Question 1

What is the cost of living in Minnesota?

Accepted Answer

Minnesota has an average cost of living index of 92, which is 17% below the national average of 111. Average monthly rent across tracked cities is $1,562, and average median household income is $76,662.

Question 2

What is the cheapest city in Minnesota?

Accepted Answer

St Paul is the most affordable city tracked in Minnesota, with a cost index of 87 and median rent of $1,485/month.

Question 3

What is the most expensive city in Minnesota?

Accepted Answer

Minneapolis is the most expensive city tracked in Minnesota, with a cost index of 96 and median rent of $1,638/month.

Question 4

What is the average rent in Minnesota?

Accepted Answer

The average monthly rent across 2 tracked cities in Minnesota is $1,562. The cheapest rent is in St Paul at $1,485/month.

Question 5

What is the average household income in Minnesota?

Accepted Answer

The average median household income across tracked cities in Minnesota is $76,662. The highest-earning city is Minneapolis at $80,269.

Question 6

Is Minnesota affordable to live in?

Accepted Answer

Minnesota's average rent-to-income ratio is 24.4%. Financial advisors recommend keeping rent below 30% of gross income. Minnesota is generally considered affordable, with rent taking less than 30% of typical incomes.

City	Cost	Rent	Income	Home Price	Pop	Rent/Inc
Minneapolis	96	$1,638	$80,269	$327,043	425,115	24.5%
St Paul	87	$1,485	$73,055	$289,137	303,820	24.4%

City	Cost	Rent	Income	Home Price	Pop	Rent/Inc
Minneapolis	96	$1,638	$80,269	$327,043	425,115	24.5%
St Paul	87	$1,485	$73,055	$289,137	303,820	24.4%

Minnesota

Core metrics, city comparisons, and tax signals

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Minnesota

Core metrics, city comparisons, and tax signals