State profile
Minnesota Cost of Living Comparison
Minnesota's 2024 price level is 98.621, 1.38% below the national level, and it costs more than every one of its four neighbours; goods, at 100.519, are slightly above the U.S. level.
Updated
98.621Minnesota all-items price level, U.S. = 100 · rank 30 of 51, lowest first
| Measure | Minnesota | Utah | First − second |
|---|---|---|---|
| All-items price level | 98.621 | 98.864 | −0.243 points |
| Rent price level | 91.281 | 107.814 | −16.533 points |
| Home value | $329,300±$903 | $489,400±$1,629 | −$160,100 |
| Two-bedroom gross rent | $1,356±$10 | $1,423±$13 | −$67 |
| Household income | $89,062±$409 | $95,166±$774 | −$6,104 |
| Real estate taxes paid | $3,357±$10 | $2,525±$10 | +$832 |
$4,000 of monthly spending in Minnesota scales to $4,010 in Utah at the 2024 all-items price ratio.
BEA 2024 and ACS 2020–2024; ± marks the Census 90% margin. How to read a gap
Minnesota: the expensive middle of the Upper Midwest
Minnesota sits above its region. Iowa (87.762), South Dakota (88.586), North Dakota (88.959) and Wisconsin (94.095) all have lower price levels, and their two-bedroom gross-rent medians run from $950 to $1,106, against Minnesota's $1,356. The premium is broad rather than concentrated: goods rank 41st of 51, other services 30th, rents (91.281) 29th and utilities (90.836) 28th.
Housing measures are almost all mid-table. Housing sits squarely in the national middle: home value and two-bedroom rent both rank 23rd, owner costs 20th and the property-tax bill 18th.
Incomes are where Minnesota pulls ahead. The median household income of $89,062 ranks 14th, and real per capita personal income, adjusted for prices, is $62,039, also rank 14, about 4.8% above the U.S. figure.
The state government collects more than most: $36.89 billion in fiscal 2025, $6,327 per resident, rank 11. Individual income tax supplied 37.8%, general sales 23.4%, corporate income tax 16.1% and other selective sales 11.4%. Those state figures exclude local sales taxes, which matter in a Minnesota vs Wisconsin purchase comparison.
The relative price level has been stable: 97.766 in 2020, 98.396 in 2021, 97.457 in 2022, and 98.621 in 2024, a net rise of 0.855 points. Utah (98.864) is the closest price level nationally.
Category price levels in Minnesota
| Category | Parity | Rank, low first | vs U.S. |
|---|---|---|---|
| All items | 98.621 | 30 | 1.38% below |
| Goods | 100.519 | 41 | 0.52% above |
| Housing (rents) | 91.281 | 29 | 8.72% below |
| Utilities | 90.836 | 28 | 9.16% below |
| Other services | 100.213 | 30 | 0.21% above |
| Real income per person, 2017 $ | $62,039 | 14 | U.S. $59,195 |
All items by year: 2020 97.766 · 2021 98.396 · 2022 97.457 · 2023 98.302 · 2024 98.621 (+0.855 since 2020). How to read categories and trends
Monthly housing costs
- Owners with a mortgage
- $1,947±$7 · rank 20, high first
- Owners without a mortgage
- $698±$3 · rank 13
- Renters: gross rent / income
- 29.2%±0.3 · rank 30
Minnesota state tax collections, FY2025
$36.89 billion in total, $6,327 per resident. Scope of these figures
| Tax | FY2025 | Share | Per resident |
|---|---|---|---|
| Individual income | $13.96 billion | 37.8% | $2,394 |
| General sales | $8.62 billion | 23.4% | $1,478 |
| Property | $746.8 million | 2.0% | $128 |
| Motor fuel | $924.2 million | 2.5% | $159 |
| Other selective sales | $4.20 billion | 11.4% | $721 |
| Corporate income | $5.93 billion | 16.1% | $1,017 |
| Licenses | $1.81 billion | 4.9% | $311 |
| Severance | $66.9 million | 0.2% | $11 |
| Other taxes | $629.4 million | 1.7% | $108 |
Minnesota beside its neighbours
| Jurisdiction | All items | Rents | Goods | 2BR rent |
|---|---|---|---|---|
| Minnesota | 98.621 | 91.281 | 100.519 | $1,356 |
| Iowa | 87.762 | 65.322 | 93.730 | $989 |
| North Dakota | 88.959 | 71.421 | 95.701 | $950 |
| South Dakota | 88.586 | 67.642 | 95.473 | $987 |
| Wisconsin | 94.095 | 79.312 | 94.310 | $1,106 |
Before you budget a move
A Minnesota comparison can place a household-income benchmark beside a rental benchmark without assuming they describe the same household. Use the income figure to understand the state distribution, then return to the offered job, benefits and number of earners in your own plan.
For Minneapolis–Saint Paul or another destination, build a full-year lease and commuting budget. A move to or from Wisconsin also requires the actual residence and employment details for tax preparation. The verified state table measures prices and medians; it does not infer cross-border household liability.
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