Cost of Living: Miami, FL vs Minneapolis, MN (2026)

Miami

Florida
129
VS

Minneapolis

Minnesota
102

Miami is 27% more expensive than Minneapolis.

$1,657/mo ↑ 25%
Median Rent
$1,329/mo ↓ 20%
$59,390/yr ↓ 26%
Median Income
$80,269/yr ↑ 35%
$475,200 ↑ 38%
Home Value
$345,600 ↓ 27%
$1,666/mo ↑ 10%
Owner Costs
$1,513/mo ↓ 9%
446,663
Population
426,845

Tax Comparison

0%
Income Tax
9.85%
6.0%
Sales Tax
6.875%
0.86%
Property Tax
1.11%

Affordability

33.5%
rent-to-income
Affordability
19.9%
rent-to-income

Detailed Comparison

When comparing Miami, FL and Minneapolis, MN, the overall cost of living indices are 129 and 102 respectively (national median = 100). Rent is $328/month cheaper in Minneapolis, saving renters about $3,936/year.

Median household income is $20,879/year higher in Minneapolis. Home values also differ significantly — the median in Miami is $475,200 compared to $345,600 in Minneapolis.

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

Frequently Asked Questions

Miami vs Minneapolis — common questions

Is Miami or Minneapolis cheaper to live in?
Based on our cost index, Minneapolis is cheaper to live in with an index of 102 compared to 129 (US average = 100).
What is the rent difference between Miami and Minneapolis?
Median rent in Miami is $1,657/month and in Minneapolis it's $1,329/month — a difference of $328/month.
Which city has higher income, Miami or Minneapolis?
Median household income is $59,390 in Miami and $80,269 in Minneapolis. Median household income is $20,879/year higher in Minneapolis.
How do taxes compare between Florida and Minnesota?
Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax. Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax.
Should I move to Miami or Minneapolis?
It depends on your priorities. Miami has a cost index of 129 with median rent of $1,657/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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