Brooklyn Park, Minnesota Housing Market Prices
Brooklyn Park Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 73% above the Minnesota median$409,337
-
Median rent 3% above the Minnesota median$1,325
Housing Market Overview
| Metric | Brooklyn Park | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $409,337 | $236,718 | $248,835 |
| Price Trend (Annual %) | 15.1% | 6.6% | 7.5% |
| Median Gross Rent | $1,325 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 5.0% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Brooklyn Park is about 73% higher than in Minnesota. Rent is about 3% higher than the Minnesota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Brooklyn Park, up about 15.1% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Brooklyn Park rose about 52.2% between 2015 and 2024, from $870 to $1,325. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 4.4 yearly household incomes in Brooklyn Park.
Buying the median-priced home in Brooklyn Park costs roughly 25.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Brooklyn Park. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Brooklyn Park | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $409,337 | $236,718 | $248,835 |
| Median Household Income | $92,803 | $89,852 | $80,455 |
| Price-to-Income Ratio | 4.4 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Brooklyn Park rose about 216.6%, while median household income rose about 38.2% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Brooklyn Park | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.0% | 65.5% | 58.5% |
| Rental Rate | 28.8% | 25.2% | 31.2% |
| Vacancy Rate | 3.3% | 9.3% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Brooklyn Park has a homeownership rate of 68.0%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 3.3%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Brooklyn Park | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.86 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1983 | 1976 | 1978 |
| Median Number of Rooms | 6.2 | 6.1 | 5.5 |
The typical housing unit in Brooklyn Park was built around 1983. On average, 2.9 people live in a home with about 6.2 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Brooklyn Park, Minnesota.
What is the median home price in Brooklyn Park, Minnesota?
The median home price in Brooklyn Park, Minnesota is $409,337, higher than the Minnesota average of $236,718.
What is the average home price in Brooklyn Park, Minnesota?
The typical home price in Brooklyn Park, Minnesota, reported as the median sale price, is $409,337. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Brooklyn Park, Minnesota?
The median gross rent in Brooklyn Park, Minnesota is $1,325 per month, higher than the Minnesota average of $1,280.
What was the median gross rent in Brooklyn Park in 2020?
In 2020, the median gross rent in Brooklyn Park, Minnesota was $1,150 per month.
What is the price-to-rent ratio in Brooklyn Park, Minnesota?
The price-to-rent ratio in Brooklyn Park, Minnesota is about 25.8, meaning it would take roughly 25.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Brooklyn Park.
Are home prices or rent rising faster in Brooklyn Park, Minnesota?
Both home prices and rent are rising in Brooklyn Park, up about 15.1% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Brooklyn Park, Minnesota?
68.0% of households in Brooklyn Park, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Brooklyn Park, Minnesota?
The housing vacancy rate in Brooklyn Park, Minnesota is 3.3%, lower than the Minnesota average of 9.3%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →