Housing costs in Minneapolis?
A typical home costs
$387,500, which is 14.6% more expensive than the national average of
$338,100 and 25.2% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Minneapolis costs
$1,210 per month, which is 2.4% cheaper than the national average of
$1,240 and 15.7% cheaper than the state average of
$1,400.
Can I afford Minneapolis?
To live comfortably in Minneapolis (zip 55450), Minnesota, a minimum annual income of
$74,160 for a family, and
$39,600 for a single person is recommended.
What does A.I. say about Minneapolis?
The cost of living in 55450 Minneapolis, MN is quite high compared to other cities in the United States. According to data from BestPlaces, the overall cost of living index in Minneapolis is about 146.7 which is higher than the national average of 100. This means that goods and services are more expensive here than they are elsewhere. In particular, housing costs are very high – the median rent for a one bedroom apartment is around $1,400 per month while groceries and other basic necessities can also be pricey due to the higher demand in this area. Overall, it's important to factor in these costs when considering whether or not Minneapolis is a good fit for you.