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Cost of Living · Minnesota

Minneapolis Cost of Living

Minneapolis, Minnesota costs approximately 4.0% above the US national average. Compare with 99 other major US cities.

1.04×
cost-of-living index (1.00 = US national average)
Minneapolis ranks 1 of 2 cities in Minnesota by cost of living.
Cities MORE expensive than Minneapolis (28)
San Francisco, CA
+39.4% more expensive
Oakland, CA
+29.8% more expensive
New York City, NY
+26.9% more expensive
Honolulu, HI
+25.0% more expensive
Irvine, CA
+25.0% more expensive
Los Angeles, CA
+17.3% more expensive
Boston, MA
+17.3% more expensive
San Diego, CA
+16.3% more expensive
Yonkers, NY
+15.4% more expensive
Anchorage, AK
+15.4% more expensive
Seattle, WA
+13.5% more expensive
Long Beach, CA
+13.5% more expensive
Anaheim, CA
+13.5% more expensive
Scottsdale, AZ
+13.5% more expensive
Chula Vista, CA
+10.6% more expensive
Miami, FL
+7.7% more expensive
Portland, OR
+5.8% more expensive
Newark, NJ
+5.8% more expensive
Sacramento, CA
+5.8% more expensive
Riverside, CA
+5.8% more expensive
Denver, CO
+3.8% more expensive
Chicago, IL
+1.0% more expensive
Austin, TX
+1.0% more expensive
Baltimore, MD
+1.0% more expensive
Stockton, CA
+1.0% more expensive
Aurora, CO
+1.0% more expensive
Hialeah, FL
+1.0% more expensive
Frisco, TX
+1.0% more expensive
Cities CHEAPER than Minneapolis (68)
Phoenix, AZ
−1.9% cheaper
Philadelphia, PA
−1.9% cheaper
Atlanta, GA
−1.9% cheaper
Tampa, FL
−1.9% cheaper
Henderson, NV
−1.9% cheaper
Reno, NV
−1.9% cheaper
Gilbert, AZ
−1.9% cheaper
Charleston, SC
−1.9% cheaper
Salt Lake City, UT
−1.9% cheaper
Orlando, FL
−2.9% cheaper
Wilmington, DE
−3.8% cheaper
Raleigh, NC
−3.8% cheaper
Virginia Beach, VA
−3.8% cheaper
St. Paul, MN
−3.8% cheaper
Chesapeake, VA
−3.8% cheaper
North Las Vegas, NV
−3.8% cheaper
Boise, ID
−3.8% cheaper
Fresno, CA
−3.8% cheaper
Worcester, MA
−3.8% cheaper
Dallas, TX
−4.8% cheaper
Nashville, TN
−4.8% cheaper
Colorado Springs, CO
−4.8% cheaper
Bakersfield, CA
−4.8% cheaper
St. Petersburg, FL
−4.8% cheaper
Madison, WI
−4.8% cheaper
Norfolk, VA
−5.8% cheaper
Jacksonville, FL
−6.7% cheaper
Charlotte, NC
−6.7% cheaper
Mesa, AZ
−6.7% cheaper
Houston, TX
−7.7% cheaper
Fort Worth, TX
−7.7% cheaper
Tucson, AZ
−7.7% cheaper
Glendale, AZ
−7.7% cheaper
Garland, TX
−7.7% cheaper
Spokane, WA
−7.7% cheaper
Pittsburgh, PA
−8.7% cheaper
Arlington, TX
−8.7% cheaper
Tallahassee, FL
−8.7% cheaper
Milwaukee, WI
−9.6% cheaper
Albuquerque, NM
−9.6% cheaper
New Orleans, LA
−9.6% cheaper
San Antonio, TX
−10.6% cheaper
Grand Rapids, MI
−10.6% cheaper
Columbus, OH
−11.5% cheaper
Detroit, MI
−11.5% cheaper
Cincinnati, OH
−11.5% cheaper
Kansas City, MO
−11.5% cheaper
Lexington, KY
−11.5% cheaper
Corpus Christi, TX
−11.5% cheaper
Buffalo, NY
−11.5% cheaper
Greensboro, NC
−11.5% cheaper
Knoxville, TN
−11.5% cheaper
El Paso, TX
−12.5% cheaper
Cleveland, OH
−12.5% cheaper
St. Louis, MO
−12.5% cheaper
Winston-Salem, NC
−12.5% cheaper
Indianapolis, IN
−13.5% cheaper
Louisville, KY
−13.5% cheaper
Omaha, NE
−13.5% cheaper
Memphis, TN
−14.4% cheaper
Oklahoma City, OK
−14.4% cheaper
Lincoln, NE
−14.4% cheaper
Birmingham, AL
−15.4% cheaper
Toledo, OH
−15.4% cheaper
Lubbock, TX
−15.4% cheaper
Wichita, KS
−17.3% cheaper
Fort Wayne, IN
−17.3% cheaper
Mobile, AL
−17.3% cheaper

What living in Minneapolis costs

At 1.04x national costs, Minneapolis is more expensive than 68 and cheaper than 28 of the 99 other metros here. In practical terms that is $1,400 a month for a one-bedroom and roughly $360,000 to buy.

The price-to-rent ratio here is roughly 21, which is high. Above about 20, renting and investing the down payment usually beats buying over a normal holding period — the purchase price is steep relative to what the same property earns as a rental.

Working and living here

Minneapolis is a metro of roughly 3.7M and roughly flat, running on healthcare & medtech, finance, retail. Larger employers include Target (HQ), UnitedHealth Group, 3M.

Minnesota taxes income at the state level, and Minneapolis adds no separate city tax. Cost-of-living indexes exclude income tax entirely, so compare after-tax figures rather than index ratios when weighing this metro against one in a no-income-tax state.

Getting around: Minneapolis is workable without a car in many neighborhoods. Going car-free is realistic in parts of the metro, which is worth roughly $9,000 a year against a car-dependent city at the same rent.

Climate: Cold continental climate: January lows near 7°F, July highs near 83°F.

No city income tax, but Minnesota's top state rate is 9.85%, one of the highest in the country; the metro hosts six Fortune 500 headquarters including Target and UnitedHealth Group.

Related tools

Paycheck calculator — take-home after federal, state and local tax. Salary calculator — pay by job and state. Compare against another metro.

Frequently Asked Questions

Is Minneapolis expensive to live in?▾
Relative to the US average, roughly average — the cost index is 1.04x, above 68 and below 28 of the 99 other metros tracked here. A one-bedroom averages $1,400 a month and the median home $360,000.
What salary do you need to live comfortably in Minneapolis?▾
A common rule keeps rent under 30% of gross income, which at $1,400 a month implies about $56,000 a year for a one-bedroom. That is a floor rather than a comfortable figure — it leaves nothing for savings or the rest of the budget.