Cost of Living in Minneapolis, MN
Cost of Living in Minneapolis, MN | Compared to State Average | Compared to National Average |
---|---|---|
Housing (Buy and Rent) | 5% higher | 9% lower |
Utilities (Monthly) | 0% | 2% lower |
Food | 4% lower | 4% lower |
Healthcare | 7% lower | 2% higher |
Transportation | 4% higher | 3% higher |
Goods & Services | 1% lower | 2% higher |
The cost of living in Minneapolis, MN is 1% higher than the state average and 2% lower than the national average. Minneapolis, MN housing is 9% cheaper than the U.S average, while utilities are about 2% less pricey. When it comes to basic necessities such as food and clothing, groceries are around 2% more in Minneapolis, MN than in the rest of the country, while clothing costs around 2% more .
Healthcare services such as doctor check-ups and dentistry cost 2% more here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 2% pricier in Minneapolis, MN.
Housing is the most significant expense for most American households. The cost of living in a certain city takes into account both the price of rent and the price of a home. The average monthly rent in Minneapolis is $1,584, while home prices circle around $404,458.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Minneapolis, energy bills cost around $176.21 per month.
Food is the most important necessity and its cost varies around the country. This section includes the prices of everyday foods such as produce, meat and dairy. A bottle of milk costs about $2.85 in Minneapolis, a dozen eggs go for around $2.51 and a pound of potatoes circles around $3.35.
The benchmark for this category is based on the prices of family doctor visits and specialized services such as optometry. In Minneapolis, an optometry check-up costs around $104.09, while a dentist appointment is priced $89.42 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $3.77 in Minneapolis, while getting your tires balanced will run you about $61.13.
The cost of clothing tells you how much more or less money you need to buy basic items such as jeans, shirts or slacks in a new city. A men's shirt costs around $35.30 here. Meanwhile, a pair of women's slacks will set you back around $41.35.
The cost of entertainment and everyday services is based on common expenses in each category. For a movie ticket in Minneapolis, you should budget around $11.02 a month. When it comes to personal services, a haircut usually goes for $25.41, while dry cleaning costs about $15.13.
The cost of living also takes median household income into account, so you can estimate how much more or less you could be earning in a new city by comparing it to the income in your current area. In Minneapolis, the median household income is $76,332.