Minneapolis, MN Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2021-02-06
108
Minneapolis's Overall Cost Of Living
1.1x
Higher Than The National Average
88 out of 147
In Minnesota
3,964 out of 6,399
In America
The cost of living index is set to 100 for the average place in America. An index above 100 means Minneapolis is expensive, while a number below 100 means it's a relatively cheap place to live.

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 108 which is 1.1x higher than the national index of 100.

Compared to only Minnesota, Minneapolis has a cost of living index that's 1.0x higher than Minnesota's index of 104.

The standard of living in Minneapolis ranks as #3,965 most affordable out of the 6,522 places we measured in Minnesota. By definition, that implies Minneapolis ranks as the #2,441 most expensive place in the North Star State.

For more reading on life in Minneapolis, check out:

Minneapolis Cost Of Living Vs. Minnesota

Living Expense Minneapolis Minnesota National Average
Overall 108 104 100
Services 113 109 100
Groceries 103 106 100
Health 103 110 100
Housing 109 100 100
Transportation 104 100 100
Utilities 97 98 100
For more reading on cost of living around Minnesota, check out:
Minneapolis Cost of Living Vs. MN

Minneapolis, MN Housing Cost Breakdown

Housing swings affordability the most between places in Minnesota, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.

Home and income come data comes from the most recent US Census ACS 2014-2018.

$251,600
Median Home Value
$1,027
Median Rent
$62,583
Median Income
Statistic Minneapolis Minnesota United States
Median Home Value $251,600 $223,900 $217,500
Median Rent $1,027 $977 $1,062
Median Income $62,583 $71,306 $62,843
Home Value To Income 4.0x 3.1x 3.5x
Rent To Monthly Income 0.2x 0.16x 0.2x

Detailed Minneapolis Services Costs Vs. Minnesota

Item Minneapolis Minnesota
Shampoo $1.08 $1.01
Movie $10.43 $10.72
Bowling $21.05 $13.86

Detailed Minneapolis Groceries Costs Vs. Minnesota

Item Minneapolis Minnesota
Ground Beef $4.52 $3.9
Fried Chicken $2.1 $1.4
Milk $2.62 $1.96

Detailed Minneapolis Health Costs Vs. Minnesota

Item Minneapolis Minnesota
Haircut $24.49 $17.49
Beauty Salon $34.71 $38.17
Toothpaste $3.37 $2.32

Detailed Minneapolis Transportation Costs Vs. Minnesota

Item Minneapolis Minnesota
Potatoes $3.36 $3.18
Pizza $12.73 $10.39
Beer $8.91 $9.23
Optometrist $89.9 $106.34
Doctor $150.44 $115.25
Dentist $85.78 $98.38

Detailed Minneapolis Utilities Costs Vs. Minnesota

Item Minneapolis Minnesota
Gasoline $2.47 $2.59
Tire Balancing $59.72 $48.9
All Electricity $162.02 $167.6
Phone $178.08 $163.42

Minneapolis SnackAbility

7
/10
Overall SnackAbility
Jobs
8/10
Housing
8.5
Affordability
6
Diversity
9
Safety
3
Amenities
10
Education
8
Commute
8

Cost Of Living In Cities Around Minneapolis

City Population Cost Of Living Vs. Minneapolis
Plymouth, MN 78,134 122 1.1x
Maple Grove, MN 70,627 117 1.1x
Woodbury, MN 69,906 120 1.1x
Eden Prairie, MN 64,179 123 1.1x
Lakeville, MN 63,915 116 1.1x
Minnetonka, MN 53,025 121 1.1x
Edina, MN 51,746 135 1.2x
St. Louis Park, MN 48,677 112 1.0x
Richfield, MN 36,063 105 1.0x
Roseville, MN 36,026 109 1.0x

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