MN Housing Market
Rent vs Buy Calculator: Should I Rent or Buy in Minneapolis?
Here's the data you need to decide — based on Minneapolis's median home prices, rents, property taxes, and market trends.
Average Rent vs Home Price in Minneapolis: Market Snapshot
Median Home Price
$340,000
Median Rent
$1,500/mo
Price-to-Rent Ratio
18.9
NeutralProperty Tax
1.1%
Home Appreciation
2.5%/yr
Avg HOA
$300/mo
Cost of Renting vs Buying in Minneapolis: Monthly Cost Comparison
Here's what it costs to buy vs rent in Minneapolis with default assumptions (20% down, 6.5% rate, 30-year mortgage):
Estimated Buying Cost
Mortgage (P&I) $1,719
Property Tax $317
Insurance $133
Maintenance $340
HOA $300
Estimated Renting Cost
Monthly Rent $1,500
Renter's Insurance $13
Rent Increase 3.0%/yr
Is It Cheaper to Rent or Buy in Minneapolis? Key Insights
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Run the full calculator with Minneapolis's data pre-loaded to see your exact breakeven year based on your down payment, income, and timeline.
Use Our Rent vs Buy Calculator for Minneapolis
Our calculator is pre-loaded with Minneapolis's market data. Adjust your down payment, interest rate, and timeline to find your exact answer.
Use the Minneapolis Rent vs Buy Calculator