Median rent is 16% lower in Albuquerque ($1,145/mo vs $1,371/mo). Buying is cheaper in Albuquerque, where the median home runs $291,500 versus $362,200. Households earn more in Minneapolis ($80,846 vs $68,317 a year). Taken together, Albuquerque is the more affordable choice with a cost index of 93.6 against 104.3 — about 10% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Minneapolis, MN.
Cost of living verdict
Albuquerque is 10% cheaper overall
Cost of Living Index: 93.6 in Albuquerque vs 104.3 in Minneapolis (US national average = 100)
City A
Albuquerque, NM
City B
Minneapolis, MN
How much would you need to earn in Minneapolis, MN to maintain your standard of living from Albuquerque, NM?
Equivalent salary in Minneapolis, MN
$83,551
You'd need $8,551 more (11% higher).
Based on BEA Regional Price Parity (cost index) for each metro area. This estimates overall purchasing power; it does not account for taxes or take-home pay differences.
Metric
Albuquerque
New Mexico
Minneapolis
Minnesota
Population
Median Household Income
Annual
Median Gross Rent
Per month
Median Home Value
Cost of Living Index
US avg = 100
1BR Fair Market Rent
HUD FMR
2BR Fair Market Rent
HUD FMR
3BR Fair Market Rent
HUD FMR
Air Quality Index
Lower = cleaner
Top State Income Tax
Top marginal rate
State Sales Tax
Statewide base rate
Median Age
Years
✓ = better value · Sources: Census ACS, BEA, HUD Fair Market Rents, EPA AirNow, Tax Foundation
Median rent is modestly lower in Albuquerque at $1,145/mo compared to $1,371/mo in Minneapolis (16% gap). Median home values are within 20% of each other: $291,500 in Albuquerque and $362,200 in Minneapolis.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
State tax data is not yet available for these cities.
Albuquerque
Income tax: N/A
Sales tax: N/A
Minneapolis
Income tax: N/A
Sales tax: N/A
Albuquerque has cleaner air on average: 28.0 AQI (Good) compared to 55.0 AQI (Moderate) in the other city. Lower AQI means cleaner, healthier air.
Pick Albuquerque if you prioritize lower overall cost of living (index 93.6 vs 104.3).
Pick Minneapolis if you prioritize higher median household income ($80,846/yr).
Pick Albuquerque if you prioritize cheaper rent ($1,145/mo median).
Pick Albuquerque if you prioritize cleaner air quality (avg AQI 28.0).
Is Albuquerque cheaper than Minneapolis?
Albuquerque is cheaper overall, with a cost of living index of 93.6 versus 104.3 (US average = 100). That means prices run about 10% lower in Albuquerque.
How much is rent in Albuquerque vs Minneapolis?
Median rent is $1,145/mo in Albuquerque, NM and $1,371/mo in Minneapolis, MN. Albuquerque, NM has the lower rent by about 16%.
Which has higher salaries — Albuquerque or Minneapolis?
Median household income is $68,317 in Albuquerque, NM and $80,846 in Minneapolis, MN. Minneapolis, MN has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Albuquerque, NM has better air quality on average: 28.0 AQI versus 55.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Albuquerque or Minneapolis?
State tax data is not yet available for one or both cities.
What salary do I need in Minneapolis to match my Albuquerque income?
To maintain the same purchasing power, a salary of $100,000 in Albuquerque, NM is equivalent to roughly $111,402 in Minneapolis, MN (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
