Minneapolis, MN cost of living
MN · BLS RPP 105.8
Overall RPP
105.8
US = 100
Housing RPP
115.4
Housing component
Goods RPP
102.6
Goods component
2-BR Rent (HUD)
$1,540/mo
FY2024 FMR
What salary do you need in Minneapolis, MN?
Equivalent salary to maintain the same purchasing power as in a US-average city (RPP 100).
| In US-average city | You need in Minneapolis, MN | Formula |
|---|---|---|
| $50,000 | $52,900 | $50,000 x (105.8/100) |
| $75,000 | $79,350 | $75,000 x (105.8/100) |
| $100,000 | $105,800 | $100,000 x (105.8/100) |
| $125,000 | $132,250 | $125,000 x (105.8/100) |
| $150,000 | $158,700 | $150,000 x (105.8/100) |
| $200,000 | $211,600 | $200,000 x (105.8/100) |
This tool provides estimates only. Equivalent-salary figures are derived from BLS Regional Price Parities (RPP) and HUD Fair Market Rents — they are averages, not guarantees. Actual cost of living varies by neighborhood, lifestyle, and individual circumstances. Not financial advice.
State income tax note
Minnesota income tax 5.35%-9.85%. No city income tax.
Frequently asked questions
- What is the cost of living in Minneapolis, MN?
- Minneapolis, MN has a BLS Regional Price Parity of 105.8 (US average = 100). It is 5.8% more expensive than the national average.
- What salary do I need to live in Minneapolis, MN?
- If you earn $100,000 in a US-average city (RPP 100), you would need approximately $105,800 in Minneapolis, MN to maintain the same purchasing power.
- What is the average rent in Minneapolis, MN?
- The HUD Fair Market Rent for a 2-bedroom in Minneapolis, MN is approximately $1,540 per month as of FY2024.
Compare with other cities
Buying a home in Minneapolis, MN? See closing costs at TallyClose.