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Minneapolis-St. Paul-Bloomington, MN-WI

Cost of living in Minneapolis, Minnesota

Hennepin County, MN

Part of the Minneapolis Metro Area

Estimated monthly cost
$3,699/mo
for a single person, all categories combined

Population 1,268,903 · Last updated May 21, 2026

Cost breakdown

Single person, by category, per month.

Rent $1,381 37%
Federal tax $736 20%
Healthcare $480 13%
Groceries $340 9%
State tax $275 7%
Transport $250 7%
Energy $187 5%
Water $50 1%

Rent in Minneapolis

Fair Market Rents by bedroom count.

Studio
$1,220
per month
1 bedroom
$1,381
per month
2 bedroom
$1,685
per month
3 bedroom
$2,244
per month
4 bedroom
$2,513
per month

Source: HUD FMR FY2025

Income and earnings in Minneapolis

Annual earnings figures from the Census ACS.

Household income
$96,339
per year
Individual earnings
$55,015
per year
Per capita
$57,633
per year

Source: ACS 2019-2023 5-Year.

Home values in Minneapolis

Average values reported by homeowners.

Average home value
$376,500
Annual property tax
$4,337

Source: ACS 2019-2023 5-Year

Energy costs in Minneapolis

Estimated monthly electricity and gas costs.

Electricity
$124
per month · 15.5¢/kWh
Natural gas
$63
per month
Annual total
$2,244
per year

Source: EIA

Healthcare in Minneapolis

Insurance premiums and coverage rates.

Individual premium
$480
per month
Family premium
$1,350
per month
Uninsured rate
4.5%

Source: ACS + national avg. Marketplace benchmark premiums are second-lowest Silver plan estimates and do not reflect employer plans, subsidies, or out-of-pocket costs. This is not healthcare advice.

Taxes in Minneapolis

State and local tax rates for Minnesota.

State income tax
9.8%
Top marginal rate
State sales tax
6.9%
Combined sales tax
7.5%
incl. average local

Tax rates change. Consult a qualified tax professional for advice on your specific situation. This is not tax advice.

Transportation in Minneapolis

Commute patterns and estimated costs.

Average commute
22.4 min
Drive alone
62.1%
Public transit
4.0%
Work from home
22.4%

Source: ACS

Monthly cost estimates for Minneapolis

What it costs to live in Minneapolis each month.

Single person
$3,699
per month
  • Rent $1,381
  • Energy $187
  • Water $50
  • Groceries $340
  • Transport $250
  • Healthcare $480
  • Federal tax $736
  • State tax $275
Couple
$5,503
per month
  • Rent $1,685
  • Energy $224
  • Water $60
  • Groceries $563
  • Transport $350
  • Healthcare $864
  • Federal tax $1,247
  • State tax $510
Family
$8,206
per month
  • Rent $2,244
  • Energy $280
  • Water $70
  • Groceries $855
  • Transport $450
  • Healthcare $1,350
  • Childcare $1,200
  • Federal tax $1,247
  • State tax $510

Frequently asked questions about Minneapolis

Common questions about cost of living, rent and salary.

What is the average rent in Minneapolis?

In Minneapolis, Minnesota, a one-bedroom apartment averages $1,381 per month, a two-bedroom averages $1,685 per month, a three-bedroom averages $2,244 per month, according to HUD Fair Market Rent data.

What is the average salary in Minneapolis?

In Minneapolis, Minnesota, the average household income is $96,339 per year and individual earnings for full-time workers average $55,015 per year, according to U.S. Census Bureau data.

What is the cost of living in Minneapolis?

The estimated cost of living in Minneapolis, Minnesota is approximately $3,699 per month for a single person, $5,503 for a couple, $8,206 for a family. This includes rent, utilities, groceries, transportation, healthcare, and taxes.

What is the sales tax rate in Minneapolis?

The combined sales tax rate in Minneapolis, Minnesota is 7.54%, which includes the Minnesota state rate of 6.88% plus an average local rate of 0.66%.

Is Minneapolis an affordable place to live?

Based on the data, a single person in Minneapolis, Minnesota would need approximately $3,699 per month to cover rent, utilities, food, transport, healthcare, and taxes. The average household income is $96,339 per year ($8,028 per month). Minneapolis is relatively affordable compared to the national average.

How much does healthcare cost in Minneapolis?

The ACA marketplace benchmark premium in Minneapolis, Minnesota is approximately $480 per month for an individual. Approximately 4.5% of residents are uninsured. Actual costs vary based on employer coverage, plan type, and individual circumstances.

What are house prices in Minneapolis?

The average home value in Minneapolis, Minnesota is $376,500, with average annual property taxes of $4,337, according to U.S. Census Bureau data.

How does Minneapolis compare to other areas?

You can compare Minneapolis, Minnesota with any other US county using our comparison tool at /compare. Minneapolis is in the Minneapolis-St. Paul-Bloomington, MN-WI metro area.

Other counties in Minnesota

Browse the full list of counties in Minnesota, ranked by cost of living.

See all counties in Minnesota

Compare Minneapolis with another area

Put two counties side by side to see how rent, taxes and everyday costs stack up.

About this data

All figures on this page come from official U.S. government sources, listed below.

  • HUD FMR FY2025
  • ACS 2019-2023 5-Year
  • EIA
  • ACS + national avg
  • ACS
  • USDA + BEA RPP
Methodology All data sources