Housing costs in Minneapolis?
A typical home costs
$173,100, which is 48.8% less expensive than the national average of
$338,100 and 44.1% less 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 55454), Minnesota, a minimum annual income of
$33,120 for a family, and
$39,200 for a single person is recommended.
What does A.I. say about Minneapolis?
The cost of living in 55454 Minneapolis, MN is relatively high compared to the national average. According to BestPlaces's Cost of Living Index, for 2020 the city had an overall score of 83.2 out of 100, which is 17% higher than the U.S. average. Housing prices are generally high and rent costs can be steep, with a one-bedroom apartment averaging $1,187 per month and a three-bedroom averaging $1,664 per month. Groceries also tend to be more expensive than elsewhere in the country; however, transportation costs are slightly lower than other cities due to good public transportation options in the area.