Chicago · Registered nurse · $98,500 · One adult, renting a 1-bedroomSaved on this device

Chicago · Registered nurse · $98,500 · One adult, renting a 1-bedroom

Minneapolis, MN

Housing in Minneapolis, MN: Rent, Home Prices & Property Tax

$1,366/mo (1 bd) in Minneapolis. Median home $354,400. Property tax 1.11%.

Compare vs Chicago Rank metros from MinneapolisHow we figure this

Rent (1 bd): $1,366; /mo
Buy: $2,445; Mortgage, tax, insurance
Buying costs more: $1,079; /mo

State tax and rent

To buy

20% down payment$70,880
Mortgage at 6.5%$1,792
Property tax (1.11% of value)$328/mo · $3,934/yr
Insurance and upkeep$325
Monthly total$2,445

45.9% of renters spend 30% or more of income on rent. Census ACS 2023.

Months to 20% down

$2,767 left each month. About 26 months (2.2 years) to save $70,880.

Asking rent. Census median home price. 30-year fixed, 6.5%, 20% down. Not lending advice.

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