Cost of Living: Albuquerque, NM vs Minneapolis, MN (2026)

Albuquerque

New Mexico

Minneapolis

Minnesota

102

Albuquerque is 22% cheaper than Minneapolis.

$1,085/mo ↓ 18%

Median Rent

$1,329/mo ↑ 22%

$65,604/yr ↓ 18%

Median Income

$80,269/yr ↑ 22%

$266,700 ↓ 23%

Home Value

$345,600 ↑ 30%

$1,149/mo ↓ 24%

Owner Costs

$1,513/mo ↑ 32%

562,488

Population

426,845

Tax Comparison

5.9%

Income Tax

9.85%

5.0%

Sales Tax

6.875%

0.67%

Property Tax

1.11%

Affordability

19.8%

rent-to-income

Affordability

19.9%

rent-to-income

Detailed Comparison

When comparing Albuquerque, NM and Minneapolis, MN, the overall cost of living indices are 80 and 102 respectively (national median = 100). Rent is $244/month cheaper in Albuquerque, saving renters about $2,928/year.

Median household income is $14,665/year higher in Minneapolis. Home values also differ significantly — the median in Albuquerque is $266,700 compared to $345,600 in Minneapolis.

New Mexico has a lower income tax rate, making Albuquerque slightly more tax-friendly.

Frequently Asked Questions

Albuquerque vs Minneapolis — common questions

Is Albuquerque or Minneapolis cheaper to live in?

Based on our cost index, Albuquerque is cheaper to live in with an index of 80 compared to 102 (US average = 100).

What is the rent difference between Albuquerque and Minneapolis?

Median rent in Albuquerque is $1,085/month and in Minneapolis it's $1,329/month — a difference of $244/month.

Which city has higher income, Albuquerque or Minneapolis?

Median household income is $65,604 in Albuquerque and $80,269 in Minneapolis. Median household income is $14,665/year higher in Minneapolis.

How do taxes compare between New Mexico and Minnesota?

New Mexico has 5.9% income tax, 5.0% sales tax, and 0.67% property tax. Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax.

Should I move to Albuquerque or Minneapolis?

It depends on your priorities. Albuquerque has a cost index of 80 with median rent of $1,085/mo, while Minneapolis has a cost index of 102 with rent of $1,329/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.