Quick answer
Chicago is 20% cheaper than Minneapolis overall. A $100K salary in Chicago is equivalent to $120,000 in Minneapolis.
Cost of Living Comparison · 2026
Chicago vs Minneapolis Cost of Living (2026)
Side-by-side cost comparison plus a salary calculator to find your equivalent pay in either city.
Overall COL difference
Chicago is 20% cheaper
1BR rent difference
-25% (B vs A)
$100K in A = in B
$120,000
Chicago vs Minneapolis: Side-by-Side
1BR median rent
$1,850/mo
$1,380/mo
-25%
2BR median rent
$2,350/mo
$1,750/mo
-26%
Median home price
$340K
$320K
-6%
Avg monthly groceries
$390
$360
-8%
Avg monthly utilities
$155
$155
+0%
State income tax
4.95%
Up to 9.85%
Chicago saves
Walk score
78/100
69/100
Chicago better
Transit score
65/100
55/100
Chicago better
Salary Equivalency Calculator
How much you need to earn in Minneapolis to maintain the same standard of living as your current Chicago salary — and vice versa.
$60,000
$72,000
$50,000
$80,000
$96,000
$67,000
$100,000
$120,000
$84,000
$120,000
$144,000
$100,000
$150,000
$179,000
$125,000
Calculated using a weighted index: rent (40%), home prices (20%), groceries (20%), utilities (10%), state income tax (10%). Individual lifestyles vary.
Monthly Budget: Chicago vs Minneapolis
Who Each City Is Best For
Chicago is best for
- ✓urban explorers
- ✓foodies
- ✓architecture lovers
- ✓transit users
Minneapolis is best for
- ✓corporate professionals
- ✓healthcare workers
- ✓outdoor enthusiasts (winter sports)
- ✓arts and culture seekers
FAQs
Is Chicago or Minneapolis cheaper to live in?
Chicago is 20% cheaper than Minneapolis overall. Chicago 1BR rent ($1,850/mo) vs Minneapolis ($1,380/mo). Median home price: Chicago $340K vs Minneapolis $320K.
How much salary do I need in Minneapolis to match $100K in Chicago?
$120,000 in Minneapolis is equivalent to $100,000 in Chicago based on cost of living differences. The biggest factors are rent (-25% difference) and state taxes (Chicago: 4.95% vs Minneapolis: Up to 9.85%).
What is the rent difference between Chicago and Minneapolis?
1BR: Chicago $1,850/mo vs Minneapolis $1,380/mo (-25%). 2BR: Chicago $2,350/mo vs Minneapolis $1,750/mo (-26%).
Does Chicago or Minneapolis have lower taxes?
Chicago (IL) has 4.95% state income tax. Minneapolis (MN) has Up to 9.85% state income tax. On a $100K salary, the annual tax difference is ~$4,900.