Housing costs in Minneapolis?
A typical home costs
$403,500, which is 19.3% more expensive than the national average of
$338,100 and 30.4% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Minneapolis costs
$1,440 per month, which is 16.1% more than the national average of
$1,240 and 2.8% more than the state average of
$1,400.
Can I afford Minneapolis?
To live comfortably in Minneapolis (zip 55455), Minnesota, a minimum annual income of
$77,400 for a family, and
$47,200 for a single person is recommended.
What does A.I. say about Minneapolis?
The cost of living in 55455 Minneapolis, MN is quite high. According to the Cost of Living Index, the overall cost of living in 55455 is approximately 24% higher than the national average. Rent prices in the area are especially high, with an average two-bedroom apartment costing around $1,700 per month. Utilities are also expensive, with electricity costing around $150 per month and heating oil costing around $350 per month. Groceries can also be costly, with a typical grocery bill for a family of four coming out at around $500 per month. With these costs in mind, it's important to plan carefully and budget accordingly when considering life in 55455 Minneapolis, MN.