Route comparison
Chicago, IL vs Minneapolis, MN: Cost of Living
Compare the cost of living between Chicago, IL and Minneapolis, MN. See the equivalent salary and median rent powered by BLS Regional Price Parities.
Chicago, IL
IL
- Overall RPP (US=100)
- 105.7
- Housing RPP
- 110.9
- Goods RPP
- 106.7
- 2-BR median rent
- $1,714/mo
Illinois flat income tax 4.95%. Chicago city tax adds ~2.25% effective burden.
Minneapolis, MN
MN
- Overall RPP (US=100)
- 102.9
- Housing RPP
- 119.2
- Goods RPP
- 102.7
- 2-BR median rent
- $1,622/mo
Minnesota income tax 5.35%-9.85%. No city income tax.
Equivalent salary
Minneapolis, MN is cheaper than Chicago, IL by about 2.6% (RPP 105.7 to 102.9).
$60,000 in Chicago, IL
-> $58,411
in Minneapolis, MN
$100,000 in Chicago, IL
-> $97,351
in Minneapolis, MN
$150,000 in Chicago, IL
-> $146,026
in Minneapolis, MN
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.
Migration signal: Chicago, IL vs Minneapolis, MN
IRS tax-return migration · 2021-2022Chicago, IL
- Net people
- −73,936
- Net rank
- #63 of 65
- Top origin share
- 1%
- Top destination share
- 2%
Largest source: Los Angeles County, CA. Largest destination: Maricopa County, AZ.
Minneapolis, MN
- Net people
- −12,426
- Net rank
- #52 of 65
- Top origin share
- 1%
- Top destination share
- 1%
Largest source: Stearns County, MN. Largest destination: Stearns County, MN.
Rent delta: Minneapolis, MN is $92/mo lower for HUD FY2024 2-BR FMR than Chicago, IL. Housing RPP moves from 110.9 to 119.2.
Migration figures are derived from IRS SOI county-to-county migration data for 2021-2022, mapped to metros via Census CBSA delineation. Small county-to-county flows are IRS-suppressed, so per-metro totals are lower bounds. Source: IRS SOI migration data.
Frequently asked questions
- Is Minneapolis, MN cheaper or more expensive than Chicago, IL?
- Minneapolis, MN (RPP 102.9) is cheaper than Chicago, IL (RPP 105.7) by about 2.6%.
- What salary do I need in Minneapolis, MN if I earn $100,000 in Chicago, IL?
- You would need approximately $97,351 in Minneapolis, MN to maintain the same purchasing power as $100,000 in Chicago, IL. Formula: $100,000 x (102.9 / 105.7).
- Which metro had stronger net migration, Chicago, IL or Minneapolis, MN?
- For 2021-2022, Chicago, IL had a net loss of 73,936 people, while Minneapolis, MN had a net loss of 12,426 people. IRS small-flow suppression means these are lower-bound research signals, not complete population-change totals.