Housing costs in Minneapolis?
A typical home costs
$311,700, which is 7.8% less expensive than the national average of
$338,100 and 0.7% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Minneapolis costs
$1,550 per month, which is 25.0% more than the national average of
$1,240 and 9.7% more than the state average of
$1,400.
Can I afford Minneapolis?
To live comfortably in Minneapolis (zip 55408), Minnesota, a minimum annual income of
$59,760 for a family, and
$50,400 for a single person is recommended.
What does A.I. say about Minneapolis?
The cost of living in 55408 Minneapolis, MN is quite high compared to many other locations around the US. The overall cost of living index for this area is 113, which is 13 points higher than the national average. Housing costs in particular are significantly higher, with an index score of 157.5, and transportation costs are also above average. Food prices and healthcare costs are relatively close to the national average. However, the median household income in this area ($54,621) is slightly higher than the national median ($57,652), which helps to offset some of these increased costs.