Home › Compare › Minneapolis, MN vs New York, NY

Cost of Living: Minneapolis, MN vs New York, NY

A data-driven comparison of housing, groceries, transportation, taxes, job market and more. See which city gives you more for your money.

39.4% New York, NY is more expensive overall
80.6% 80.6% more expensive housing
14.9% 14.9% more expensive groceries
Updated April 2026 · Data: Bureau of Labor Statistics, U.S. Census Bureau National average = 100

At a Glance

🏠 Housing 80.6% more
Minneapolis
108
New York
195
🛒 Groceries 14.9% more
Minneapolis
101
New York
116
🚗 Transportation 22.6% more
Minneapolis
106
New York
130
🏥 Healthcare 15.0% more
Minneapolis
100
New York
115
⚡ Utilities 17.9% more
Minneapolis
95
New York
112

Detailed Breakdown

Category Minneapolis, MN New York, NY Difference
Overall Cost Index10414539.4% more
Housing10819580.6% more
Median 1BR Rent$1,350$3,200137.0% more
Median Home Price$330,000$750,000127.3% more
Groceries10111614.9% more
Transportation10613022.6% more
Healthcare10011515.0% more
Utilities9511217.9% more

Tax Comparison

Tax Type Minneapolis, MN New York, NY
State Income Tax9.85% (top)10.90% (top)
State Sales Tax6.88%4.00%
Avg Property Tax Rate1.02%1.40%
Estate / Inheritance TaxYesYes

What You'd Need to Earn

Minneapolis, MN
$76,000
Median household income
New York, NY
$115,000
Median household income
✅ Good news: Income in New York outpaces the cost difference, so your purchasing power should hold up.

Salary Equivalent Calculator

Find out what you'd need to earn in New York to maintain your Minneapolis lifestyle.

→
$—

Based on overall cost index: Minneapolis (104) vs New York (145). This is an estimate for comparison purposes.

Job Market Snapshot

Unemployment Rate
Minneapolis3.2%
New York5.1%
Job Growth (YoY)
Minneapolis2.5%
New York2.8%
Top Industries
MinneapolisHealthcare, Finance, Retail
New YorkFinance, Media, Tech

Quality of Life

Avg Commute
Minneapolis25 min
New York41 min
Walk Score
Minneapolis69
New York89
Air Quality (AQI)
Minneapolis36
New York48
Avg Temperature
Minneapolis45°F
New York55°F
Population
Minneapolis425,336
New York8,258,035

Moving from Minneapolis to New York?

Get free, no-obligation moving quotes from top-rated movers. Compare prices and save up to 40% on your move.

Get My Free Moving Estimate →
✓ 500+ vetted movers ✓ Free quotes in 24hrs ✓ No obligation

Planning Your Move?

Here are some helpful resources if you're considering relocating.

🏠 Find ApartmentsBrowse rentals in Minneapolis and New York → 🚚 Get Moving QuotesCompare prices from top movers → 📈 Check Home ValuesSee real estate trends in both cities → 💼 Search JobsFind open positions in New York →

Compare Other Cities

Minneapolis vs Austin → Minneapolis vs Denver → Minneapolis vs Nashville → New York vs Raleigh → New York vs Portland → New York vs Phoenix →

Frequently Asked Questions

Is Minneapolis or New York cheaper to live in?+
Minneapolis is the more affordable option overall. The biggest difference is in housing costs, where the gap is about 80.6%. Day-to-day expenses like groceries and transportation are closer between the two cities.
How much is rent in Minneapolis vs New York?+
A typical one-bedroom apartment costs around $1,350/month in Minneapolis and $3,200/month in New York — a difference of about $1,850 per month.
Which city has lower taxes, Minneapolis or New York?+
Minnesota has a state income tax of 9.85% (top) and sales tax of 6.88%. New York has a state income tax of 10.90% (top) and sales tax of 4.00%. Consider all tax types together when evaluating total tax burden, as states with no income tax often compensate with higher sales or property taxes.
Can I afford to move from Minneapolis to New York?+
Median household income in Minneapolis is $76,000 compared to $115,000 in New York. Use the salary calculator above to see what you'd need to earn to maintain your current standard of living.
What about buying a home in Minneapolis vs New York?+
The median home price in Minneapolis is $330,000 versus $750,000 in New York — a difference of $420,000. Property tax rates also differ: Minnesota averages 1.02% while New York averages 1.40%.