Cost of Living in Minneapolis, MN
|Cost of Living in Minneapolis, MN||Compared to State Average||Compared to National Average|
|Housing (Buy and Rent)||5% higher||8% lower|
|Utilities (Monthly)||1% higher||0%|
|Food||6% lower||5% lower|
|Healthcare||7% lower||2% higher|
|Transportation||5% higher||4% higher|
|Goods & Services||1% higher||5% higher|
The cost of living in Minneapolis, MN is 1% higher than the state average and 1% lower than the national average. Minneapolis, MN housing is 8% cheaper than the U.S average, while utilities are about 0% . When it comes to basic necessities such as food and clothing, groceries are around 5% more in Minneapolis, MN than in the rest of the country, while clothing costs around 5% more .
Healthcare services such as doctor check-ups and dentistry cost 2% more here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 5% pricier in Minneapolis, MN.
Housing (Buy and Rent)
Housing is the most significant expense for most American households. The cost of living in a certain city takes into account both the price of rent and the price of a home. The average monthly rent in Minneapolis is $1,660, while home prices circle around $404,076.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Minneapolis, energy bills cost around $176.94 per month.
Food is the most important necessity and its cost varies around the country. This section includes the prices of everyday foods such as produce, meat and dairy. A bottle of milk costs about $2.28 in Minneapolis, a dozen eggs go for around $1.83 and a pound of potatoes circles around $3.18.
The benchmark for this category is based on the prices of family doctor visits and specialized services such as optometry. In Minneapolis, an optometry check-up costs around $100.90, while a dentist appointment is priced $88.15 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $3.94 in Minneapolis, while getting your tires balanced will run you about $62.08.
Goods & Services
The cost of clothing tells you how much more or less money you need to buy basic items such as jeans, shirts or slacks in a new city. A men's shirt costs around $35.74 here. Meanwhile, a pair of women's slacks will set you back around $41.65.
The cost of entertainment and everyday services is based on common expenses in each category. For a movie ticket in Minneapolis, you should budget around $11.04 a month. When it comes to personal services, a haircut usually goes for $25.41, while dry cleaning costs about $14.91.
The cost of living also takes median household income into account, so you can estimate how much more or less you could be earning in a new city by comparing it to the income in your current area. In Minneapolis, the median household income is $70,099.