Housing costs in Minneapolis?
A typical home costs
$213,700, which is 36.8% less expensive than the national average of
$338,100 and 31.0% less 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 55412), Minnesota, a minimum annual income of
$41,040 for a family, and
$48,800 for a single person is recommended.
What does A.I. say about Minneapolis?
Living in 55412 Minneapolis, MN is relatively affordable. The median home cost in the area is $290,200 and the median rent is $1,209 a month. Compared to the national average of $231,200 and $1,065 respectively, this is slightly higher but still very manageable. Other cost of living expenses are relatively low in the area; groceries are about 6% lower than the national average while utilities and health care costs are about 8-9% lower than the national average. This makes Minneapolis a great place to live for those on a budget or looking to save money.