Hennepin County · Minnesota · Midwest · 427k residents
Minneapolis, MN: cost of living, taxes & quality of life
Residential facts for Minneapolis: housing, taxes, monthly costs, climate, schools, and household income, with the Minnesota median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: Curated city row; coverage varies by fact.
The median home value in Minneapolis is $330,000, 7% below the Minnesota median. A two-bedroom rents for about $1,750/mo. Day-to-day costs index at 100 against a national baseline of 100. The median household here earns $76,000 a year.
What the numbers show
Source-confirmed findingsLimited coverage: This profile does not yet have enough source-confirmed local data for a city brief.
This profile does not yet have enough source-confirmed local data for a city brief.
Source: U.S. Census Bureau, 2024 American Community Survey 5-year estimates(2024 ACS 5-year; tables B01003, B15003, B19013, B25077). Geography: Census place where available. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
WhereToHQ calculates the comparisons. Figures are estimates for context, not a guarantee or personal financial advice. Read the methodology or send a correction.
What makes this place distinctive
A factual snapshot of the place, based on the profile data. It is not a tourism or cultural claim.
A lakes-and-bike-trails city with a serious music, theater, and civic-design streak.
Known for: Lakes, parks, theater, Prince’s musical legacy, Nordic heritage, and cycling.
Calendar note: The Minneapolis Aquatennial and Basilica Block Party are annual traditions.
Story source: Meet Minneapolis
- Scale: A large city with a quarter-million or more residents in the profile data.
- Setting: The profile places Minneapolis about 16 miles from the nearest tracked lake.
- Climate signal: The profile records 198 sunny days.
- Daily pace: The profile records a walk score of 71 and an average commute of 24 minutes.
WhereToHQ derives these signals from the committed city dataset. Read the methodology for coverage and source limits.
Compare Minneapolis side by side
Cost of living index
100
Median home value
$330,000
2-bedroom rent
$1,750/mo
Median household income
$76,000
Housing momentum
How fast Minneapolis's housing market is moving, ranked against the US cities we track.
55/100
Steady
Ranks Minneapolis's home-price and rent growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. Not investment or relocation advice.
Adjusted by Minneapolis's cost-of-living index versus the US average.
| Median home value | $330,000 |
| Price per sq. ft. | $230 |
| Property tax rate | 1.35% |
| 1-bedroom rent | $1,350/mo |
| 2-bedroom rent | $1,750/mo |
| State & local income tax | 3.68% |
| Sales tax | 8.03% |
| Cost of living index | 100 |
| Groceries index | 101 |
| Utilities | $165/mo |
| Transit pass | $90/mo |
| Gas price | $3.15/gal |
| Healthcare index | 104 |
| Childcare (per child) | $1,700/mo |
| Median household income | $76,000 |
| Unemployment rate | 3.2% |
| Population | 427k |
| Crime index | 52/100 |
| School rating | 6.5/10 |
| Walkability | 71/100 |
| Disaster risk | 98/100 |
| Avg. commute | 24 min |
| Sunny days / year | 198 days |
| July high | 83°F |
| January low | 8°F |
| Annual snowfall | — |
| Home price YoY | +1.2% |
| Home price MoM | -0.5% |
| Rent YoY | +4.2% |
| Rent MoM | +0.3% |
| Ocean coast | 1026 mi |
| Big lake | 16 mi |
| Mountains | 491 mi |
| Major airport | 8 mi |
| Ski resort | 130 mi |
Popular comparisons
Nearby
- Golden Valley, MN · 22k
- Columbia Heights, MN · 22k
- Crystal, MN · 22k
- Roseville, MN · 36k
- Brooklyn Center, MN · 32k
Similar size
- St. Paul, MN · 307k
- Rochester, MN · 122k
- Bloomington, MN · 89k
- Duluth, MN · 87k
- Brooklyn Park, MN · 84k
Real listings in Minneapolis
Homes on Zillow ↗Realtor.com ↗Rentals on Zillow ↗Apartments.com ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- What is the cost of living in Minneapolis, MN?
- Minneapolis indexes at 100 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,750/mo and a median home value of $330,000.
- How much does a house cost in Minneapolis?
- The median home value in Minneapolis is $330,000, 7% below the Minnesota median (compiled estimate; individual listings vary).
- How much is rent in Minneapolis?
- A two-bedroom in Minneapolis rents for about $1,750/mo.