Cost of Living in Minneapolis, MN
Minneapolis's cost of living index is 108 — making it 7.4% more expensive than the US national average. To maintain your current standard of living here, you would need to earn $108,000 for every $100,000 of national-average income.
The Minneapolis Tax & Cost Impact
Minneapolis is located in Minnesota, a relatively high-tax jurisdiction. When you combine state income tax with a COL index of 108, your "Effective Purchasing Power" is significantly lower than the nominal salary suggests.
Decision Matrix
- ✓Housing: Housing is a value-play compared to national tiers.
- ✓Savings Rate: To save $2,000/mo here, you need a gross household income of ~$90,720.
COL Index
108
100 = national avg
Monthly Budget
$5,400
vs $5,000 national
Population
0.4M
Metro area
State Tax
Yes
Minnesota
Monthly Cost Breakdown
Estimated monthly costs in Minneapolis vs national average for a typical household.
| Category | National Avg | Minneapolis | Difference |
|---|---|---|---|
| Housing | $1,650 | $1,848 | +$198 |
| Groceries | $650 | $692 | +$42 |
| Transportation | $800 | $858 | +$58 |
| Healthcare | $400 | $422 | +$22 |
| Utilities | $300 | $324 | +$24 |
| Other | $1,200 | $1,277 | +$77 |
| Total | $5,000 | $5,400 | +$400 |
Salary Equivalent
To maintain the same standard of living in Minneapolis, a national-average salary translates to:
$50,000 nationally
$54,000
$75,000 nationally
$81,000
$100,000 nationally
$108,000
$150,000 nationally
$162,000
What Your Salary Gets You in Minneapolis
Here's how different salary levels translate to monthly purchasing power in Minneapolis, MN, where the cost of living is 8% above the national average.
Cities With Similar Cost of Living
FAQ: Cost of Living in Minneapolis
Is Minneapolis expensive to live in?
Minneapolis's cost of living index is 108, which is slightly above the national average of 100. Housing is typically the biggest factor, with estimated monthly rent around $1,782.
What salary do I need to live comfortably in Minneapolis?
To maintain a middle-class lifestyle in Minneapolis, you'd need approximately $81,000 per year, which is equivalent to a $75,000 salary at the national average cost of living.
How does Minneapolis compare to other cities?
Minneapolis is comparable in cost to Baltimore, Chicago, Fresno. More affordable alternatives include New Orleans, Houston, Milwaukee.