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Cost of Living Data profile

Cost of Living in Minneapolis: Rent, Housing & Income

  • Official data · Census ACS 2024 · BEA 2024 · EIA July–September 2026
Updated  7 sources

Cost of living vs. U.S. average (2024)

4.8% above

Cost of living in Minneapolis is 4.8% above the U.S. average, based on the Bureau of Economic Analysis 2024 Regional Price Parities for the Minneapolis-St. Paul-Bloomington, MN-WI metro area (index 104.8; U.S. = 100). Median rent in Minneapolis is $1,340 a month.

Cost of living in Minneapolis by category

Overall prices

104.8U.S. = 100

Regional price parity, all items

+4.8% vs. U.S.

Goods
103.1 +3.1%
Housing (rents)
111.8 +11.8%
Utilities
93.5 −6.5%
Other services
104.4 +4.4%

BEA 2024 · Minneapolis metro area Details: Overall prices

Housing

$1,340/mo

Median gross rent

−10% vs. U.S.

1-bedroom rent
$1,177 −10% vs. U.S.
2-bedroom rent
$1,595 +7% vs. U.S.
3-bedroom rent
$1,748 +4% vs. U.S.
Median home value
$368,300 About the same as U.S.
Owner costs, mortgage
$2,177 +7% vs. U.S.

Census ACS 2024 Details: Housing

Utilities

$120/mo

Average electric bill

−23% vs. U.S.

Electricity price
17.4¢/kWh −5% vs. U.S.
Natural gas, 12-mo avg.
$12.75/Mcf −34% vs. U.S.
Utilities price index
93.5

EIA July 2026 · Minnesota statewide Details: Utilities

Transportation

22.8min

Mean travel time to work

−16% vs. U.S.

Commute mode: drove alone
52.4%
Work from home
20.9%
Gasoline (Minnesota)
$4.24/gal About the same as U.S.

Census ACS 2024 · EIA September 2026 Details: Transportation

Food at home

$1,388/mo

Moderate-cost plan, family of 4

Thrifty plan, family of 4
$1,024/mo
Liberal plan, family of 4
$1,679/mo
Moderate plan, single woman
$403/mo
Moderate plan, single man
$478/mo

USDA August 2026 · U.S. average Details: Food at home

Child care

$390/wk

Center care, infant

+125% vs. U.S.

Center care, toddler
$348/wk +126% vs. U.S.
Center care, preschool
$309/wk +114% vs. U.S.
Home-based care, infant
$205/wk +43% vs. U.S.

DOL NDCP 2022 prices · Hennepin County Details: Child care

Income

$77,732/yr

Median household income

−5% vs. U.S.

Median rent as share of income
21%
Home value to income
4.7×

Census ACS 2024 Details: Income

Housing costs in Minneapolis

Median gross rent in Minneapolis is $1,340 a month, 10% below the U.S. median of $1,487. The median falls in the $1,250–$1,499 range, which holds 13.9% of renter households paying cash rent. Another 41.2% pay $1,500 or more.

The median owner-occupied home is valued at $368,300, and 4% of homes are valued at $1,000,000 or more.

Housing costs: Minneapolis vs. Minnesota vs. U.S.

Median monthly rent

Median monthly rent Minneapolis: $1,340; Minnesota: $1,291; U.S.: $1,487 Minneapolis $1,340 Minnesota $1,291 U.S. $1,487

Monthly owner costs

Monthly owner costs Minneapolis: $2,177; Minnesota: $1,985; U.S.: $2,035 Minneapolis $2,177 Minnesota $1,985 U.S. $2,035

Median home value

Median home value Minneapolis: $368,300; Minnesota: $344,600; U.S.: $360,600 Minneapolis $368,300 Minnesota $344,600 U.S. $360,600
Show the data table
MeasureMinneapolisMinnesotaU.S.
Median monthly rent$1,340$1,291$1,487
Monthly owner costs$2,177$1,985$2,035
Median home value$368,300$344,600$360,600

Rent is median gross rent; owner costs are for homes with a mortgage. American Community Survey 2024 1-year estimates. Source: American Community Survey (U.S. Census Bureau)

