Cost of Living: Austin, TX vs Minneapolis, MN (2026)

Austin

Texas
134
VS

Minneapolis

Minnesota
102

Austin is 31% more expensive than Minneapolis.

$1,655/mo ↑ 25%
Median Rent
$1,329/mo ↓ 20%
$91,461/yr ↑ 14%
Median Income
$80,269/yr ↓ 12%
$512,700 ↑ 48%
Home Value
$345,600 ↓ 33%
$1,747/mo ↑ 15%
Owner Costs
$1,513/mo ↓ 13%
967,862
Population
426,845

Tax Comparison

0%
Income Tax
9.85%
6.25%
State Sales Tax
6.875%
1.6%
Property Tax
1.11%

Affordability

21.7%
rent-to-income
Affordability
19.9%
rent-to-income

Detailed Comparison

When comparing Austin, TX and Minneapolis, MN, the overall cost of living indices are 134 and 102 respectively (national median = 100). Rent is $326/month cheaper in Minneapolis, saving renters about $3,912/year.

Median household income is $11,192/year higher in Austin. Home values also differ significantly — the median in Austin is $512,700 compared to $345,600 in Minneapolis.

Texas has no state income tax, giving Austin residents a significant tax advantage over Minnesota's 9.85% rate.

Frequently Asked Questions

Austin vs Minneapolis — common questions

Is Austin or Minneapolis cheaper to live in?
Based on our cost index, Minneapolis is cheaper to live in with an index of 102 compared to 134 (US average = 100).
What is the rent difference between Austin and Minneapolis?
Median rent in Austin is $1,655/month and in Minneapolis it's $1,329/month — a difference of $326/month.
Which city has higher income, Austin or Minneapolis?
Median household income is $91,461 in Austin and $80,269 in Minneapolis. Median household income is $11,192/year higher in Austin.
How do taxes compare between Texas and Minnesota?
Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax. Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax.
Should I move to Austin or Minneapolis?
It depends on your priorities. Austin has a cost index of 134 with median rent of $1,655/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.
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