Cost of Living in Minneapolis, MN

Population 429,606 · Minnesota

Compare with:

Median Rent

Studio

$992

1 Bedroom

$1,192

2 Bedroom

$1,555

3 Bedroom

$1,761

Buying a Home

Median Home Value

$345,600

Income

Median Household Income

$80,269

Metro Median Wage (annual)

$59,320

Household income: Census ACS, city. Metro median wage: BLS OEWS, all occupations, 2025 (metro area).

The People & Lifestyle

Median Age

33.0 yrs

Homeownership

48.0%

Bachelor's+ (25+)

54.5%

Avg Commute

22.5 min

Crime

Violent Crime (per 100k/yr)

1,167.8

Property Crime (per 100k/yr)

5,182.6

FBI Crime Data Explorer, Minneapolis Police Department (2024). Offenses per 100,000 residents per year. Agency reporting practices vary, so cross-city comparisons are approximate.

Climate

Avg Annual Temperature

47.4°F

Annual Precipitation

32.8 in

Gas

Regular Gasoline (Minnesota)

$4.25/gal

EIA weekly retail average, week of 2026-05-25.

Public Transit

Base Fare (Metro Transit)

$2.00

Adult base one-way fare on the primary agency (2026).

Utilities

Electricity

15.1¢/kWh

Natural Gas

$14.33/MCF

Residential, state-level averages (EIA, 2026-03-01). MCF = 1,000 cubic feet.

Groceries

Milk (gal)

$4.14

Bread (lb)

$1.79

Eggs (doz)

$3.63

Ground Beef (lb)

$6.97

Chicken (lb)

$2.15

Bananas (lb)

$0.63

Average prices, Midwest (BLS, 2026-04-01). Regional where available, otherwise U.S. average.

State Taxes (MN)

State Sales Tax

6.88%

State Income Tax (top rate)

Up to 9.85%

State-level rates. Local sales taxes may add more. Income tax shown is the top marginal rate; most filers pay less.

Sources: US Census Bureau, ACS 5-Year (rent, income, home value, demographics); NOAA Climate Normals 1981-2010 (climate); EIA (gas, utilities); BLS Average Price Data (groceries) & OEWS (metro wage); transit agencies (fares); FBI Crime Data Explorer (crime); Tax Foundation 2026 (state taxes).