Housing costs in Minneapolis?
A typical home costs
$337,900, which is 0.1% less expensive than the national average of
$338,100 and 9.2% more 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 55417), Minnesota, a minimum annual income of
$64,800 for a family, and
$44,000 for a single person is recommended.
What does A.I. say about Minneapolis?
The cost of living in 55417 Minneapolis, MN is relatively high. According to the Cost of Living Index, Minneapolis sits at a score of 110.6, which is higher than the national average of 100. Housing costs are especially high in the area, with an index score of 132.5. The median home value for 55417 Minneapolis is $274,800 and the median rent price for a two-bedroom apartment is approximately $1,400 per month. Groceries, transportation and health care also tend to be expensive in this zip code. Despite this, many people still choose to live here due to its vibrant culture and attractions like its iconic lakes and downtown skyline.