Housing costs in Minneapolis?
A typical home costs
$261,500, which is 22.7% 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
$1,350 per month, which is 8.9% more than the national average of
$1,240 and 3.7% cheaper than the state average of
$1,400.
Can I afford Minneapolis?
To live comfortably in Minneapolis (zip 55404), Minnesota, a minimum annual income of
$50,040 for a family, and
$44,000 for a single person is recommended.
What does A.I. say about Minneapolis?
The cost of living in Minneapolis, MN zip code 55404 is fairly high due to the city's proximity to downtown and other amenities. Housing prices are among the highest in the country, averaging around $800 thousand for a single family home. Grocery costs are also above average, with most items costing more than the national average. Transportation costs can be high as well, due to heavy traffic in the area. However, there are plenty of ways to save money by using public transportation or carpooling when possible. The overall cost of living in 55404 Minneapolis, MN is high but manageable if you are willing to make trade-offs and budget carefully.