2026 cost of living data for Minneapolis. Overall cost index: 110 (national avg = 100).
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Minneapolis is above the national average in terms of cost, with an overall cost of living index of 110. This means living in Minneapolis is approximately 10% more expensive than the national average.
Housing costs are notably higher than the national average, which is a significant factor in the overall cost of living. The housing index for Minneapolis is 118, which means housing costs are 18% above the national average. This includes both rental prices and home purchase costs in the metropolitan area.
The median household income in Minneapolis is $64,231, with a population of approximately 429,954. The median household income is moderate, providing a reasonable standard of living relative to local costs.
Minneapolis boasts a thriving job market with strong opportunities across multiple industries, including technology, finance, and healthcare.
Beyond housing, daily expenses in Minneapolis are near the national average. Groceries and dining carry an index of 102, while transportation costs sit at 105. Healthcare expenses index at 105, and utilities come in at 92.
Taxes in Minneapolis are above average at 110, which factors into the overall cost of living. State income taxes and local levies contribute to the higher burden.
The climate can be challenging, with harsh winters and significant seasonal temperature swings that residents should prepare for.
Safety in Minneapolis is comparable to other cities of similar size, with some neighborhoods being safer than others.
Minneapolis provides a balanced combination of affordability and quality of life that appeals to a wide range of residents. With a thriving job market and cold/harsh weather, Minneapolis continues to attract new residents drawn by the favorable cost of living.
