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Cost of Living in Burnsville

Is it better to rent or buy in Burnsville? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$43,732
$596/mo

Median in area: $596

$136,700

Median in area: $136,700

$27,340

If you Rent

$743 /mo
Base Rent$596
Est. Utilities$147
% of Income20.4%
Pre-tax Residual$2,901

If you Buy

$1,002 /mo
P&I (6.955%)$724
Taxes & Ins$131
Est. Utilities$147
% of Income27.5%
Pre-tax Residual$2,642

Cost of Living FAQs

Is it cheaper to rent or buy in Burnsville?›

Based on median housing data, renting is currently more affordable on a monthly basis in Burnsville. The estimated all-in monthly cost for renting is $743, while owning a median-priced home with a 20% down payment is roughly $1,002 per month (a difference of $259).

How much do utilities cost in Burnsville?›

The average monthly utility cost (electricity and natural gas) for a typical home in Burnsville is approximately $147. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Burnsville?›

To comfortably afford the median rent and utilities in Burnsville without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $29,720 per year.