The Housing Market in Coon Rapids Today
As a growing suburb of the Twin Cities, Coon Rapids has seen steady demand for housing in recent years. Its proximity to Minneapolis and St. Paul, combined with a strong local job market anchored by employers like Mercy Hospital and Honeywell, has made Coon Rapids an attractive option for both renters and buyers.
Compared to neighboring cities like Blaine and Anoka, Coon Rapids offers a mix of affordable apartments and single-family homes. The city’s median home price of $325,000 in 2025 is slightly lower than the metro average, making it appealing to first-time buyers and young families. Rental prices have also remained competitive, with a typical one-bedroom apartment renting for around $1,100 per month.
As the Twin Cities region continues to grow, Coon Rapids is expected to see ongoing development and rising housing costs. However, the city’s diverse housing stock and strong economic fundamentals suggest that it will remain a relatively affordable option within the metro area. For those considering a move to Coon Rapids, understanding the local cost of living and housing market trends is essential for making informed decisions.
Renting in Coon Rapids: Typical Costs and Trends
Renting is a popular choice in Coon Rapids, particularly among young professionals, families, and those who value flexibility. As of 2025, the average rent for a one-bedroom apartment in Coon Rapids is around $1,100 per month, while a two-bedroom unit typically costs about $1,400. These prices are generally in line with other suburbs in the northern Twin Cities metro.
Rental prices can vary depending on the neighborhood and proximity to amenities. For example, apartments near the Riverdale Commons shopping center or the Coon Rapids Dam Regional Park may command higher rents due to their convenient locations. On the other hand, older apartment complexes or those further from major highways may offer more affordable options.
Renters in Coon Rapids should also factor in additional monthly expenses like utilities, parking, and renter’s insurance. While some apartment complexes may include heat, water, or trash service in the rent, others require tenants to pay for these separately. Commuting costs are another consideration, as many residents drive or take public transit to jobs in Minneapolis, St. Paul, or other nearby cities.
Owning a Home in Coon Rapids: Prices, Taxes, and HOA Fees
For those looking to buy a home in Coon Rapids, the median home price in 2025 is around $325,000. This is relatively affordable compared to other parts of the Twin Cities metro, where median prices can exceed $400,000. However, home prices in Coon Rapids have been rising steadily in recent years, reflecting the area’s growing popularity and limited housing inventory.
In addition to mortgage payments, homeowners in Coon Rapids must budget for property taxes. The city’s property tax rate is currently around 1.2%, which translates to an annual tax bill of about $3,900 on a $325,000 home. This is slightly higher than the national average but in line with other communities in the Twin Cities area.
Some neighborhoods in Coon Rapids also have homeowners associations (HOAs) that charge monthly or annual fees. These fees typically cover services like trash removal, snow plowing, and maintenance of common areas. HOA fees in Coon Rapids can range from around $100 to $400 per month, depending on the community and amenities provided. While these fees can add to the overall cost of homeownership, they may also provide value by maintaining property values and reducing individual maintenance responsibilities.
Apartment vs House in Coon Rapids: Side-by-Side Costs
| Monthly Expense | Apartment (2BR) | House (3BR) |
|---|---|---|
| Rent/Mortgage Payment | $1,400 | $1,950 (based on $325,000 home price) |
| Property Tax | N/A (included in rent) | $325 (1.2% annual rate) |
| Utilities | $150 (electricity, gas) | $250 (electricity, gas, water, sewer, trash) |
| Insurance | $15 (renter’s insurance) | $80 (homeowner’s insurance) |
| HOA Fees | N/A | $200 (typical for Coon Rapids) |
| Monthly Total | $1,565 | $2,805 |
Utility & Upkeep Differences
In addition to the base costs of renting or owning, there are significant differences in utility and maintenance expenses between apartments and houses in Coon Rapids. Apartment renters typically pay for electricity and sometimes gas, while the landlord covers water, sewer, and trash service. Renters are also not directly responsible for maintenance and repairs, although some may choose to carry renter’s insurance to protect their belongings.
Homeowners, on the other hand, must budget for all utilities including electricity, gas, water, sewer, and trash. They are also solely responsible for home maintenance tasks like lawn care, snow removal, and general upkeep. These costs can add up quickly, especially for older homes or those with large yards. Homeowners should plan to set aside 1-2% of their home’s value each year for maintenance and repairs.
Coon Rapids’s climate also impacts utility costs for both renters and homeowners. Cold winters mean higher heating bills, while hot summers can lead to increased electricity usage for air conditioning. Homes with older windows, poor insulation, or inefficient heating and cooling systems may see even higher utility bills. Upgrading to energy-efficient appliances and improving insulation can help manage these costs over time.
5-Year Rent vs Buy Outlook
Looking ahead, both renting and buying in Coon Rapids are likely to become more expensive. Based on recent trends, rental prices are projected to rise by about 3% per year, while home values are expected to appreciate by around 4% annually. This means that over a five-year period, the total cost of renting a two-bedroom apartment could exceed $95,000, while the total cost of owning a $325,000 home could surpass $190,000 (including mortgage payments, property taxes, insurance, and maintenance).
Of course, these projections are based on average costs and appreciation rates. Individual circumstances, such as the specific home or apartment, neighborhood, and market conditions, can significantly impact the relative costs of renting versus buying. Additionally, owning a home offers the potential for building equity over time, while renting provides greater flexibility and lower upfront costs.
Ultimately, the decision to rent or buy in Coon Rapids depends on a variety of factors, including income, savings, job stability, and long-term goals. Those who plan to stay in the area for several years and have the financial means may find that buying a home is a sound investment, while those who value mobility or have limited savings may prefer renting. Carefully considering both the short-term and long-term costs and benefits is essential for making an informed decision in Coon Rapids’s evolving housing market.
FAQs About Housing Costs in Coon Rapids
- How much are HOA fees in Coon Rapids?
HOA fees in Coon Rapids typically range from $100 to $400 per month, depending on the community and amenities provided. - What is the property tax rate in Coon Rapids?
The property tax rate in Coon Rapids is around 1.2% of a home’s assessed value. - Is renting cheaper than buying long-term in Coon Rapids?
While renting may be cheaper in the short term, buying a home in Coon Rapids can be more cost-effective in the long run, especially if home values continue to appreciate. - Do houses have higher utility costs than apartments?
Yes, houses in Coon Rapids typically have higher utility costs than apartments, as homeowners are responsible for more utilities and must also maintain their homes. - What’s the monthly cost difference between apartments and houses in Coon Rapids?
On average, the monthly cost difference between renting a two-bedroom apartment and owning a three-bedroom home in Coon Rapids is around $1,240, with houses being more expensive.
Making Smart Housing Choices in Coon Rapids
Navigating the housing market in Coon Rapids requires careful consideration of both current costs and future trends. By understanding the factors that impact rental prices, home values, and overall living expenses, residents can make informed decisions that align with their budgets and long-term goals.
For those new to the area, researching neighborhoods, school districts, and local amenities can help narrow down housing options. Renters should compare prices, lease terms, and included utilities across multiple apartment complexes, while buyers should work with a knowledgeable real estate agent to find homes that fit their needs and budget.
Regardless of whether one chooses to rent or buy, it’s important to plan for both upfront and ongoing costs. Creating a detailed budget that accounts for housing, utilities, transportation, and other monthly expenses can help ensure long-term financial stability. By staying informed about market trends and making smart choices, residents can find the right housing option to call home in Coon Rapids.