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

Minneapolis

Minnesota
102
VS

Lakeland

Florida
82

Minneapolis is 24% more expensive than Lakeland.

$1,329/mo ↑ 2%
Median Rent
$1,299/mo ↓ 2%
$80,269/yr ↑ 32%
Median Income
$60,947/yr ↓ 24%
$345,600 ↑ 51%
Home Value
$229,100 ↓ 34%
$1,513/mo ↑ 32%
Owner Costs
$1,149/mo ↓ 24%
426,845
Population
117,030

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
25.6%
rent-to-income

Detailed Comparison

When comparing Minneapolis, MN and Lakeland, FL, the overall cost of living indices are 102 and 82 respectively (national median = 100). Rent is comparable in both cities, with less than $50/month separating them.

Median household income is $19,322/year higher in Minneapolis. Home values also differ significantly — the median in Minneapolis is $345,600 compared to $229,100 in Lakeland.

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

Frequently Asked Questions

Minneapolis vs Lakeland — common questions

Is Minneapolis or Lakeland cheaper to live in?
Based on our cost index, Lakeland is cheaper to live in with an index of 82 compared to 102 (US average = 100).
What is the rent difference between Minneapolis and Lakeland?
Median rent in Minneapolis is $1,329/month and in Lakeland it's $1,299/month — a difference of $30/month.
Which city has higher income, Minneapolis or Lakeland?
Median household income is $80,269 in Minneapolis and $60,947 in Lakeland. Median household income is $19,322/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 Lakeland?
It depends on your priorities. Minneapolis has a cost index of 102 with median rent of $1,329/mo, while Lakeland has a cost index of 82 with rent of $1,299/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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More Comparisons

Other cost of living comparisons for Minneapolis and Lakeland

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