Rent vs buy in St. Paul, MN
In St. Paul, Minnesota, the typical rent is $1,524 /mo and the typical home is $291,209.
Over 7 years, renting comes out $21k ahead
Today's mortgage rate, a 20% down payment, and the rent and home value typical for St. Paul. Your break-even point falls in year 12.
An opinion, clearly labelled, and the math shown. Not quotes, but estimates. Adjust a figure and the stamp updates.
- Renting leads by
- $21k after 7 years
- Break-even point
- the 12th year when owning catches up
- Real cost of owning
- $2,685 a month year 1, against $1,524 rent
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For its two figures, the stamp draws on St. Paul's typical rent and typical home value. Your own rent, price and years can flip the result.
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In St. Paul, is renting or buying cheaper?
Counting the money you get back when you sell, renting costs $20,804 less over 7 years. For the first 11 years, renting is the cheaper choice. By year 12, owning catches up.
Rent Home ownership. Net cost to date, by year.
In St. Paul, the average rent compared with the mortgage payment
Rent and the mortgage payment are only part of the story. Here are all the monthly costs in year 1 at the typical price in St. Paul.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,524 | All of it, every month |
| Mortgage payment | $1,588 | $1,399 of it is interest in year 1 |
| Property tax | $315 | 1.3% of the value a year |
| Insurance | $133 | Census median for the city |
| Upkeep | $243 | 1% of the value a year |
| Owning, cash out | $2,279 | $188 of it builds equity |
| Lost return on the down payment | $473 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $121 | 3.5% of the price over 7 years |
| True cost of owning | $2,685 | Cash out minus the equity part, then add the two lines above |
The data behind St. Paul's verdict
- Home value, typicalZillow ZHVI, September 2026
- $291,209
- Rent, typicalZillow ZORI, September 2026
- $1,524 a month
- Down payment20% avoids private mortgage insurance, something the engine doesn't model.
- 20%
- Mortgage interest rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home pricesFHFA house price index for Minnesota, 1995 to 2025
- 4.3% annually
- How rents have grownCPI for rent of a primary residence, yearly growth 2006 to 2026
- That's 3.5% a year.
- Savings return60% S&P 500 including dividends plus 40% 10-year Treasuries, rebalanced each year, 1928 to 2025
- 8.3% each year
- Property tax, from Census ACS 2020-2024, St. Paul
- That's 1.3% of the value.
- Home insurance, from Census ACS 2020-2024, St. Paul
- It's $133 /mo.
- Maintenance, per Fannie Mae, low end of 1% to 4%
- That's 1% of the value a year.
- Buying costs, per Freddie Mac, middle of 2% to 5%
- That's 3.5% of the price.
- Selling costsAgent commission and closing costs
- That's 6% of the price.
What would flip the result in St. Paul?
Every line shows where the 7-year verdict for St. Paul flips, with everything else left unchanged.
Renting wins if
- Home prices rise less than 5.2% a year (we use Minnesota's long-run rate of 4.3%).
- The rate on a mortgage remains higher than 5.97%.
- Homes of this kind rent below $1,750 a month (the local typical: $1,524).
- Before year 12, you move.
Buying wins if
- Home prices climb by more than 5.2% a year.
- You lock in a mortgage rate under 5.97% (today's is 7.24%).
- The same home would cost more than $1,750 a month to rent.
- A stay of 12 years or more.
St. Paul compared with the other 812 cities
| Measure | St. Paul | Median city |
|---|---|---|
| Typical home value | $291,209 | $422,451 |
| Typical rent | $1,524 /mo | $1,837 /mo |
| Price-to-rent ratio | 15.9 (#562 of 813) | 18.5 |
| Home prices, last 10 years | 4.5% a year | 6.2% a year |
| Rents, last 5 years | 2.8% a year | 4% a year |
| Property tax | 1.30% | 0.87% |
| Households that rent | 47% | 42% |
Data from Zillow ZHVI and ZORI, Census ACS 2020-2024.
More Minnesota cities
- Renting wins by $17k in Minneapolis, MN.
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- Renting wins by $22k in St. Cloud, MN.
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