Minnesota Cost of Living Calculator
Compare Minnesota cost of living (index: 96.8). Calculate equivalent salary needed when moving to or from Minnesota.
How This Calculator Works
Calculation methodology and assumptions
This calculator compares purchasing power between locations using cost of living indices. Minnesota's cost of living index is 96.8 (100 = national average). The equivalent salary is calculated as: Current Salary × (Target COL / Current COL). Tax differences are also factored in to show the net financial impact of relocating.
Key State Information
Minnesota cost of living index: 96.8. Minnesota is close to the national average in overall cost. Median household income: $77,706. Median 2BR rent: $1160/month.
Frequently Asked Questions
What is the cost of living in Minnesota?
Minnesota's cost of living index is 96.8, where 100 is the national average. This means living in Minnesota costs about 3% less than the national average.
Is Minnesota expensive to live in?
Minnesota has a moderate cost of living, close to the national average. Median home price: $330,000.
How much do I need to earn in Minnesota to live comfortably?
Based on a cost of living index of 96.8 and the 50-30-20 budgeting rule, a comfortable salary in Minnesota would be approximately $44,915/year for a single person renting a 2BR apartment.
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