Median rent is 1% lower in Edina ($1,757/mo vs $1,779/mo). Buying is cheaper in Edina, where the median home runs $624,000 versus $751,700. Households earn more in Edina ($129,225 vs $79,713 a year).
City A
Edina, MN
City B
New York, NY
How much would you need to earn in New York, NY to maintain your standard of living from Edina, MN?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
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
Edina
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 rents are similar in both cities: $1,757/mo in Edina and $1,779/mo in New York. Median home values are within 17% of each other: $624,000 in Edina and $751,700 in New York.
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 Edina 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).
Edina
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 Edina.
Pick Edina if you prioritize higher median household income ($129,225/yr).
Pick Edina if you prioritize lower state income tax (9.85%).
Is Edina cheaper than New York?
Cost of living index data is not yet available for one or both cities.
How much is rent in Edina vs New York?
Median rent is $1,757/mo in Edina, MN and $1,779/mo in New York, NY. Edina, MN has the lower rent by about 1%.
Which has higher salaries — Edina or New York?
Median household income is $129,225 in Edina, MN and $79,713 in New York, NY. Edina, 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 — Edina or New York?
Minnesota's top income tax rate is 9.85% and New York's is 10.90%. Edina, MN has the lower rate.
What salary do I need in New York to match my Edina income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology