Housing costs in Minneapolis?
A typical home costs
$502,600, which is 48.7% more expensive than the national average of
$338,100 and 62.4% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Minneapolis costs
$2,120 per month, which is 71.0% more than the national average of
$1,240 and 34.0% more than the state average of
$1,400.
Can I afford Minneapolis?
To live comfortably in Minneapolis (zip 55415), Minnesota, a minimum annual income of
$96,480 for a family, and
$69,200 for a single person is recommended.
What does A.I. say about Minneapolis?
The cost of living in 55415 Minneapolis, MN is quite high. The estimated median home value is around $274,400, with housing costs accounting for more than 30% of a typical resident's budget. The overall cost of living index in this area is 126.9, which is significantly higher than the national average of 100. Groceries and health care are also noticeably more expensive than the national average. Transportation costs are fairly reasonable however, with public transit being a convenient and affordable option for many residents. Despite its high costs, 55415 Minneapolis, MN remains an attractive place to live due to its vibrant culture and diverse population.