Housing costs in Minneapolis?
A typical home costs
$413,000, which is 22.2% more expensive than the national average of
$338,100 and 33.4% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Minneapolis costs
$1,380 per month, which is 11.3% more than the national average of
$1,240 and close to the state average of
$1,400.
Can I afford Minneapolis?
To live comfortably in Minneapolis (zip 55405), Minnesota, a minimum annual income of
$79,200 for a family, and
$45,200 for a single person is recommended.
What does A.I. say about Minneapolis?
The cost of living in 55405 Minneapolis, MN is relatively high due to its status as a major metropolitan area. According to BestPlaces, the cost of living index for Minneapolis is 109.7 (with the U.S. average being 100). This means that goods and services are roughly nine percent more expensive in Minneapolis than the average across the country. Housing costs are particularly expensive, with a one-bedroom apartment in the city center averaging around $1,400 per month. Groceries and transportation also tend to be pricier than other places in the U.S., while utility costs are about on par with what you'd expect elsewhere.