Brooklyn Park, MN

Average · 98

Minnesota · Population 84,349 · Updated March 2026

$1,331
Median Rent / Month
$85,964
Median Income
$313,500
Median Home Value
$1,471
Owner Costs / Month

Affordability

How far your income goes in Brooklyn Park

18.6%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Minnesota

State-level tax rates that affect your costs

9.85%
Income Tax (Top Rate)
6.875%
Sales Tax
1.11%
Property Tax Rate

Estimated Annual Costs

$15,972
Annual Rent
$8,467
State Income Tax
$3,480
Property Tax (est.)

Cost of Living Overview

Brooklyn Park has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 98 (where 100 equals the national median), Brooklyn Park residents can expect to pay median rent of $1,331/month while earning a median household income of $85,964/year.

The median home value in Brooklyn Park, MN is $313,500, with typical monthly owner costs around $1,471 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.6% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Minnesota's top income tax rate of 9.85% is among the highest in the nation, adding to the overall cost burden. Combined with a 6.875% sales tax rate and 1.11% effective property tax rate, the overall tax environment is a factor in the total cost of living in Brooklyn Park.

Frequently Asked Questions

Common questions about living costs in Brooklyn Park

What is the cost of living in Brooklyn Park, MN?
The cost of living index in Brooklyn Park, MN is 98 (US average = 100). Median monthly rent is $1,331, median household income is $85,964/year, and the median home value is $313,500.
Is Brooklyn Park, MN affordable?
Yes, Brooklyn Park is more affordable than the national average with a cost index of 98. The rent-to-income ratio is 18.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Brooklyn Park, MN?
The median gross rent in Brooklyn Park, MN is $1,331 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,972.
What is the median household income in Brooklyn Park?
The median household income in Brooklyn Park, MN is $85,964 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Minnesota?
Minnesota has a top income tax rate of 9.85%, a sales tax of 6.875%, and an effective property tax rate of 1.11%.