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

Minneapolis

Minnesota
102
VS

Cape Coral

Florida
114

Minneapolis is 11% cheaper than Cape Coral.

$1,329/mo ↓ 24%
Median Rent
$1,751/mo ↑ 32%
$80,269/yr ↑ 6%
Median Income
$76,062/yr ↓ 5%
$345,600 ↑ 2%
Home Value
$339,200 ↓ 2%
$1,513/mo ≈ Same
Owner Costs
$1,523/mo ≈ Same
426,845
Population
206,387

Tax Comparison

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

Affordability

19.9%
rent-to-income
Affordability
27.6%
rent-to-income

Detailed Comparison

When comparing Minneapolis, MN and Cape Coral, FL, the overall cost of living indices are 102 and 114 respectively (national median = 100). Rent is $422/month cheaper in Minneapolis, saving renters about $5,064/year.

Median household income is $4,207/year higher in Minneapolis. Home values also differ significantly — the median in Minneapolis is $345,600 compared to $339,200 in Cape Coral.

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

Frequently Asked Questions

Minneapolis vs Cape Coral — common questions

Is Minneapolis or Cape Coral cheaper to live in?
Based on our cost index, Minneapolis is cheaper to live in with an index of 102 compared to 114 (US average = 100).
What is the rent difference between Minneapolis and Cape Coral?
Median rent in Minneapolis is $1,329/month and in Cape Coral it's $1,751/month — a difference of $422/month.
Which city has higher income, Minneapolis or Cape Coral?
Median household income is $80,269 in Minneapolis and $76,062 in Cape Coral. Median household income is $4,207/year higher in Minneapolis.
How do taxes compare between Minnesota and Florida?
Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax. Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax.
Should I move to Minneapolis or Cape Coral?
It depends on your priorities. Minneapolis has a cost index of 102 with median rent of $1,329/mo, while Cape Coral has a cost index of 114 with rent of $1,751/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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