Median rent is 13% lower in Minneapolis ($1,371/mo vs $1,582/mo). Buying is cheaper in Minneapolis, where the median home runs $362,200 versus $420,700. Households earn more in Phoenix ($81,332 vs $80,846 a year). Taken together, Minneapolis is the more affordable choice with a cost index of 104.3 against 104.7 — about 0% lower overall prices.
City A
Minneapolis, MN
City B
Phoenix, AZ
How much would you need to earn in Phoenix, AZ to maintain your standard of living from Minneapolis, MN?
Equivalent salary in Phoenix, AZ
$75,269
You'd need $269 more (0% 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
Minneapolis
Minnesota
Phoenix
Arizona
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 Minneapolis at $1,371/mo compared to $1,582/mo in Phoenix (13% gap). Median home values are within 14% of each other: $362,200 in Minneapolis and $420,700 in Phoenix.
Metric
Minneapolis
Phoenix
Software Developer
Registered Nurse
Elementary Teacher
Electrician
Accountant
Higher wage highlighted · BLS OEWS 2023 (metro-level data)
State tax data is not yet available for these cities.
Minneapolis
Income tax: N/A
Sales tax: N/A
Phoenix
Income tax: N/A
Sales tax: N/A
Phoenix 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 Minneapolis if you prioritize cheaper rent ($1,371/mo median).
Pick Phoenix if you prioritize cleaner air quality (avg AQI 28.0).
Minneapolis is cheaper overall, with a cost of living index of 104.3 versus 104.7 (US average = 100). That means prices run about 0% lower in Minneapolis.
Median rent is $1,371/mo in Minneapolis, MN and $1,582/mo in Phoenix, AZ. Minneapolis, MN has the lower rent by about 13%.
Median household income is $80,846 in Minneapolis, MN and $81,332 in Phoenix, AZ. Phoenix, AZ has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Phoenix, AZ has better air quality on average: 28.0 AQI versus 55.0 AQI. Both are EPA AirNow annual averages; lower is better.
State tax data is not yet available for one or both cities.
To maintain the same purchasing power, a salary of $100,000 in Minneapolis, MN is equivalent to roughly $100,359 in Phoenix, AZ (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
