Housing costs in Minneapolis?
A typical home costs
$261,600, which is 22.6% less expensive than the national average of
$338,100 and 15.5% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Minneapolis costs
$1,410 per month, which is 13.7% more than the national average of
$1,240 and close to the state average of
$1,400.
Can I afford Minneapolis?
To live comfortably in Minneapolis (zip 55403), Minnesota, a minimum annual income of
$50,040 for a family, and
$46,000 for a single person is recommended.
What does A.I. say about Minneapolis?
The cost of living in 55403 Minneapolis, MN is higher than the national average. The median household income is around $77,000, and the cost of housing is steep with a median listing price for a home at over $345,000. On the other hand, utilities are relatively inexpensive. Transportation costs can be high due to public transportation usage fees and gas prices, but overall it's still cheaper than many other cities in the US. All in all, while the cost of living in 55403 Minneapolis, MN may be slightly higher than other parts of the country, there are still ways to make it more affordable.