Cost of Living in Minneapolis, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
129.4
100 = national avg
+29.4 vs national average
Living Wage (1 Adult)
$56,924
per year
Living Wage (Family of 4)
$134,547
per year
Cost Index by Category
Housing163.1
Food111.4
Transportation95.6
Healthcare109.1
Utilities119.4
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,405
per month
2 Bedroom
$1,709
per month
The overall cost of living index in Minneapolis is 129.4, which is 29.4% above the national average. Housing costs are above the national average at an index of 163.1. A single adult needs to earn approximately $56,924 per year to cover basic expenses.