Cost of Living: Minneapolis, MN vs Jersey City, NJ (2026)

Minneapolis

Minnesota
102
VS

Jersey City

New Jersey
148

Minneapolis is 31% cheaper than Jersey City.

$1,329/mo ↓ 30%
Median Rent
$1,902/mo ↑ 43%
$80,269/yr ↓ 15%
Median Income
$94,813/yr ↑ 18%
$345,600 ↓ 35%
Home Value
$534,500 ↑ 55%
$1,513/mo ↓ 25%
Owner Costs
$2,006/mo ↑ 33%
426,845
Population
289,691

Tax Comparison

9.85%
Income Tax
10.75%
6.875%
State Sales Tax
6.625%
1.11%
Property Tax
2.23%

Affordability

19.9%
rent-to-income
Affordability
24.1%
rent-to-income

Detailed Comparison

When comparing Minneapolis, MN and Jersey City, NJ, the overall cost of living indices are 102 and 148 respectively (national median = 100). Rent is $573/month cheaper in Minneapolis, saving renters about $6,876/year.

Median household income is $14,544/year higher in Jersey City. Home values also differ significantly — the median in Minneapolis is $345,600 compared to $534,500 in Jersey City.

Minnesota has a lower income tax rate, making Minneapolis slightly more tax-friendly.

Frequently Asked Questions

Minneapolis vs Jersey City — common questions

Is Minneapolis or Jersey City cheaper to live in?
Based on our cost index, Minneapolis is cheaper to live in with an index of 102 compared to 148 (US average = 100).
What is the rent difference between Minneapolis and Jersey City?
Median rent in Minneapolis is $1,329/month and in Jersey City it's $1,902/month — a difference of $573/month.
Which city has higher income, Minneapolis or Jersey City?
Median household income is $80,269 in Minneapolis and $94,813 in Jersey City. Median household income is $14,544/year higher in Jersey City.
How do taxes compare between Minnesota and New Jersey?
Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax. New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax.
Should I move to Minneapolis or Jersey City?
It depends on your priorities. Minneapolis has a cost index of 102 with median rent of $1,329/mo, while Jersey City has a cost index of 148 with rent of $1,902/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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