Housing costs in Minneapolis?
A typical home costs
$381,100, which is 12.7% more expensive than the national average of
$338,100 and 23.1% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Minneapolis costs
$1,800 per month, which is 45.2% more than the national average of
$1,240 and 22.2% more than the state average of
$1,400.
Can I afford Minneapolis?
To live comfortably in Minneapolis (zip 55402), Minnesota, a minimum annual income of
$73,080 for a family, and
$58,800 for a single person is recommended.
What does A.I. say about Minneapolis?
The cost of living in 55402 Minneapolis, MN is significantly higher than the national average. According to Best Places, the overall cost of living index in this zip code is 138.8 – that’s 38.8% higher than the US average. Renters will find that one-bedroom apartments are particularly expensive, with an average rent price of $1,450 per month. Other costs such as groceries, utilities and healthcare are all above average when compared to the rest of the country. However, salaries tend to be slightly above average in 55402 Minneapolis, MN which helps offset these high costs for most individuals and families living there.