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Swift County, MN

Rent vs Own in Swift County, Minnesota

In Swift County the ownership stack ($979/mo) sits only modestly above HUD's $973/mo 2-bedroom rent, a thin premium, not a blowout. Small assumption changes in the calculator can flip the verdict. Owner-occupied homes: 2,983.

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Renting is cheaper in Swift County

HUD's 2-bedroom rent is $973/mo - only a thin step below the $979/mo ownership stack. That is a $6/mo difference.

Based on 20% down, 6.5% rate, 30-year mortgage. Adjust below.

What This Data Tells Us About Renting vs Owning in Swift County

Primary driver

Buying compares well inside the state

Using the assumptions above, Swift County ranks 12 of 87 Minnesota counties for buy-vs-rent value (rank 1 = the best relative deal for buying). It sits ahead of 75 other Minnesota counties on this measure.

Decision signal 2

Income supports the median purchase price

Median household income is $60,412, and the 2.7x home-price-to-income ratio leaves room for the ownership stack (property tax alone is 2.3% of median income). The monthly gap above is more about mortgage rate and insurance assumptions than about the purchase price being out of reach.

Decision signal 3

HUD moved the rent benchmark up

HUD raised its 2-bedroom Fair Market Rent for Swift County from $933/mo in FY2025 to $973/mo in FY2026: it increased by $40/mo (+4.3%). A rising rent benchmark widens the gap in favour of owning over time, because the mortgage share of the ownership cost below is fixed at origination while the rent it is compared against reprices every year.

Decision signal 4

Renting wins, but only by a thin premium

At $161,400 for the median home and $1,386/yr in tax (0.86%), Swift County's ownership stack (~$979/mo) only narrowly exceeds the $973/mo HUD 2-bedroom rent - a $6/mo premium. That is the band where a rate drop or a larger down payment most often flips the cash-flow verdict.

Methodology & disclaimer

This calculator is for informational purposes only and is not tax, legal, or financial advice. Property tax figures come from the U.S. Census Bureau ACS 5-Year Estimates and rent figures come from HUD Fair Market Rents; both describe area medians, not individual transactions. Insurance is estimated at 0.35% of home value annually and closing costs, maintenance, HOA, and PMI are not included. Consult a licensed mortgage, tax, or real-estate professional before making a buy-or-rent decision based on these numbers.

Monthly Cost Breakdown

Estimated Monthly Ownership
$979
Mortgage (P&I) $816
Property Tax $116
Insurance (est.) $47
Monthly Rent (2-BR FMR)
$973
Studio$671
1-Bedroom$768
2-Bedroom$973
3-Bedroom$1,285
4-Bedroom$1,314

Adjust Your Scenario

Affordability Context

Median Household Income
$60,412
$5,034/mo
Home Price / Income
2.7x
Affordable (≤3x)
Tax-to-Income Ratio
2.3%
National benchmark: 2-4%

Who actually pays it here

Most Swift County households that own outright land between $800 and $1,499 a year, at the national middle, so the tax neither argues for renting nor against it and the decision turns on price and mobility instead.

Households earning $50,000 to $75,000 file the largest share of these write-offs in Swift County, an ordinary middle-income profile.

Layered on a thin rent-vs-own premium, that annual bill is often the swing factor: a paid-off owner still faces a real yearly charge even when the mortgage payment itself would have looked competitive.

Bill bands are Census ACS counts of owner-occupied homes without a mortgage. Income brackets are IRS Statistics of Income county data for tax year 2022, counted over FILERS reporting real-estate taxes on Schedule A, which is a smaller group than homeowners: most filers take the standard deduction.

Nearby Counties

Hennepin County
Home: $392,900 Tax: $4,480/yr
Ramsey County
Home: $326,600 Tax: $3,966/yr
Dakota County
Home: $381,000 Tax: $3,749/yr
Anoka County
Home: $346,500 Tax: $3,271/yr
Washington County
Home: $422,000 Tax: $4,164/yr
St. Louis County
Home: $221,400 Tax: $2,271/yr

Frequently Asked Questions

Is it cheaper to rent or buy in Swift County, Minnesota? ▼
HUD's 2-bedroom rent is only a thin step cheaper than owning in Swift County (about $6/mo) on the standard 20%-down / 6.5% assumptions. A larger down payment or a rate drop often closes it; equity is still the ownership-only bonus.
What is the average rent in Swift County? ▼
HUD prices a 2-bedroom unit at $973/mo here. Sizing up matters: going from a studio to a 4-bedroom adds about $643/mo, so the per-bedroom jump is worth checking against your actual space needs before assuming the 2-BR figure applies to your situation.
How much house can you afford in Swift County? ▼
On the common 3x-income guideline, a $60,412 household here can afford up to $181,236, which comfortably covers this county's $161,400 median home price -- a healthier affordability picture than many of the counties tracked on this site.
What is the median home price in Swift County? ▼
$161,400, per the Census Bureau's ACS 5-Year Estimates. The property tax on that value works out to roughly 0.86% a year, in line with typical rates for the area.
How does Swift County compare to other Minnesota counties for renting vs buying? ▼
Out of 87 Minnesota counties ranked here on buy-vs-rent value, Swift County lands at spot 12, putting it in the more buy-favorable quarter of the state. The <a href="/states/minnesota">Minnesota state page</a> lists every peer county's tax bill beside this one.
Is rent going up or down in Swift County? ▼
HUD's 2-bedroom Fair Market Rent figure has risen 4.3% between the FY2025 and FY2026 publications, the two most recent years tracked here.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from the U.S. Census Bureau (American Community Survey). See our methodology for details. Retrieved and formatted by PlainPropertyTax

Source: U.S. Census Bureau, Government Finances State and local property tax revenue by jurisdiction · 2025

Verify with HUD →