Minneapolis, MN variant. This is a Minneapolis, MN-specific version of the Salary Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Salary Calculator.
A salary in Minneapolis must be weighed against a cost-of-living index of 109 (US avg = 100) and a $320,000 median home. The same paycheck stretches very differently here than in a cheaper metro.
Salary vs. cost of living in Minneapolis
Minneapolis's cost-of-living index of 109 means goods and housing cost about 9% more than the national average. To match a $60,000 lifestyle elsewhere you'd need roughly $65,400 here.
The $76,332 local median income and $1,700/month median rent set realistic expectations for Minneapolis.
About Minneapolis, MN
Minneapolis applies Minnesota state income and sales taxes.
Minneapolis offers moderate home prices for a major metro.
Minneapolis hosts numerous corporate headquarters across retail, food, and finance, with a cost of living above the national average.
Worked example: cost-of-living adjustment
A $70,000 offer in Minneapolis (index 109) has the buying power of about $64,220 in an average-cost city. Rent alone runs ~$20,400/year.
Quick reference
- Median home value: $320,000
- Median rent: $1,700/mo
- Median household income: $76,332
- Local sales tax: 8.025%
- Effective property tax rate: 1.36%
- Cost of living index: 109 (US avg = 100)
Frequently Asked Questions
Is Minneapolis expensive?
Its cost-of-living index is 109 vs. the US average of 100, so it's above average.
What salary do I need in Minneapolis?
Scale your target lifestyle by the 109 index - e.g., $65,400 to match a $60k lifestyle.