Housing costs in Minneapolis?
A typical home costs
$377,100, which is 11.5% more expensive than the national average of
$338,100 and 21.8% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Minneapolis costs
$1,330 per month, which is 7.3% more than the national average of
$1,240 and 5.3% cheaper than the state average of
$1,400.
Can I afford Minneapolis?
To live comfortably in Minneapolis (zip 55414), Minnesota, a minimum annual income of
$72,360 for a family, and
$43,600 for a single person is recommended.
What does A.I. say about Minneapolis?
The cost of living in 55414 Minneapolis, MN is relatively high compared to the national average. The median home value in the area is about $296,900 which is around 80% higher than the national average. Similarly, the median household income is about $69,521 compared to the national median of $61,937. In addition, typical costs for groceries, utilities and other general expenses can also be quite expensive. Overall, living in 55414 Minneapolis can be a great place to live but it does come at a higher cost than most other cities across the United States.