Minneapolis, Minnesota has an overall cost of living index of 104.3, which is 4.3 points above the US average of 100 — making it pricier than most American cities. Renters pay a median of $1,371 per month, while the typical home is valued around $362,200. Households earn a median of $80,846 per year, leaving rent at a manageable share of income for many residents. Air quality is moderate, with an average AQI of 55. Below: housing costs, local wages by occupation, neighborhoods, climate, jobs and major industries, and healthcare access — all drawn from US Census, BEA, BLS, HUD, EPA, and NOAA data.
Median Household Income
$80,846
Annual · Census ACS
Median Gross Rent
$1,371
Per month · Census ACS
Median Home Value
$362,200
Census ACS
Cost of Living Index
104.3
BEA RPP · US avg = 100
1BR Fair Market Rent
N/A
HUD FMR
2BR Fair Market Rent
N/A
HUD FMR
3BR Fair Market Rent
N/A
HUD FMR
HUD Fair Market Rent = 40th percentile gross rent · FY2024
Each category is indexed to the US average of 100. Below 100 = cheaper than average.
Overall
104.3
Goods
104.5
Rents / Housing
110.3
Services
89.8
Source: BEA Regional Price Parities (metro-level)
| Occupation | Median Annual Wage |
|---|---|
| 💻Software Developer | $125,980 |
| 🏥Registered Nurse | $102,790 |
| 📚Elementary Teacher | $74,150 |
| ⚡Electrician | $86,730 |
| 📊Accountant | $94,420 |
| 🔧Plumber | $89,340 |
| ⚕️Nurse Practitioner | $332,780 |
| 🏗️Civil Engineer | $108,110 |
| 👔Operations Manager | $124,270 |
| 📈Market Research Analyst | $94,290 |
| 🏢Health Services Manager | $139,910 |
| 🚛Truck Driver | $65,290 |
| 👨⚕️Physician Assistant | N/A |
| 🩺Surgeon | N/A |
| 🧮Data Scientist | N/A |
| 🖥️Computer Engineer | $130,550 |
Source: BLS OEWS 2023 (metro-level data)
Population
427,246
Latest estimate
Median Age
33.4 yrs
Census ACS
Average AQI
55.0
Source: EPA AirNow
Total Neighborhoods
5
Tracked in our database
Avg Walk Score
52
0–100 scale
Avg Median Rent
N/A
Per month
Avg Home Value
N/A
Census ACS
January Avg
16°F
July Avg
74°F
Sunny Days / Year
—
Annual Snowfall
—
Climate category: Continental · Source: NOAA/NCEI 30-year normals.
Healthcare Score
31.9
poor
Hospitals
5
Doctors per 1,000
1.00
Insurance Coverage
94.4%
What is the cost of living index for Minneapolis?
Minneapolis has a Regional Price Parity (RPP) index of 104.3. The US national average is 100, so Minneapolis is 4.3 points above the national average.
What is the median rent in Minneapolis?
The median gross rent in Minneapolis is $1,371 per month according to US Census ACS data.
What is the median household income in Minneapolis?
The median household income in Minneapolis is $80,846 per year.
What is the median home value in Minneapolis?
The median home value in Minneapolis is $362,200 based on the latest Census ACS survey.
How is the air quality in Minneapolis?
Minneapolis has an average Air Quality Index (AQI) of 55.0, which is rated "Moderate" by the EPA. Lower AQI values indicate cleaner air.
What are the taxes like in Minneapolis?
Tax data for Minnesota is not yet available.
Data last updated: December 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
