Housing costs in Minneapolis?
A typical home costs
$416,800, which is 23.3% more expensive than the national average of
$338,100 and 34.7% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Minneapolis costs
$1,490 per month, which is 20.2% more than the national average of
$1,240 and 6.0% more than the state average of
$1,400.
Can I afford Minneapolis?
To live comfortably in Minneapolis (zip 55419), Minnesota, a minimum annual income of
$79,920 for a family, and
$48,800 for a single person is recommended.
What does A.I. say about Minneapolis?
The cost of living in Minneapolis, MN (55419) is significantly higher than the national average. According to various sources, the overall cost of living index in the area is nearly 115.7, which is well above the U.S. average of 100. Housing prices are particularly high, which contributes to the high cost of living—according to Zillow’s home value index, the median home value in 55419 is around $245,000 and has been steadily increasing over time. Additionally, costs for essentials such as food and transportation are above average when compared to other cities across the nation. Overall, living in Minneapolis can be expensive; however, it is an exciting place with plenty of activities and attractions that make it worth it for many people seeking a metropolitan lifestyle.