The Housing Market in Burnsville Today
Burnsville’s housing market in 2025 is shaped by its position as a growing suburb of the Minneapolis-St. Paul metro area. With major employers like Fairview Ridges Hospital and Northern Tool + Equipment headquartered in the city, Burnsville attracts a mix of young professionals, families, and retirees seeking a balance of affordability and access to the Twin Cities.
Compared to Minneapolis proper, Burnsville offers more spacious housing options at lower prices, with a mix of apartments, townhomes, and single-family houses available. The city’s proximity to Interstate 35W and 35E provides convenient commuting options, while its parks and trails, like Alimagnet Park and Terrace Oaks West, offer recreational amenities that appeal to residents.
While housing costs in Burnsville remain lower than in central Minneapolis, the city has seen steady price appreciation in recent years due to its growing popularity and new development projects. As more people seek affordable alternatives to downtown living, demand for housing in Burnsville is expected to remain strong in the coming years.
Renting in Burnsville: Typical Costs and Trends
As of 2025, the typical rent for a 1-bedroom apartment in Burnsville ranges from $1,200 to $1,500 per month, while 2-bedroom units generally cost between $1,400 and $1,800. These prices are influenced by factors like proximity to major highways, access to amenities, and the age and quality of the building.
Neighborhoods closer to I-35W and I-35E, such as Heart of the City and Burnsville Center, tend to have higher rents due to their convenient location and newer apartment complexes. More affordable options can be found in areas like Westview and Cam Ram, which offer a mix of older apartments and townhomes.
Burnsville’s renter population includes a diverse mix of young professionals commuting to the Twin Cities, families attracted to the city’s strong schools, and retirees seeking maintenance-free living. With its variety of housing types and price points, Burnsville caters to a wide range of renter preferences and budgets.
Owning a Home in Burnsville: Prices, Taxes, and HOA Fees
The median home price in Burnsville as of 2025 is around $350,000, which is more affordable than many closer-in suburbs of Minneapolis. However, homeownership costs extend beyond the listing price, and buyers in Burnsville need to factor in additional expenses like property taxes, insurance, and potential HOA fees.
Burnsville’s property tax rate is approximately 1.3%, which translates to annual taxes of $4,550 on a $350,000 home. While this is higher than some other parts of the country, it is in line with the typical tax rates across the Twin Cities metro area.
Many of Burnsville’s newer developments, particularly townhome and condo communities, have active homeowners’ associations (HOAs). These associations generally charge monthly or annual fees ranging from $200 to $400 per month, which cover services like exterior maintenance, landscaping, snow removal, and access to amenities like pools or fitness centers. While these fees can add to the overall cost of homeownership, they also provide value and convenience for many buyers.
Apartment vs House in Burnsville: Side-by-Side Costs
| Monthly Expense | Apartment (2BR) | House (3BR) |
|---|---|---|
| Rent/Mortgage Payment | $1,600 | $1,950 |
| Property Tax | N/A (included in rent) | $380 |
| Utilities | $150 (lower due to shared walls) | $250 (higher heating/cooling costs) |
| Insurance | $20 (renters insurance) | $100 (homeowners insurance) |
| HOA Fees | N/A | $300 (common in Burnsville) |
| Maintenance/Repairs | N/A (covered by landlord) | $200 (estimated) |
| Monthly Total | $1,770 | $3,180 |
Utility & Upkeep Differences
In addition to the base rent or mortgage payment, apartments and houses in Burnsville have different utility and maintenance costs. Apartments generally have lower utility expenses, particularly for heating and cooling, due to their smaller size and shared walls. Renters also avoid costs like exterior upkeep, landscaping, and snow removal, which are handled by the property manager.
Homeowners, on the other hand, are responsible for all utilities and maintenance costs. Given Minnesota’s cold winters and warm summers, heating and cooling expenses can be significant in a larger house. Owners also need to budget for ongoing upkeep, such as lawn care, snow removal, and general repairs, which can add hundreds of dollars to the monthly [cost of living in Burnsville](/burnsville-mn/cost-overview/).
5-Year Rent vs Buy Outlook
Looking at the next five years, both renting and buying in Burnsville have their advantages. Renting offers flexibility and predictable monthly costs, without the need to worry about property taxes, maintenance, or [moving logistics](https://indexyard.com/best-moving-companies-guide/). However, renters won’t build equity, and they may face rent increases each year.
Buying a home in Burnsville requires a larger upfront investment and comes with additional costs like property taxes, insurance, and maintenance. However, homeowners can build equity over time as they pay down their mortgage and benefit from potential appreciation in home values. Historically, home prices in the Twin Cities metro area have risen steadily, making homeownership an attractive long-term investment for many.
Ultimately, the decision to rent or buy in Burnsville depends on individual circumstances, such as financial stability, job security, and long-term goals. By understanding the full [cost breakdown of renting and owning](/burnsville-mn/monthly-budget/), residents can make informed choices that align with their budgets and lifestyles.
FAQs About Housing Costs in Burnsville
- How much are HOA fees in Burnsville?
- What is the property tax rate in Burnsville?
- Is renting cheaper than buying long-term in Burnsville?
- Do houses have higher utility costs than apartments?
HOA fees in Burnsville typically range from $200 to $400 per month, depending on the community and amenities offered.
The property tax rate in Burnsville is approximately 1.3% of the home’s assessed value.
While renting may be cheaper in the short term, buying a home in Burnsville can be more cost-effective in the long run due to the potential for equity growth and fixed mortgage payments.
Yes, houses in Burnsville generally have higher utility costs than apartments due to their larger size and increased heating and cooling needs.
Making Smart Housing Choices in Burnsville
Navigating the housing market in Burnsville requires careful consideration of both short-term costs and long-term financial goals. By understanding the unique factors that influence housing costs in this growing suburb, such as property taxes, HOA fees, and utility expenses, residents can make informed decisions that fit their budgets and lifestyles.
Whether renting or buying, it’s essential to look beyond the base monthly payment and factor in the full range of expenses associated with each option. By taking a comprehensive approach to [housing costs](/burnsville-mn/cost-overview/) and considering the 5-year outlook, Burnsville residents can find the right balance of affordability, amenities, and long-term financial stability in this vibrant Twin Cities community.