Trying to choose between a condo and a single-family home in Highland Park? You are not alone. Each option offers clear trade-offs in cost, maintenance, privacy and future resale. In this guide, you will see what typical options look like in 55116, how monthly costs compare, and what to check before you buy so you can move forward with confidence. Let’s dive in.
Highland Park at a glance
Highland Park sits along the Mississippi River in Saint Paul, known for tree-lined streets, established homes from the 1920s to 1950s, and easy access to river parks and neighborhood retail. You will find a growing mix of attached housing around the Highland Bridge redevelopment, which is adding new homes, parks and retail. You can explore neighborhood background on the Highland Park page on Wikipedia, and see the evolving plan and amenities on the Highland Bridge site.
What you get: condos vs homes
Condos and townhomes in 55116
In Highland Park, you will see a range of attached homes. Highland Pointe on Graham Avenue is a good example of a modern mid-rise with a fitness room, clubroom and heated underground parking. HOA dues in similar buildings often fall around the mid-$400s to low-$600s per month, depending on unit size and parking.
Closer to Highland Village, Parkway Commons offers single-level living in a garden-style setting. HOA fees in comparable communities are often around the $500 to $550 per month range, typically covering grounds care, exterior maintenance and common-area expenses. New attached options at Highland Bridge include for-sale rowhomes with modern finishes and new-construction warranties. These tend to come at higher price points but deliver a low-maintenance lifestyle in a walkable, amenity-rich district.
Single-family homes in 55116
Highland Park’s single-family inventory includes 1930s–1950s bungalows, Cape Cods, ramblers and ranches, with some larger homes along Mississippi River Boulevard. Many homes have been updated, though the age of housing means systems and roofs can be at different life stages. In general, single-family homes in the area command higher prices than condos because of the land and lot size.
If you want a yard, more storage and full control over your exterior, a house fits the brief. If you prefer less day-to-day upkeep and like the idea of heated parking and shared amenities, a condo or townhome is often the easier choice.
Monthly costs in 55116
Below is a simple, Highland-specific comparison to show how monthly costs can differ. These are examples only, using the same down payment and interest rate so you can see apples-to-apples.
Assumptions for both examples:
- 20% down payment, 30-year fixed at about 5.98% based on a recent average reported by Freddie Mac’s survey.
- Ramsey County effective property tax rate around 1.34% according to Ownwell.
- Condo HOA estimate typical for Highland Park; single-family maintenance uses a common 1% annual rule of thumb.
Condo example (price about $280,000):
- Principal and interest: about $1,340 per month at 5.98%.
- Property tax: roughly $312 per month at a 1.34% effective rate.
- HOA dues: about $550 per month, building dependent.
- Condo insurance (HO-6): about $44 per month on average, per Bankrate’s national estimates.
- Utilities and other: about $100 per month, depending on what the HOA includes.
Total example condo carrying cost: about $2,346 per month.
Single-family example (price about $465,000):
- Principal and interest: about $2,228 per month at 5.98%.
- Property tax: roughly $519 per month at a 1.34% effective rate.
- Maintenance reserve: about $388 per month using the 1% annual rule of thumb.
- Utilities, yard and snow: about $200 per month, recognizing Minnesota winter needs. See typical winter cost considerations from MN Mortgage.
Total example single-family carrying cost: about $3,335 per month.
What this shows: a Highland Park condo can deliver a lower monthly outlay than a typical single-family home at the ZIP’s median price, but you take on HOA dues, rules and possible assessments. With a house, you gain control and space but accept higher and more variable maintenance over time.
Lifestyle trade-offs
Maintenance and time
- Condos: HOA handles exterior maintenance, snow removal, landscaping and common mechanicals. Your role is interior upkeep and your share of HOA dues. That can mean more predictable monthly costs.
- Single-family: you are responsible for the roof, exterior, driveway, yard and snow removal. Budget time and money for regular projects and Minnesota winters.
Space, privacy and noise
- Condos: shared walls and common areas can mean more neighbor noise and less private outdoor space. This is part of the trade-off for convenience and bundled amenities.
