Quick answer
Minneapolis is 37% cheaper than New York overall. A $100K salary in New York is equivalent to $63,000 in Minneapolis.
Cost of Living Comparison · 2026
New York 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
Minneapolis is 37% cheaper
1BR rent difference
-57% (B vs A)
$100K in A = in B
$63,000
New York vs Minneapolis: Side-by-Side
1BR median rent
$3,200/mo
$1,380/mo
-57%
2BR median rent
$4,500/mo
$1,750/mo
-61%
Median home price
$750K
$320K
-57%
Avg monthly groceries
$480
$360
-25%
Avg monthly utilities
$165
$155
-6%
State income tax
Up to 10.9%
Up to 9.85%
Minneapolis saves
Walk score
88/100
69/100
New York better
Transit score
89/100
55/100
New York better
Salary Equivalency Calculator
How much you need to earn in Minneapolis to maintain the same standard of living as your current New York salary — and vice versa.
$60,000
$38,000
$95,000
$80,000
$50,000
$127,000
$100,000
$63,000
$159,000
$120,000
$76,000
$191,000
$150,000
$94,000
$238,000
Calculated using a weighted index: rent (40%), home prices (20%), groceries (20%), utilities (10%), state income tax (10%). Individual lifestyles vary.
Monthly Budget: New York vs Minneapolis
Who Each City Is Best For
New York is best for
- ✓finance professionals
- ✓media & entertainment workers
- ✓ambitious 20-somethings
- ✓culture seekers
Minneapolis is best for
- ✓corporate professionals
- ✓healthcare workers
- ✓outdoor enthusiasts (winter sports)
- ✓arts and culture seekers
FAQs
Is New York or Minneapolis cheaper to live in?
Minneapolis is 37% cheaper than New York overall. Minneapolis 1BR rent ($1,380/mo) vs New York ($3,200/mo). Median home price: Minneapolis $320K vs New York $750K.
How much salary do I need in Minneapolis to match $100K in New York?
$63,000 in Minneapolis is equivalent to $100,000 in New York based on cost of living differences. The biggest factors are rent (-57% difference) and state taxes (New York: Up to 10.9% vs Minneapolis: Up to 9.85%).
What is the rent difference between New York and Minneapolis?
1BR: New York $3,200/mo vs Minneapolis $1,380/mo (-57%). 2BR: New York $4,500/mo vs Minneapolis $1,750/mo (-61%).
Does New York or Minneapolis have lower taxes?
New York (NY) has Up to 10.9% state income tax. Minneapolis (MN) has Up to 9.85% state income tax. On a $100K salary, the annual tax difference is ~$1,050.