By Ziv Shay | Updated April 2026
Side-by-side cost of living comparison for 2026
Median Income: $64,231
Population: 429,954
Median Income: $60,931
Population: 1,608,139
When comparing Minneapolis and Phoenix, the overall cost of living differs by 9.1%. Minneapolis carries a cost index of 110 compared to Phoenix's 100, meaning your dollar stretches 9% further in Phoenix.
Housing is where the most significant gap appears between these two cities. Phoenix has a housing index of 102 compared to Minneapolis's 118. This 16-point difference translates to substantial monthly savings on rent or mortgage payments in Phoenix.
Minneapolis is more affordable for: Utilities.
Phoenix is more affordable for: Housing, Food & Groceries, Transportation, Healthcare, Entertainment, Taxes.
If you earn $60,000 in Minneapolis, you would need $54,545 in Phoenix to maintain the same standard of living. For a $100,000 salary, the equivalent would be $90,909.
The median household income in Minneapolis is $64,231 compared to $60,931 in Phoenix. While Minneapolis has higher incomes, the higher cost of living may offset this advantage.
Safety: Minneapolis scores 5/10 while Phoenix scores 6/10 in our safety assessment.
Weather: Phoenix enjoys better weather with a score of 7/10 versus Minneapolis's 2/10.
Job Market: Minneapolis's job market (8/10) is stronger than Phoenix's (7/10).
Phoenix 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. Minneapolis may justify its higher costs with a thriving job market that many residents find worthwhile.
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