Cost of Living in Minneapolis, MN
|Cost of Living in Minneapolis, MN||Compared to State Average||Compared to National Average|
|Housing (Buy and Rent)||13% higher||3% higher|
|Utilities (Monthly)||0%||3% lower|
|Food||1% lower||3% higher|
|Healthcare||9% lower||1% higher|
|Transportation||2% higher||2% higher|
|Goods & Services||3% higher||11% higher|
The cost of living in Minneapolis, MN is 4% higher than the state average and 5% higher than the national average. Minneapolis, MN housing is 3% more expensive than the U.S average, while utilities are about 3% less pricey. When it comes to basic necessities such as food and clothing, groceries are around 11% more in Minneapolis, MN than in the rest of the country, while clothing costs around 11% more .
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 11% 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 $1,621, while home prices circle around $389,159.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Minneapolis, energy bills cost around $161.75 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 $2.61 in Minneapolis, a dozen eggs go for around $1.82 and a pound of potatoes circles around $3.30.
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 $89.25, while a dentist appointment is priced $87.09 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $2.21 in Minneapolis, while getting your tires balanced will run you about $59.23.
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 $33.91 here. Meanwhile, a pair of women's slacks will set you back around $38.79.
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 $9.81 a month. When it comes to personal services, a haircut usually goes for $24.61, while dry cleaning costs about $14.34.
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 $66,068.