What is the cost of living in Minneapolis, MN?
According to the most recent data on the cost of living, Minneapolis has an overall cost of living index of 116, which is 1.2x higher than the national index of 100.
Compared to Minnesota, Minneapolis has a cost of living index that's 1.1x higher than Minnesota's index of 101.
The standard of living in Minneapolis ranks as #117 most affordable out of the 151 places we measured in Minnesota. By definition, that implies Minneapolis ranks as the #34 most expensive place in the North Star State.
For more reading on life in Minneapolis, check out:
Minneapolis Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Minneapolis. Here is how it fares on each of the criteria:
The Services index in Minneapolis is 103.
The Groceries index in Minneapolis is 100.
The Health index in Minneapolis is 142.
The Housing index in Minneapolis is 103.
The Transportation index in Minneapolis is 107.
The Utilities index in Minneapolis is 105.
| Living Expense | Minneapolis | Minnesota | National Average |
|---|---|---|---|
| Overall | 116 | 101 | 100 |
| Services | 103 | 101 | 100 |
| Groceries | 100 | 99 | 100 |
| Health | 142 | 99 | 100 |
| Housing | 103 | 101 | 100 |
| Transportation | 107 | 103 | 100 |
| Utilities | 105 | 101 | 100 |
Minneapolis Cost Of Living Compared To Minnesota Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Minnesota, check out:
Protect your home budget Compare home warranties in Minneapolis Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Minneapolis, MN Housing Cost Breakdown
Housing swings affordability the most between places in Minnesota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Minneapolis is $330,882.
The Median Rent in Minneapolis is $1,371.
The Median Income in Minneapolis is $80,846.
The Home Value To Income in Minneapolis is 4.1x.
The Rent To Monthly Income in Minneapolis is 0.2x.
| Statistic | Minneapolis | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $330,882 | $346,667 | $332,700 |
| Median Rent | $1,371 | $1,280 | $1,413 |
| Median Income | $80,846 | $89,062 | $80,734 |
| Home Value To Income | 4.1x | 3.9x | 4.1x |
| Rent To Monthly Income | 0.2x | 0.17x | 0.21x |
Minneapolis, MN Costs By Category
Detailed Minneapolis Services costs vs. Minnesota
| Item | Minneapolis | Minnesota |
|---|---|---|
| Shampoo | $1.5 | $1.28 |
| Movie | $11.32 | $12.13 |
| Bowling | $25.68 | $18 |
| Haircut | $25.86 | $24.26 |
| Beauty Salon | $37.0 | $45.56 |
Detailed Minneapolis Groceries costs vs. Minnesota
| Item | Minneapolis | Minnesota |
|---|---|---|
| Ground Beef | $5.75 | $5.84 |
| Fried Chicken | $1.4 | $1.57 |
| Milk | $4.6 | $4.67 |
| Potatoes | $4.76 | $4.93 |
| Pizza | $13.0 | $12.09 |
| Beer | $9.44 | $10.41 |
| Toothpaste | $3.62 | $3.7 |
Detailed Minneapolis Health costs vs. Minnesota
| Item | Minneapolis | Minnesota |
|---|---|---|
| Optometrist | $112.72 | $125.68 |
| Doctor | $164.15 | $135.78 |
| Dentist | $95.01 | $113.29 |
Detailed Minneapolis Transportation costs vs. Minnesota
| Item | Minneapolis | Minnesota |
|---|---|---|
| Gasoline | $3.32 | $3.46 |
| Tire Balancing | $59.91 | $59.92 |
Detailed Minneapolis Utilities costs vs. Minnesota
| Item | Minneapolis | Minnesota |
|---|---|---|
| All Electricity | $180.11 | $193.99 |
| Phone | $187.59 | $192.25 |
Minneapolis SnackAbility
Cost Of Living In Cities Around Minneapolis
The cost of living varies in the cities and towns around Minneapolis. Here's a quick look at the cost of living in the most populous nearby places:
Plymouth, MN has a cost of living index of 124, 1.1x Minneapolis.
Woodbury, MN has a cost of living index of 120, 1.0x Minneapolis.
Lakeville, MN has a cost of living index of 122, 1.1x Minneapolis.
| City | Population | Cost Of Living | Vs. Minneapolis |
|---|---|---|---|
| Plymouth, MN | 79,220 | 124 | 1.1x |
| Woodbury, MN | 78,305 | 120 | 1.0x |
| Lakeville, MN | 74,354 | 122 | 1.1x |
| Maple Grove, MN | 71,173 | 117 | 1.0x |
| Eden Prairie, MN | 63,051 | 128 | 1.1x |
| Edina, MN | 53,262 | 141 | 1.2x |
| Minnetonka, MN | 53,064 | 127 | 1.1x |
| St. Louis Park, MN | 49,594 | 116 | 1.0x |
| Richfield, MN | 36,642 | 106 | 0.9x |
| Roseville, MN | 35,802 | 113 | 1.0x |
