Rent vs buy in Woodbury, MN

In Woodbury, Minnesota, the typical rent is $2,196 /mo and the typical home price is $460,987.

Rent

For 7 years, renting comes out ahead by $37k.

Based on Woodbury's typical rent and home value. The calculation includes today's mortgage rate and a 20% down payment. You reach the break-even point in year 13.

Clearly labelled opinion with the math shown. The figures are estimates, not quotes. Adjust any number and the stamp updates.

Ahead with renting: $37k
Point of break-even: At year 13
Full cost of ownership: Each month: $4,075

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Woodbury's typical rent and home value set the stamp. You can change the result with your rent, price and years.

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Which costs less in Woodbury, renting or buying?

Once you include the money returned after the sale, renting costs $37,246 less over 7 years. For the first 12 years, renting costs less. Year 13 is when owning catches up.

For renting. For owning. Net cost through each year.

Comparing average rent and mortgage payment in Woodbury

At Woodbury's typical price, rent and mortgage don't tell the whole story. Here are all monthly costs in year 1.

Each month, year 1	Amount	What it is
Rent	$2,196	All of it, every month
Mortgage payment	$2,513	$2,215 of it is interest in year 1
Property tax	$400	1.04% of the value a year
Insurance	$135	Census median for the city
Upkeep	$384	1% of the value a year
Owning, cash out	$3,432	$298 of it builds equity
Lost return on the down payment	$749	The yearly return the cash would earn, 8.3%
Buying costs, spread out	$192	3.5% of the price over 7 years
True cost of owning	$4,075	Cash out, with the equity part removed and the two lines above added

Figures behind the Woodbury verdict

Typical home valueZillow ZHVI, September 2026: $460,987
Typical rentZillow ZORI, September 2026: $2,196 /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, Woodbury: 1.04% of value
Home insuranceCensus ACS 2020-2024, Woodbury: $135 /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 would reverse the result in Woodbury?

Every line marks the threshold where the 7-year verdict in Woodbury flips, with all other inputs left as they are.

Renting comes out ahead when

We use 4.3%, Minnesota's rate over the long run, while home prices grow by less than 5.3% a year.
The mortgage rate remains above 5.80%.
A similar home rents for less than $2,590 each month. Here, the typical figure is $2,196.
Before year 13, you move.

Buying comes out ahead when

Home prices rise by more than 5.3% a year.
A mortgage rate below 5.80% is what you lock in (today's is 7.24%).
You would pay more than $2,590 a month to rent the same home.
Your stay lasts 13 years or longer.

How Woodbury compares with 812 other cities

Measure	Woodbury	Median city
Typical home value	$460,987	$422,451
Typical rent	$2,196 /mo	$1,837 /mo
Price-to-rent ratio	17.5 (#466 of 813)	18.5
Home prices, last 10 years	4.2% a year	6.2% a year
Rents, last 5 years	3.8% a year	4% a year
Property tax	1.04%	0.87%
Households that rent	22%	42%

Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.

Cities in Minnesota besides Woodbury

Rent. Duluth, MN. Renting wins by $28k here.

Minnesota rent vs buy figures