What renters pay in Minneapolis

What renters pay in Minneapolis Share of renter households paying cash rent in Minneapolis by range; ranges differ in width. The bottom range, less than $500, holds 10.1%; the top range, $3,500 or more, holds 1.9%. Median $1,340. The U.S. distribution is drawn as a line. 0% 10% 20% 30% Less than $500: 10.1% (U.S.: 6.1%) $500–$749: 4.2% (U.S.: 6.8%) $750–$999: 10.3% (U.S.: 11.5%) $1,000–$1,249: 20.4% (U.S.: 13.5%) $1,250–$1,499: 13.9% (U.S.: 12.9%) $1,500–$1,999: 26.3% (U.S.: 22.2%) $2,000–$2,499: 7.9% (U.S.: 13.2%) $2,500–$2,999: 4.4% (U.S.: 6.5%) $3,000–$3,499: 0.7% (U.S.: 3.2%) $3,500 or more: 1.9% (U.S.: 4.2%) $500–750 $1–1.25K $1.5–2K $2.5–3K $3.5K+ Median $1,340 (Minneapolis) 26.3%
Show the data table
RangeMinneapolisU.S.
Less than $50010.1%6.1%
$500–$7494.2%6.8%
$750–$99910.3%11.5%
$1,000–$1,24920.4%13.5%
$1,250–$1,49913.9%12.9%
$1,500–$1,99926.3%22.2%
$2,000–$2,4997.9%13.2%
$2,500–$2,9994.4%6.5%
$3,000–$3,4990.7%3.2%
$3,500 or more1.9%4.2%

Share of renter households paying cash rent. Census ACS 2024 1-year estimates, table B25063. Source: American Community Survey (U.S. Census Bureau)

Home values in Minneapolis

Home values in Minneapolis Share of owner-occupied homes in Minneapolis by range; ranges differ in width. The bottom range, less than $100,000, holds 2.9%; the top range, $1,500,000 or more, holds 1.8%. Median $368,300. The U.S. distribution is drawn as a line. 0% 10% 20% 30% Less than $100,000: 2.9% (U.S.: 10.2%) $100,000–$149,999: 2.1% (U.S.: 5.7%) $150,000–$199,999: 5.9% (U.S.: 7.5%) $200,000–$249,999: 9.3% (U.S.: 8.4%) $250,000–$299,999: 10.5% (U.S.: 8.5%) $300,000–$399,999: 28.3% (U.S.: 15.9%) $400,000–$499,999: 14.4% (U.S.: 12%) $500,000–$749,999: 17.7% (U.S.: 16.3%) $750,000–$999,999: 4.8% (U.S.: 7.5%) $1,000,000–$1,499,999: 2.2% (U.S.: 4.3%) $1,500,000 or more: 1.8% (U.S.: 3.7%) <$100K $100–150K $150–200K $250–300K $400–500K $500–750K $750K–1M $1.5M+ Median $368,300 (Minneapolis) 28.3%
Show the data table
RangeMinneapolisU.S.
Less than $100,0002.9%10.2%
$100,000–$149,9992.1%5.7%
$150,000–$199,9995.9%7.5%
$200,000–$249,9999.3%8.4%
$250,000–$299,99910.5%8.5%
$300,000–$399,99928.3%15.9%
$400,000–$499,99914.4%12%
$500,000–$749,99917.7%16.3%
$750,000–$999,9994.8%7.5%
$1,000,000–$1,499,9992.2%4.3%
$1,500,000 or more1.8%3.7%

Share of owner-occupied homes. Census ACS 2024 1-year estimates, table B25075. Source: American Community Survey (U.S. Census Bureau)

Monthly housing costs in Minneapolis

Measure Minneapolis Minnesota U.S.
Median rent (all units) $1,340$1,291$1,487
1-bedroom rent $1,177$1,135$1,301
2-bedroom rent $1,595$1,369$1,490
3-bedroom rent $1,748$1,589$1,677
Owner costs with a mortgage $2,177$1,985$2,035

Median gross rent includes utilities the renter pays. Owner costs include the mortgage, taxes, insurance, and utilities. American Community Survey 2024 1-year estimates. Source: American Community Survey (U.S. Census Bureau)

How affordable is Minneapolis?

At the median, rent takes about 21% of household income in Minneapolis. Housing experts treat 30% as the limit before a household is considered cost-burdened. To keep the median rent at 30% of income, a household would need to earn about $53,600 a year.

The median home is worth $368,300, or 4.7 times the median household income.

Household income in Minneapolis

The median household in Minneapolis earns $77,732 a year, 5% below the U.S. median of $81,604. About 14.1% of households earn $200,000 or more, while 15.8% earn less than $25,000.

Median household income: Minneapolis vs. Minnesota vs. U.S.

