Cost of Living in Minneapolis, MN (2026) (2026)
Minneapolis is a thriving Midwestern city with a Fortune 500 density that rivals any metro in America. Target, UnitedHealth, General Mills, and US Bancorp are headquartered here, offering strong careers alongside surprisingly affordable living.
Avg 1BR Rent
$1,350
Avg 2BR Rent
$1,700
State Tax
6.8%
Median Income
$77,700
Affordability Rating
Tight$1,750/mo rent on $70K in Minneapolis
Rent Affordability by Salary in Minneapolis
| Salary | Take-Home | Max Rent (30%) | After Expenses | ||
|---|---|---|---|---|---|
| $50k | $3,241 | $1,250 | $1,006 | Fair | $50k in Minneapolis |
| $60k | $3,854 | $1,500 | $1,369 | Fair | $60k in Minneapolis |
| $70k | $4,407 | $1,750 | $1,672 | Great Value | $70k in Minneapolis |
| $80k | $4,937 | $2,000 | $1,952 | Great Value | $80k in Minneapolis |
| $90k | $5,466 | $2,250 | $2,231 | Great Value | $90k in Minneapolis |
| $100k | $5,996 | $2,500 | $2,511 | Great Value | $100k in Minneapolis |
Monthly Cost Breakdown in Minneapolis
Living in Minneapolis: What to Expect
Minneapolis is the Midwest's best-kept secret—craft breweries, world-class theaters, and a lakes-and-bikes culture that thrives despite (or because of) the legendary winters.
Best Neighborhoods for Renters
Uptown and Northeast (NE) Minneapolis offer walkable nightlife and dining, while Linden Hills and Southwest are quieter with lake access. North Loop is the trendy warehouse-district loft neighborhood.
Getting Around
The Blue and Green light rail lines connect key corridors, and Minneapolis is one of America's most bike-friendly cities with an extensive trail network—even in winter for the hardy.