Savings rate in Minneapolis — are you on track?
Minneapolis is a moderate cost city. 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.
Median rent
$1,400/mo
Minneapolis 2023
Typical other costs
$1,600/mo
excl. housing
Savings benchmark
7–20%
mid-income USD
Pre-set for Minneapolis — adjust to your situation
What a good savings rate looks like in Minneapolis
Using data from BLS Consumer Expenditure Survey 2023, people at mid-range incomes in United States typically save between 7–20% of gross income. In a moderate cost city like Minneapolis, housing costs can compress that meaningfully — especially for renters.
Source: BLS Consumer Expenditure Survey 2023. Benchmarks shown for mid-income earners in United States.