Is Minneapolis expensive to live in?
Median income: $66,023. Median rent: $1,350. Median home price: $315,000.
Relocation guide · Minnesota
Moving to Minneapolis, MN
Minneapolis, MN city guide. Population is 429,954. Median household income is $66,023. Median rent is $1,350.
Median Rent
$1,350/mo
Median Income
$66,023
State Tax
9.85%
Population
429,954
Cost of living
What you'll spend in Minneapolis
Median income: $66,023. Median rent: $1,350. Median home price: $315,000.
Median Rent/mo
$1,350
Median Home Price
$315,000
Median Income
$66,023
Rent-to-Income
25%
Taxes
Your tax situation in Minnesota
State tax rate: 9.85%. Local tax rate: 8.03%.
State Income Tax
9.85%
Local Tax Rate
8.03%
Climate
Weather in Minneapolis
Average high: 55°F. Average low: 37°F. Annual rainfall: 30 inches. Sunny days: 198.
Avg High Temp
55°F
Avg Low Temp
37°F
Sunny Days/yr
198
Annual Rainfall
30"
Relocation checklist
Before you move to Minneapolis
Use this checklist to stay organized during your move.
- ✓Research neighborhoods and commute routes
- ✓Compare rent vs buying based on your timeline
- ✓Check state income tax impact on your salary
- ✓Verify employer presence or remote work infrastructure
- ✓Review health insurance and healthcare options
- ✓Update driver's license and vehicle registration
- ✓Transfer voter registration to new state
- ✓Find a local bank or update your address
- ✓Research school districts if moving with children
- ✓Get quotes from at least 3 moving companies
Considering other cities?
Compare Minneapolis with similar cities
Frequently asked questions about moving to Minneapolis
What is the average rent in Minneapolis?
The median rent in Minneapolis is $1,350/month. Median home price is $315,000. Many newcomers rent for the first year to learn the neighborhoods before buying.
Does Minnesota have a state income tax?
State tax rate: 9.85%. Local tax rate: 8.03%.
What is Minneapolis known for?
Minneapolis, MN city guide. Population is 429,954. Median household income is $66,023. Median rent is $1,350.
What should I know before moving to Minneapolis?
Research neighborhoods carefully — Minneapolis has significant variation in cost and lifestyle by area.
Data sourced from U.S. Census Bureau, Bureau of Labor Statistics, and NOAA. Updated 2026.