Cities › Minnesota › Minneapolis

Minneapolis, MN Relocation Guide (2026)

Cost of living, housing, and income data for Minneapolis, sourced from the US Census Bureau.

Salary needed to live in Minneapolis →

Source: US Census Bureau ACS 5-Year (2022). Last updated July 2026.

Population in Minneapolis, Minnesota runs approximately 426,877. Median household income sits at $76,332, landing roughly in line with the benchmark median we track across cities (+6%).

For renters and buyers alike, Minneapolis offers a median home value of $328,700 (roughly in line with the tracked median, +1%) and median rent of $1,267 monthly. Local property taxes and current mortgage rates will shape the real cost of buying.

Home prices in Minneapolis run about 4.3× median household income — a middle-of-the-road ratio, neither a bargain nor a stretch by our tracked standards. Prices in the area have gained 3.01% year over year, a moderate pace that suggests a stable market around Minneapolis. Climate and natural-hazard risk in Minneapolis runs on the higher side, per FEMA's Relatively High rating — insurance premiums often track this closely.

Personal Affordability Check

Cost of housing in Minneapolis

Median home value is $328,700 and median gross rent is $1,267/month. For buyers, monthly costs depend heavily on current mortgage rates — worth checking before you commit.

FHFA's county-level home price index for Hennepin rose 3.01% over the past year (as of 2025).

HUD's FY 2026 Fair Market Rent for a 2-bedroom unit in the surrounding county is $1,709/month.

Climate & home insurance

FEMA rates Minneapolis's overall natural-hazard risk as Relatively High. Risk level is a major driver of home insurance premiums.

Safety

Minneapolis reported a violent crime rate of 1005 per 100,000 residents in 2025, per FBI data.

Moving to Minneapolis

Planning a move to Minneapolis? Compare licensed movers and get quotes based on your origin and move date.

Cost estimates for moving between Minneapolis and nearby popular destinations:

• Moving from Minneapolis to Phoenix
• Moving from Minneapolis to Tampa
• Moving from Minneapolis to Atlanta
• Moving from Minneapolis to Nashville-Davidson metropolitan government (balance)
• Moving from Minneapolis to Dallas
• Moving from Minneapolis to Denver
• Moving from Minneapolis to Charlotte

Frequently asked questions

What is the cost of living in Minneapolis, MN?

For a quick read on Minneapolis: homes carry a median value of $328,700, rent runs a median $1,267 monthly, and household income is a median $76,332, all from the US Census Bureau ACS 5-Year (2022).

How much do you need to earn to live comfortably in Minneapolis?

Minneapolis's median rent of $1,267/month works out to roughly $50,680 in annual income needed, if you're budgeting the standard 30% of gross pay toward rent. See the full salary breakdown (renting and buying) for Minneapolis.

Is it better to rent or buy in Minneapolis?

Minneapolis's median rent of $1,267/month translates to about $50,680 a year needed to rent comfortably, versus roughly $75,205 a year for principal and interest on the $328,700 median home (20% down, 30-year fixed, today's rates). How long you'll stay is usually the deciding factor.

Is Minneapolis safe?

Per FBI Crime Data Explorer figures, Minneapolis's violent crime rate was 1005 per 100,000 residents in 2025.

See the full salary breakdown for Minneapolis →

Compare Minneapolis to similar cities

• Phoenix vs Minneapolis: Cost of Living & Housing Comparison
• Tampa vs Minneapolis: Cost of Living & Housing Comparison
• Atlanta vs Minneapolis: Cost of Living & Housing Comparison
• Minneapolis vs Nashville: Cost of Living & Housing Comparison
• Minneapolis vs Dallas: Cost of Living & Housing Comparison
• Denver vs Minneapolis: Cost of Living & Housing Comparison

Cities with a similar cost of living

Matched on median rent and household income within 15% of Minneapolis's.