Is it cheaper to live in Denver or Minneapolis?

Minneapolis, MN is cheaper. Its monthly baseline of $1,350 (1BR rent + utilities) runs about 23% below Denver, CO's $1,750, mainly because of rent.

How much more do you need to earn to live in Denver than in Minneapolis?

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $63,000 a year in Denver versus $48,000 in Minneapolis.

Which has lower taxes, Denver or Minneapolis?

Denver is taxed under Colorado's rules (a top state income tax rate of 4.40% and a 2.9% state sales tax); Minneapolis under Minnesota's (a top state income tax rate of 9.85% and a 6.875% state sales tax).

Denver vs Minneapolis Cost of Living 2026

Denver

Colorado

$1,750/mo est.

Minneapolis

Minnesota

$1,350/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,750 in Denver, CO versus $1,350 in Minneapolis, MN. Overall, Minneapolis, MN is roughly 23% cheaper to live in day-to-day than Denver, CO, driven mainly by rent.

Median household income is $91,681 in Denver, CO and $80,269 in Minneapolis, MN — about 12% higher in Denver, CO. Colorado has a top state income tax rate of 4.40% and a 2.9% state sales tax; Minnesota has a top state income tax rate of 9.85% and a 6.875% state sales tax.

Denver, CO

Minneapolis, MN

Rent

Studio

$1,497

$992

+34% in Denver, CO

1 Bedroom

$1,583

$1,192

+25% in Denver, CO

2 Bedroom

$1,958

$1,555

+21% in Denver, CO

3 Bedroom

$2,269

$1,761

+22% in Denver, CO

Buying a Home

Median Home Value

$586,700

$345,600

+41% in Denver, CO

Income

Median Household Income

$91,681

$80,269

+12% in Denver, CO

Metro Median Wage (annual)

$62,320

$59,320

+5% in Denver, CO

People & Lifestyle

Median Age

35.2 yr

33.0 yr

+2.2 yr in Denver, CO

Homeownership

49.1%

48.0%

+1.1 pp in Denver, CO

Bachelor's+ (25+)

55.6%

54.5%

+1.1 pp in Denver, CO

Avg Commute

25.4 min

22.5 min

+2.9 min in Denver, CO

Crime (per 100k/yr)

Violent Crime

998.3

1,167.8

+17% in Minneapolis, MN

Property Crime

4,781.9

5,182.6

+8% in Minneapolis, MN

FBI Crime Data Explorer. Offenses per 100,000 residents per year; agency reporting practices vary, so this is approximate.

Climate

Avg Annual Temperature

50.2°F

47.4°F

+2.8°F in Denver, CO

Annual Precipitation

15.6 in

32.8 in

+17.2 in in Minneapolis, MN

Gas

Regular Gasoline

$4.58/gal

$4.25/gal

+7% in Denver, CO

Area: Denver vs Minnesota.

Public Transit

Base Fare (one-way)

$2.75

$2.00

+27% in Denver, CO

Adult base one-way fare — RTD vs Metro Transit (2026).

Utilities

Electricity (¢/kWh)

16.7

15.1

+10% in Denver, CO

Natural Gas ($/MCF)

$11.64

$14.33

+23% in Minneapolis, MN

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

Groceries

Milk (gal)

$4.37

$4.14

+5% in Denver, CO

Bread (lb)

$2.10

$1.79

+15% in Denver, CO

Eggs (doz)

$2.25

$3.63

+61% in Minneapolis, MN

Ground Beef (lb)

$7.23

$6.97

+4% in Denver, CO

Chicken (lb)

$2.14

$2.15

+1% in Minneapolis, MN

Bananas (lb)

$0.74

$0.63

+15% in Denver, CO

Average prices — West vs Midwest (BLS). Regional where available, otherwise U.S. average.

State Taxes

Sales Tax (CO / MN)

2.9%

6.875%

+4.0 pp in MN

Income Tax (top rate)

4.40%

9.85%

+5.4 pp in MN

Denver vs Minneapolis — FAQ

Is it cheaper to live in Denver or Minneapolis?: Minneapolis, MN is cheaper. Its monthly baseline of $1,350 (1BR rent + utilities) runs about 23% below Denver, CO's $1,750, mainly because of rent.
How much more do you need to earn to live in Denver than in Minneapolis?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $63,000 a year in Denver versus $48,000 in Minneapolis.
Which has lower taxes, Denver or Minneapolis?: Denver is taxed under Colorado's rules (a top state income tax rate of 4.40% and a 2.9% state sales tax); Minneapolis under Minnesota's (a top state income tax rate of 9.85% and a 6.875% state sales tax).

Sources: US Census Bureau, ACS 5-Year (rent, income, home value, demographics); NOAA Climate Normals 1981–2010 (climate); EIA weekly retail (gas); Tax Foundation 2026 (state taxes).