Home Values in Brooklyn Park, Minnesota — 2026 Market Report
Updated March 2026 | Balanced Market | +4.9% YoY
The median home value in Brooklyn Park, Minnesota is $295,000 as of March 2026, which is below the national median of $400,000. Home values in Brooklyn Park have increased by 4.9% over the past year and 27% over the last five years. With a population of 86,478 and a median household income of $62,250, the price-to-income ratio stands at 4.7x, making Brooklyn Park affordable for the average household.
Brooklyn Park Housing Market Conditions
| Metric | Brooklyn Park | National Avg |
|---|---|---|
| Median Home Value | $295,000 | $400,000 |
| YoY Appreciation | +4.9% | +3.8% |
| 5-Year Appreciation | +27% | +22.4% |
| Price per Sq Ft | $104 | $222 |
| Days on Market | 40 days | 45 days |
| Months of Supply | 4.4 | 3.5 |
| List-to-Sale Ratio | 96.7% | 98.5% |
| Monthly Homes Sold | 57 | — |
| Foreclosure Rate | 0.61% | 0.3% |
Home Value Trends in Brooklyn Park
A homeowner who purchased at the median price of $232,283 five years ago in Brooklyn Park would have gained approximately $62,717 in equity, representing a 27% return on investment. Over the past year alone, the typical homeowner gained $13,780 in home equity.
Affordability in Brooklyn Park, MN
With a median household income of $62,250 and a median home price of $295,000, the price-to-income ratio in Brooklyn Park is 4.7x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $2,340 compared to estimated monthly ownership costs of $1,676 gives a rent-vs-buy ratio of 0.72. In Brooklyn Park, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Brooklyn Park
The effective property tax rate in Minnesota is 1.12%. On a home valued at $295,000, the estimated annual property tax bill is $3,304, or approximately $275/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Brooklyn Park is 96.5 (100 = national average), indicating living costs are near the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Brooklyn Park, MN?
The median home value in Brooklyn Park, Minnesota is $295,000 as of March 2026. Home values have changed +4.9% over the past year, with a 5-year appreciation of 27%.
Is Brooklyn Park a buyer's or seller's market?
Brooklyn Park is currently a balanced market with 4.4 months of housing supply. Homes spend an average of 40 days on market, and the list-to-sale price ratio is 96.7%. Supply and demand are relatively balanced.
Are home values going up in Brooklyn Park?
Yes, home values in Brooklyn Park have increased by 4.9% over the past year. The 5-year appreciation rate is 27%, meaning a home worth $232,283 five years ago is now worth $295,000.
Is it better to rent or buy in Brooklyn Park?
The average monthly rent in Brooklyn Park is $2,340, while estimated monthly homeownership costs are approximately $1,676. The price-to-rent ratio is 10.5. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other Minnesota Cities
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Disclaimer: Home value data for Brooklyn Park, Minnesota is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.