St. Cloud compared with the other 812 cities
| Measure | St. Cloud | Median city |
|---|---|---|
| Typical home value | $256,326 | $422,451 |
| Typical rent | $1,241 /mo | $1,837 /mo |
| Price-to-rent ratio | 17.2 (#479 of 813) | 18.5 |
| Home prices, last 10 years | 5.6% a year | 6.2% a year |
| Rents, last 5 years | 5.1% a year | 4% a year |
| Property tax | 1.03% | 0.87% |
| Households that rent | 51% | 42% |
Data from: Zillow's ZHVI and ZORI, Census ACS 2020-2024.
Other Minnesota cities
- 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.
- Rent. Renting wins by $6k in Blaine, MN.
- Rent. Renting wins by $20k in Maple Grove, MN.
- Rent. Renting wins by $52k in Eagan, MN.