Median household income (yearly)

Median household income (yearly) Minneapolis: $77,732; Minnesota: $87,117; U.S.: $81,604 Minneapolis $77,732 Minnesota $87,117 U.S. $81,604
Show the data table
MeasureMinneapolisMinnesotaU.S.
Median household income (yearly)$77,732$87,117$81,604

American Community Survey 2024 1-year estimates. Source: American Community Survey (U.S. Census Bureau)

Household income distribution in Minneapolis

Household income distribution in Minneapolis Share of households in Minneapolis by range; ranges differ in width. The bottom range, less than $10,000, holds 6.7%; the top range, $200,000 or more, holds 14.1%. Median $77,732. The U.S. distribution is drawn as a line. 0% 5% 10% 15% Less than $10,000: 6.7% (U.S.: 5.1%) $10,000–$14,999: 4.2% (U.S.: 3.3%) $15,000–$19,999: 2.4% (U.S.: 2.8%) $20,000–$24,999: 2.5% (U.S.: 3.2%) $25,000–$29,999: 3.6% (U.S.: 3%) $30,000–$34,999: 2.5% (U.S.: 3.3%) $35,000–$39,999: 3.5% (U.S.: 3.2%) $40,000–$44,999: 4% (U.S.: 3.5%) $45,000–$49,999: 3.2% (U.S.: 3.2%) $50,000–$59,999: 6.8% (U.S.: 6.4%) $60,000–$74,999: 9.2% (U.S.: 9.2%) $75,000–$99,999: 11.2% (U.S.: 12.6%) $100,000–$124,999: 11% (U.S.: 10.4%) $125,000–$149,999: 6.6% (U.S.: 7.4%) $150,000–$199,999: 8.7% (U.S.: 9.7%) $200,000 or more: 14.1% (U.S.: 13.7%) $10–15K $20–25K $30–35K $40–45K $50–60K $75–100K $125–150K $200K+ Median $77,732 (Minneapolis) 14.1%
Show the data table
RangeMinneapolisU.S.
Less than $10,0006.7%5.1%
$10,000–$14,9994.2%3.3%
$15,000–$19,9992.4%2.8%
$20,000–$24,9992.5%3.2%
$25,000–$29,9993.6%3%
$30,000–$34,9992.5%3.3%
$35,000–$39,9993.5%3.2%
$40,000–$44,9994%3.5%
$45,000–$49,9993.2%3.2%
$50,000–$59,9996.8%6.4%
$60,000–$74,9999.2%9.2%
$75,000–$99,99911.2%12.6%
$100,000–$124,99911%10.4%
$125,000–$149,9996.6%7.4%
$150,000–$199,9998.7%9.7%
$200,000 or more14.1%13.7%

Share of households. Census ACS 2024 1-year estimates, table B19001. Source: American Community Survey (U.S. Census Bureau)

Income and home values

Measure Minneapolis Minnesota U.S.
Median household income (yearly) $77,732$87,117$81,604
Median home value $368,300$344,600$360,600

American Community Survey 2024 1-year estimates. Source: American Community Survey (U.S. Census Bureau)

Price levels compared with the U.S.

The Bureau of Economic Analysis publishes Regional Price Parities: price levels for the same basket of goods and services, with the U.S. average set to 100. In 2024, the Minneapolis-St. Paul-Bloomington, MN-WI metro area scored 104.8 for all items. The highest category is housing rents at 111.8; the lowest is utilities at 93.5.

Regional price parities by category (U.S. = 100)

All items

All items Minneapolis metro area: 104.8; Minnesota: 98.6; U.S.: 100.0 Minneapolis metro area 104.8 Minnesota 98.6 U.S. 100.0

Goods

Goods Minneapolis metro area: 103.1; Minnesota: 100.5; U.S.: 99.6 Minneapolis metro area 103.1 Minnesota 100.5 U.S. 99.6

Housing (rents)

Housing (rents) Minneapolis metro area: 111.8; Minnesota: 91.3; U.S.: 100.6 Minneapolis metro area 111.8 Minnesota 91.3 U.S. 100.6

Utilities

Utilities Minneapolis metro area: 93.5; Minnesota: 90.8; U.S.: 98.4 Minneapolis metro area 93.5 Minnesota 90.8 U.S. 98.4

Other services

Other services Minneapolis metro area: 104.4; Minnesota: 100.2; U.S.: 100.1 Minneapolis metro area 104.4 Minnesota 100.2 U.S. 100.1
Show the data table
MeasureMinneapolis metro areaMinnesotaU.S.
All items104.898.6100.0
Goods103.1100.599.6
Housing (rents)111.891.3100.6
Utilities93.590.898.4
Other services104.4100.2100.1

Index, U.S. = 100. Bureau of Economic Analysis Regional Price Parities, 2024. Metro area: Minneapolis-St. Paul-Bloomington, MN-WI. Source: U.S. Bureau of Economic Analysis, Regional Price Parities

Utilities and energy costs

Households in Minnesota paid an average of 17.4¢ per kWh for electricity in July 2026, compared with 18.3¢ nationally. Over the past 12 months the average residential bill was $120 a month (U.S.: $157). Residential natural gas averaged $12.75 per thousand cubic feet over the 12 months to July 2026 (U.S.: $19.40).

