Cost of Living in Minneapolis, MN
Population 429,606 · Minnesota
The cost of living in Minneapolis, MN is driven mostly by housing. A one-bedroom apartment rents for around $1,192 a month — about the same as the $1,223 median across the 50 large US cities we track. Studios average $992 and two-bedrooms $1,555.
Median household income here is $80,269, 6% higher than the $75,900 median of the cities we track. Adding typical electricity and heating to one-bedroom rent, a rough monthly baseline for one person is about $1,350 before food and transport. Minnesota has a top state income tax rate of 9.85% and a 6.875% state sales tax.
Rent1BR $1,192
Buying a Home$345,600
Income$80,269
Household income: Census ACS, city. Metro median wage: BLS OEWS, all occupations, 2025 (metro area).
GroceriesMidwest
Average prices, Midwest (BLS, 2026-04-01). Regional where available, otherwise U.S. average.
Utilities15.1¢/kWh
Residential, state-level averages (EIA, 2026-03-01). MCF = 1,000 cubic feet.
Gas$4.25/gal
EIA weekly retail average, week of 2026-05-25.
Public Transit$2.00
Adult base one-way fare on the primary agency (2026).
State Taxes (MN)6.875% sales
State-level rates. Local sales taxes may add more. Income tax shown is the top marginal rate; most filers pay less.
Crime1,167.8 violent
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.
People & LifestyleAge 33.0 yrs
Climate47.4°F
Minneapolis cost of living — FAQ
- Is Minneapolis expensive to live in?
- Minneapolis is around the middle of the 50 US cities we track. Its one-bedroom rent of $1,192 per month ranks #26 of 50 and is about the same as the $1,223 median.
- What is the average rent in Minneapolis?
- Average rent in Minneapolis, MN runs a studio around $992, a one-bedroom around $1,192, a two-bedroom around $1,555, a three-bedroom around $1,761 per month (US Census ACS).
- How much do you need to earn to live in Minneapolis?
- To keep a one-bedroom rent of $1,192 near the recommended 30% of gross income, you'd want to earn roughly $48,000 a year. The median household income here is $80,269.
- How much does it cost to live in Minneapolis per month?
- A rough monthly baseline for one person in Minneapolis is about $1,350 — one-bedroom rent plus typical residential electricity and heating. It excludes food, transport, and healthcare, so a full budget is higher.
Compare Minneapolis with nearby cities
Nearby cities
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). Monthly estimate = 1BR rent + utilities; not a full cost of living.