Median rent is 14% lower in Bloomington ($1,526/mo vs $1,779/mo). Buying is cheaper in Bloomington, where the median home runs $346,200 versus $751,700. Households earn more in Bloomington ($90,677 vs $79,713 a year). Taken together, Bloomington is the more affordable choice with a cost index of 102.6 against 113.0 — about 9% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Bloomington, MN.
Quick verdict
Bloomington is 9% cheaper overall
Cost index: 102.6 in Bloomington vs 113.0 in New York (US average = 100)
City A
Bloomington, MN
City B
New York, NY
How much would you need to earn in New York, NY to maintain your standard of living from Bloomington, MN?
Equivalent salary in New York, NY
$82,560
You'd need $7,560 more (10% higher).
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Bloomington
Minnesota
New York
New York
👥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: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rent is modestly lower in Bloomington at $1,526/mo compared to $1,779/mo in New York (14% gap). Home buyers face a steeper market in New York: the median home is $751,700 versus $346,200 in Bloomington — 54% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Minnesota's top income tax rate is 9.85% versus 10.90% in New York, so Bloomington is more tax-friendly for high earners. Sales tax is 6.88% in Minnesota and 4.00% in New York; New York has the lower rate (local add-ons may apply in both).
Bloomington
Income tax: 9.85%
Sales tax: 6.88%
New York
Income tax: 10.90%
Sales tax: 4.00%
Air quality data is available for New York (avg AQI 61.0) but not yet for Bloomington.
Pick Bloomington if you prioritize lower overall cost of living (index 102.6 vs 113.0).
Pick Bloomington if you prioritize higher median household income ($90,677/yr).
Pick Bloomington if you prioritize cheaper rent ($1,526/mo median).
Pick Bloomington if you prioritize lower state income tax (9.85%).
Is Bloomington cheaper than New York?
Bloomington is cheaper overall, with a cost of living index of 102.6 versus 113.0 (US average = 100). That means prices run about 9% lower in Bloomington.
How much is rent in Bloomington vs New York?
Median rent is $1,526/mo in Bloomington, MN and $1,779/mo in New York, NY. Bloomington, MN has the lower rent by about 14%.
Which has higher salaries — Bloomington or New York?
Median household income is $90,677 in Bloomington, MN and $79,713 in New York, NY. Bloomington, 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?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Bloomington or New York?
Minnesota's top income tax rate is 9.85% and New York's is 10.90%. Bloomington, MN has the lower rate.
What salary do I need in New York to match my Bloomington income?
To maintain the same purchasing power, a salary of $100,000 in Bloomington, MN is equivalent to roughly $110,080 in New York, NY (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology