salaryMinneapolis is the largest city in Minnesota that we track, with 427,246 residents. Rent is lower than in 50% of U.S. cities. A typical house costs about 4.2 years of household income. It is a highly educated city: 55.5% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $65,960 a year. That is $32 an hour at a full-time job.
Is rent cheaper than other Minnesota cities?
No. Rent here is more expensive than in most of Minnesota. It is number 87 of 150 cities from cheapest to most expensive.
Compare Minneapolis with other big cities
Compare Minneapolis to 149 other cities →
How much do households earn in Minneapolis?
Share of households by yearly income. 31.5% of households earn $100,000 or more.
Rent by apartment size in Minneapolis
| Size | Minneapolis | U.S. average |
|---|---|---|
| Studio | $1,156 | $1,338 |
| 1 bedroom | $1,343 | $1,324 |
| 2 bedrooms | $1,805 | $1,509 |
| 3 bedrooms | $2,015 | $1,698 |
| 4 bedrooms | $2,290 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Minneapolis overall?
Everyday prices in the Minneapolis-St. Paul-Bloomington metro area are 5% above the U.S. average (index 104.8, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024.
Taxes and bills in Minneapolis
Life in Minneapolis
What jobs pay in Minneapolis
| Job | Median pay | Rent / pay |
|---|---|---|
| Pharmacist | $160,990 | 12.3% |
| Lawyer | $159,620 | 12.4% |
| Physician Assistant | $145,030 | 13.6% |
| Nurse Practitioner | $133,370 | 14.8% |
| Software Developer | $130,920 | 15.1% |
| Dental Hygienist | $112,630 | 17.6% |
| Computer Systems Analyst | $112,090 | 17.7% |
| Civil Engineer | $104,740 | 18.9% |
| Operations Manager | $103,570 | 19.1% |
| Registered Nurse | $103,040 | 19.2% |
| Plumber | $101,630 | 19.5% |
| Market Research Analyst | $97,910 | 20.2% |
| Police Officer | $97,190 | 20.4% |
| Accountant | $86,500 | 22.9% |
| Electrician | $81,890 | 24.2% |
| Elementary School Teacher | $79,730 | 24.8% |
| HVAC Technician | $77,490 | 25.5% |
| Carpenter | $74,060 | 26.7% |
| Licensed Practical Nurse | $65,660 | 30.1% |
| Truck Driver | $64,200 | 30.8% |
| Medical Assistant | $52,570 | 37.6% |
| Customer Service Representative | $49,480 | 40.0% |
| Nursing Assistant | $48,020 | 41.2% |
| Warehouse Worker | $47,320 | 41.8% |
| Restaurant Cook | $39,640 | 49.9% |
| Firefighter | $39,350 | 50.3% |
| Retail Salesperson | $36,670 | 54.0% |
| Cashier | $35,760 | 55.3% |
| Server (Waiter/Waitress) | $25,920 | 76.3% |
Is it cheaper to rent or buy in Minneapolis?
Renting is cheaper right now: about $864 a month less.
Owning assumes a typical $362,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $36,220 for the down payment.
Frequently asked questions
What is the average rent in Minneapolis, MN?
Renting in Minneapolis costs a median of about $1,649 a month in 2026, including utilities. The Minnesota median is $1,525.
How much do I need to make to live in Minneapolis?
To keep rent under 30% of income, you need about $65,960 a year, or $32 an hour at a full-time job.
Is Minneapolis cheap or expensive?
Minneapolis is rated OK: rent takes 22.7% of the typical household income of $87,192. It ranks 87th cheapest of 150 Minnesota cities we track.
How much are property taxes in Minneapolis?
The median homeowner in Minneapolis pays $4,339 a year in property taxes, about 1.20% of the median home value.
Is Minneapolis more expensive than the national average?
Overall prices in the metro area are 5% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Minneapolis?
The median home value in Minneapolis is $362,200, about 4.2 times the typical yearly household income.
427,246 people live in Minneapolis. Numbers are typical (middle) values.