Energy prices are reported statewide, so these are Minnesota averages rather than figures for Minneapolis alone.

Energy prices: Minnesota vs. U.S.

Electricity price (¢/kWh)

Electricity price (¢/kWh) Minnesota: 17.4¢; U.S.: 18.3¢ Minnesota 17.4¢ U.S. 18.3¢

Average electric bill (monthly)

Average electric bill (monthly) Minnesota: $120; U.S.: $157 Minnesota $120 U.S. $157

Natural gas, 12-mo avg. ($/Mcf)

Natural gas, 12-mo avg. ($/Mcf) Minnesota: $12.75; U.S.: $19.40 Minnesota $12.75 U.S. $19.40
Show the data table
MeasureMinnesotaU.S.
Electricity price (¢/kWh)17.4¢18.3¢
Average electric bill (monthly)$120$157
Natural gas, 12-mo avg. ($/Mcf)$12.75$19.40

Residential customers. Electricity price for July 2026; electric bill and natural gas are 12-month averages. U.S. Energy Information Administration. Sources: EIA Electric Power Monthly: residential retail sales; EIA Natural Gas Monthly: price delivered to residential consumers

Transportation and commuting

Workers in Minneapolis who commute spend an average of 22.8 minutes getting to work (U.S.: 27.2 minutes). The most common way to get to work is to drive alone (52.4% of workers); 20.9% work from home. Regular gasoline averaged $4.24 a gallon in Minnesota in September 2026, compared with $4.36 nationally.

How workers get to work

How workers get to work Minneapolis: Drove alone 52.4%, Carpooled 7.6%, Public transit 7.1%, Walked 7.2%, Bicycle 2.6%, Worked from home 20.9%, Other (taxi, motorcycle, etc.) 2.1%. Minnesota: Drove alone 70.7%, Carpooled 8.2%, Public transit 1.8%, Walked 2.6%, Bicycle 0.6%, Worked from home 14.7%, Other (taxi, motorcycle, etc.) 1.5%. U.S.: Drove alone 69.2%, Carpooled 9.2%, Public transit 3.7%, Walked 2.4%, Bicycle 0.5%, Worked from home 13.3%, Other (taxi, motorcycle, etc.) 1.7%. Most common in Minneapolis: Drove alone. Minneapolis Minneapolis · Drove alone: 52.4% 52.4% Minneapolis · Carpooled: 7.6% Minneapolis · Public transit: 7.1% Minneapolis · Walked: 7.2% Minneapolis · Bicycle: 2.6% Minneapolis · Worked from home: 20.9% 20.9% Minneapolis · Other (taxi, motorcycle, etc.): 2.1% Minnesota Minnesota · Drove alone: 70.7% 70.7% Minnesota · Carpooled: 8.2% Minnesota · Public transit: 1.8% Minnesota · Walked: 2.6% Minnesota · Bicycle: 0.6% Minnesota · Worked from home: 14.7% 14.7% Minnesota · Other (taxi, motorcycle, etc.): 1.5% U.S. U.S. · Drove alone: 69.2% 69.2% U.S. · Carpooled: 9.2% U.S. · Public transit: 3.7% U.S. · Walked: 2.4% U.S. · Bicycle: 0.5% U.S. · Worked from home: 13.3% 13.3% U.S. · Other (taxi, motorcycle, etc.): 1.7%
Show the data table
Means of transportationMinneapolisMinnesotaU.S.
Drove alone52.4%70.7%69.2%
Carpooled7.6%8.2%9.2%
Public transit7.1%1.8%3.7%
Walked7.2%2.6%2.4%
Bicycle2.6%0.6%0.5%
Worked from home20.9%14.7%13.3%
Other (taxi, motorcycle, etc.)2.1%1.5%1.7%

Share of workers 16 and over. Census ACS 2024 1-year estimates, table B08301. Source: American Community Survey (U.S. Census Bureau)

