Cost of living in Minneapolis — is your salary enough?
Minneapolis median rent is around $1,400/month, low for a major metro with a diverse professional economy. Minneapolis consistently ranks among the better US cities for mid-income savings, with low housing costs offsetting cold-climate expenses.
Rent in Minneapolis
Other monthly costs
How different incomes stack up
At typical Minneapolis costs ($1,400 rent)
See your personal verdict for Minneapolis
Cost figures are estimates based on reported median rents and typical spending patterns. Savings benchmarks from BLS Consumer Expenditure Survey 2023. Figures in USD.
Frequently asked questions — Living in Minneapolis
How much does it cost to live in Minneapolis?+
Core monthly costs in Minneapolis run about $3,000 — roughly $1,400 for rent and $1,600 for other living expenses (food, transport, utilities, basics). Minneapolis median rent is around $1,400/month, low for a major metro with a diverse professional economy.
What is the median rent in Minneapolis?+
The median rent in Minneapolis is around $1,400 per month. Minneapolis is classified as a moderate cost cost-of-living city in United States.
What salary do you need to live comfortably in Minneapolis?+
Using the 70%-rule (core costs ≤ 70% of gross), you need roughly $51,429 per year before tax to live comfortably in Minneapolis. That leaves room to hit the 12% savings benchmark for United States.
Is Minneapolis expensive compared to the rest of United States?+
Minneapolis sits in the moderate cost tier within United States. Minneapolis consistently ranks among the better US cities for mid-income savings, with low housing costs offsetting cold-climate expenses.
How much of your income should rent take in Minneapolis?+
The standard rule is no more than 30% of gross income on rent. At $1,400/month in Minneapolis, that means a gross income of at least $56,000 per year to stay under the 30% threshold.
Can you still save money living in Minneapolis?+
Yes — the United States benchmark for mid-income earners is 12% of gross income. In a moderate cost city like Minneapolis, hitting that rate is comfortably achievable for most mid-income households.