Cost of Living in Minneapolis, MN
| Cost of Living in Minneapolis, MN | Compared to State Average | Compared to National Average |
|---|---|---|
| Housing (Buy and Rent) | 1% higher | 14% lower |
| Utilities (Monthly) | 1% lower | 5% lower |
| Food | 1% lower | 1% lower |
| Healthcare | 7% lower | 1% higher |
| Transportation | 0% | 3% lower |
| Goods & Services | 5% lower | 5% lower |
The cost of living in Minneapolis, MN is 2% lower than the state average and 6% lower than the national average. Minneapolis, MN housing is 14% cheaper than the U.S average, while utilities are about 5% less pricey. When it comes to basic necessities such as food and clothing, groceries are around 1% cheaper in Minneapolis, MN than in the rest of the country, while clothing costs around 5% less .
Healthcare services such as doctor check-ups and dentistry cost 1% more here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 5% cheaper in Minneapolis, MN.
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 $1,680, while home prices circle around $406,011.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Minneapolis, energy bills cost around $183.03 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 $4.64 in Minneapolis, a dozen eggs go for around $3.74 and a pound of potatoes circles around $4.60.
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 $114.22, while a dentist appointment is priced $96.59 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $3.20 in Minneapolis, while getting your tires balanced will run you about $60.54.
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 $36.20 here. Meanwhile, a pair of women's slacks will set you back around $41.12.
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 $11.55 a month. When it comes to personal services, a haircut usually goes for $26.23, while dry cleaning costs about $17.06.
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 $80,269.