Cost of Living in Minneapolis, MN (2026)

Minneapolis's cost of living is 5% above the US average. $100,000 here is worth about $95,400 nationally. Rent, homes and monthly costs.

Minneapolis has a cost-of-living index of 105 against a US average of 100 — about 5% above average. $100,000 of income here is worth roughly $95,400 at the national average.

What it costs to live in Minneapolis

MeasureMinneapolisUS average
Cost-of-living index105100
Median rent$1,329/mo-
Median home value$345,600-
Median household income$80,269-
Population426,845-

Monthly cost breakdown in Minneapolis

Estimates use BLS Consumer Expenditure Survey shares scaled by the local cost-of-living index. Housing uses the city’s median rent; the owning column uses a 30-year mortgage at 6.7% with 10% down on the median home.

CategoryRentingOwning
Housing$1,329$2,007
Transport$1,150$1,150
Food$905$905
Healthcare$568$568
Other$2,019$2,019
Total$5,971$6,649

Affordability in Minneapolis

Median rent takes about 19.9% of the median household income in Minneapolis — comfortably inside the 30% rule of thumb.

The median home costs 4.3x the median household income. Three times income is the traditional comfort line; five times is where affordability usually breaks down.

Highest-paying roles in Minneapolis

RoleTypical salaryWorth nationally
Marketing Manager$167,410$159,709
Software Developer$127,720$121,845
Data Scientist$114,560$109,290
Financial Analyst$101,470$96,802
Registered Nurse$100,800$96,163
Dental Hygienist$100,650$96,020
Mechanical Engineer$98,740$94,198
Physical Therapist$97,160$92,690

“Worth nationally” adjusts each salary for Minneapolis’s cost of living, so you can compare offers between cities on equal terms.

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Frequently asked questions

Minneapolis has a cost-of-living index of 105 against a US average of 100, so it is about 5% above the national average. In practical terms, $100,000 of income in Minneapolis has roughly the purchasing power of $95,400 at the national average.

A common benchmark is keeping rent at or under 30% of gross income. At Minneapolis's median rent of $1,329/month that implies about $53,160 a year before tax. The median household in Minneapolis earns $80,269.

Renting, a single household spends roughly $5,971 a month in Minneapolis across housing, transport, food, healthcare and everything else. Buying at the median home price, the estimate is about $6,649 a month including a 30-year mortgage at 6.7% with 10% down.

The median home in Minneapolis costs $345,600, which is 4.3x the median household income of $80,269. Lenders traditionally treat 3x as comfortable and about 5x as stretched, so Minneapolis is manageable but tight.