Median one-bedroom rent across the cities we track is $1,192 in Minnesota versus $1,705 in New York. Overall, Minnesota runs roughly 30% cheaper on rent than New York, its main day-to-day cost driver.
Median household income across tracked cities is $80,269 in Minnesota and $79,713 in New York — about 1% higher in Minnesota. Minnesota has a top state income tax rate of 9.85% and a 6.875% state sales tax; New York has a top state income tax rate of 10.90% and a 4% state sales tax.
State Taxes
Sales Tax
6.875%
4%
+2.9 pp in Minnesota
Income Tax (top rate)
9.85%
10.90%
+1.1 pp in New York
Housing (median across tracked cities)
Median 1BR Rent
$1,192
$1,705
+43% in New York
Median Home Value
$345,600
$751,700
+118% in New York
Income (median across tracked cities)
Median Household Income
$80,269
$79,713
+1% in Minnesota
Climate (median across tracked cities)
Avg Annual Temperature
47.4°F
55.0°F
+7.6°F in New York
Minnesota vs New York — FAQ
- Is it cheaper to live in Minnesota or New York?
- Minnesota is cheaper on rent — its median one-bedroom of $1,192 runs about 30% below New York's $1,705, based on the cities we track in each state.
- How much more do you need to earn to live in Minnesota than in New York?
- To keep rent near the recommended 30% of gross income, based on median rent across tracked cities, you'd want to earn roughly $48,000 a year in Minnesota versus $68,000 in New York.
- Which has lower taxes, Minnesota or New York?
- Minnesota has a top state income tax rate of 9.85% and a 6.875% state sales tax. New York has a top state income tax rate of 10.90% and a 4% state sales tax.
Housing, income, and climate are medians across the 1/1 cities we track in Minnesota/New York — not population-weighted statewide figures. Taxes are exact state-level rates. Sources: US Census Bureau, ACS 5-Year; NOAA Climate Normals 1981–2010; Tax Foundation 2026.