Side-by-side cost of living comparison for 2026
Median Income: $64,231
Population: 429,954
Median Income: $65,781
Population: 2,693,976
When comparing Minneapolis and Chicago, the overall cost of living is remarkably similar. Chicago carries a cost index of 112 compared to Minneapolis's 110, meaning your dollar stretches 2% further in Minneapolis.
Housing is where the most significant gap appears between these two cities. Chicago has a housing index of 118 compared to Minneapolis's 118. This 0-point difference translates to substantial monthly savings on rent or mortgage payments in Chicago.
Minneapolis is more affordable for: Food & Groceries, Transportation, Healthcare, Utilities, Entertainment, Taxes.
If you earn $60,000 in Minneapolis, you would need $61,091 in Chicago to maintain the same standard of living. For a $100,000 salary, the equivalent would be $101,818.
The median household income in Minneapolis is $64,231 compared to $65,781 in Chicago. Chicago has higher incomes, though the higher cost of living may offset this advantage.
Safety: Minneapolis scores 5/10 while Chicago scores 4/10 in our safety assessment.
Weather: Chicago enjoys better weather with a score of 4/10 versus Minneapolis's 2/10.
Job Market: Minneapolis's job market (8/10) is stronger than Chicago's (7/10).
Minneapolis is the more affordable option overall, but cost is just one factor in deciding where to live. Consider your career opportunities, family needs, and lifestyle preferences alongside the financial comparison. Chicago may justify its higher costs with unique cultural amenities that many residents find worthwhile.