- Single-family: more separation, a private yard and no shared hallways. You set house rules without association restrictions.
Amenities and parking
- Condos: many Highland Park buildings offer package rooms, clubrooms, small fitness spaces and heated underground parking. Deeded stalls are valuable in winter and can affect HOA costs.
- Single-family: you trade shared amenities for your own garage, driveway and yard. You control improvements, from a garden to a patio or shed.
HOA fees, insurance and snow
If you are comparing line items, look at what the condo HOA actually covers. Many local associations include building insurance on the structure, common utilities, snow and lawn, and shared amenities. You carry an HO-6 condo policy to cover what is inside your walls and personal property, which is usually less expensive than a full homeowner policy, as shown in Bankrate’s HO-6 overview.
For houses, plan for snow removal equipment or a contractor. Per-visit snow services often run from about $25 to $75 depending on the driveway and service model, according to MN Mortgage’s guide.
For broader context, national data shows that HOAs are common and fees vary by building and services. A recent report summarized a national median HOA fee of about $135 per month, though Highland Park buildings that include parking and more services often run higher than that figure. See the national snapshot referenced in this HOA report summary.
Resale and financing points
Condo financing and approvals
Some loan programs require the building to meet specific requirements. If you plan to use FHA or VA financing, confirm whether the condo project is approved or if your lender will accept the project. Learn more about approvals and how they work from HUD’s FHA resources.
HOA health and assessments
Before you buy a condo, review the association’s financials, reserves and meeting minutes. Low reserves, high delinquencies or pending litigation can lead to special assessments. Use this due diligence checklist from CondoAssociation and see how to read a reserve study from GoverningDocs.
New supply at Highland Bridge
Highland Bridge continues to add new apartments, rowhomes and for-sale options, plus parks and retail. Newer attached homes can influence pricing and resale timelines for older condos and townhomes nearby. If you are weighing a purchase, scan current and upcoming phases on the Highland Bridge site and consider how new inventory could shape competition when you sell.
Quick pros and cons
Condos and townhomes
- Pros: predictable maintenance, bundled services, amenities, heated parking, often lower entry price than a house.
- Cons: HOA dues and rules, potential for special assessments, shared walls and less private outdoor space.
Single-family homes
- Pros: full control and flexibility, private yard and storage, no HOA rules.
- Cons: higher and less predictable maintenance, all snow and yard care on you, typically higher taxes and insurance than a condo.
How to choose in Highland Park
- Clarify your monthly comfort zone. Run numbers with today’s interest rate and actual HOA dues or maintenance targets.
- Map your lifestyle. Do you value yard space and privacy more, or convenience and low upkeep?
- If considering a condo, request the full resale packet. Review budget, reserves, master insurance, rental policy and meeting minutes.
- Factor your time horizon. If you expect to move within a few years, consider how new Highland Bridge supply and building approvals could affect your resale pool.
Ready to compare real, on-market options in 55116 and narrow the choice to what fits you best? Reach out to Julie Doolittle for local guidance, a customized cost comparison and access to Edina Realty tools like instant home valuation and a branded search portal.
FAQs
What do HOA fees usually cover in Highland Park condos?
- Most local associations cover exterior maintenance, building insurance on the structure, landscaping, snow removal and common-area utilities; review the HOA budget and resale packet to confirm specifics.
How do Minnesota winters affect costs for condos vs houses in 55116?
- Condo owners usually have snow removal covered by the HOA, while single-family owners budget for equipment or per-visit services that can run about $25 to $75 depending on conditions.
Are Highland Bridge rowhomes a good low-maintenance option?
- Yes, they offer newer construction with modern finishes and developer warranties in a walkable area with parks and retail, though prices are often higher than older attached homes.
What due diligence should I do before buying a condo in St. Paul?
- Request the declaration and bylaws, current budget and financials, reserve study, meeting minutes, master insurance details and the owner-occupancy and rental policy before you commit.
How competitive is pricing for single-family homes in Highland Park?
- Single-family homes often price higher than comparable condos due to land and lot size; plan for higher taxes and maintenance alongside the added space and control you gain.