Travel time to work in Minneapolis

Travel time to work in Minneapolis Share of workers who do not work from home in Minneapolis by range; ranges differ in width. The bottom range, less than 5 min, holds 2%; the top range, 90 min or more, holds 2.1%. Mean 22.8 min. The U.S. distribution is drawn as a line. 0% 10% 20% 30% Less than 5 min: 2% (U.S.: 2.8%) 5–9 min: 8.1% (U.S.: 9.4%) 10–14 min: 14.8% (U.S.: 13.1%) 15–19 min: 21.6% (U.S.: 15%) 20–24 min: 22.3% (U.S.: 14.1%) 25–29 min: 7.8% (U.S.: 7%) 30–34 min: 11.6% (U.S.: 13.7%) 35–39 min: 1.9% (U.S.: 3.4%) 40–44 min: 2% (U.S.: 4.1%) 45–59 min: 3.8% (U.S.: 8.3%) 60–89 min: 2% (U.S.: 6.3%) 90 min or more: 2.1% (U.S.: 3%) <5 5–9 10–14 15–19 20–24 25–29 30–34 35–39 40–44 45–59 60–89 90+ Mean 22.8 min (Minneapolis) 22.3%
Show the data table
RangeMinneapolisU.S.
Less than 5 min2%2.8%
5–9 min8.1%9.4%
10–14 min14.8%13.1%
15–19 min21.6%15%
20–24 min22.3%14.1%
25–29 min7.8%7%
30–34 min11.6%13.7%
35–39 min1.9%3.4%
40–44 min2%4.1%
45–59 min3.8%8.3%
60–89 min2%6.3%
90 min or more2.1%3%

Share of workers who do not work from home. Census ACS 2024 1-year estimates, table B08303. Source: American Community Survey (U.S. Census Bureau)

Child care costs in Minneapolis

In 2022, full-time center-based care for an infant had a median price of $390 a week in Hennepin County, or $20,280 over 52 weeks. That is 125% above the U.S. county median of $174. Prices are for 2022 and are not adjusted for inflation.

Weekly child care prices (2022)

Type of care Hennepin County Minnesota (county median) U.S. (county median)
Center-based care, infant $390$211$174
Center-based care, toddler $348$197$153
Center-based care, preschool $309$182$144
Center-based care, school-age $237$163$120
Home-based family care, infant $205$143$143
Home-based family care, toddler $182$132$132
Home-based family care, preschool $185$132$131
Home-based family care, school-age $170$127$118

Median weekly price for full-time care. State and U.S. figures are medians of county medians. Prices are for 2022 and are not adjusted for inflation. U.S. Department of Labor, National Database of Childcare Prices. Source: National Database of Childcare Prices (U.S. Department of Labor, Women's Bureau)

Food costs

USDA's moderate-cost food plan puts groceries for a family of four at $1,388 a month in August 2026; the thrifty plan comes to $1,024. USDA publishes these as national averages, not city figures, so they show a typical grocery budget rather than Minneapolis prices.

Monthly cost of food at home (August 2026)

USDA food plan U.S. family of 4 U.S. couple U.S. single man U.S. single woman
Thrifty $1,024$630$383$304
Low-cost $1,126$652$381$331
Moderate-cost $1,388$808$478$403
Liberal $1,679$1,007$583$515

Family of 4: two adults and two children aged 6–8 and 9–11. For a single man, the Thrifty plan costs more than the Low-cost plan: USDA re-evaluated the Thrifty plan in 2021, while the other plans still use older market baskets. USDA Food and Nutrition Service, Official Food Plans, August 2026. Source: USDA Food Plans: Cost of Food at Home (monthly reports)

Frequently asked questions

What is the average rent in Minneapolis?

Median rent is $1,177 for a one-bedroom and $1,595 for a two-bedroom unit, including utilities the renter pays.

How much do most renters pay in Minneapolis?

Among renter households paying cash rent, 24.6% pay less than $1,000 a month, 60.6% pay $1,000 to $1,999, and 14.9% pay $2,000 or more (Census ACS 2024).

How much do you need to make to live in Minneapolis?

To keep the median rent of $1,340 at no more than 30% of income, a household needs about $53,600 a year before taxes. This covers housing only.

Is Minneapolis more expensive than the U.S. average?

Yes. The Bureau of Economic Analysis puts overall prices in the Minneapolis-St. Paul-Bloomington, MN-WI metro area at 104.8 for 2024 (U.S. = 100), 4.8% above average. Housing rents score 111.8.

How long is the average commute in Minneapolis?

22.8 minutes one way for workers who commute, compared with 27.2 minutes nationally (Census ACS 2024).

How much does infant day care cost in Minneapolis?

The median price for full-time center-based infant care was $390 a week in Hennepin County in 2022, according to the Department of Labor's National Database of Childcare Prices.