Cost of Living: Minneapolis, MN vs Lakewood, CO (2026)

Minneapolis

Minnesota
102
VS

Lakewood

Colorado
141

Minneapolis is 28% cheaper than Lakewood.

$1,329/mo ↓ 24%
Median Rent
$1,746/mo ↑ 31%
$80,269/yr ↓ 6%
Median Income
$85,789/yr ↑ 7%
$345,600 ↓ 37%
Home Value
$548,200 ↑ 59%
$1,513/mo ↓ 12%
Owner Costs
$1,729/mo ↑ 14%
426,845
Population
156,309

Tax Comparison

9.85%
Income Tax
4.4%
6.875%
State Sales Tax
2.9%
1.11%
Property Tax
0.51%

Affordability

19.9%
rent-to-income
Affordability
24.4%
rent-to-income

Detailed Comparison

When comparing Minneapolis, MN and Lakewood, CO, the overall cost of living indices are 102 and 141 respectively (national median = 100). Rent is $417/month cheaper in Minneapolis, saving renters about $5,004/year.

Median household income is $5,520/year higher in Lakewood. Home values also differ significantly — the median in Minneapolis is $345,600 compared to $548,200 in Lakewood.

Colorado has a lower income tax rate, making Lakewood slightly more tax-friendly.

Frequently Asked Questions

Minneapolis vs Lakewood — common questions

Is Minneapolis or Lakewood cheaper to live in?
Based on our cost index, Minneapolis is cheaper to live in with an index of 102 compared to 141 (US average = 100).
What is the rent difference between Minneapolis and Lakewood?
Median rent in Minneapolis is $1,329/month and in Lakewood it's $1,746/month — a difference of $417/month.
Which city has higher income, Minneapolis or Lakewood?
Median household income is $80,269 in Minneapolis and $85,789 in Lakewood. Median household income is $5,520/year higher in Lakewood.
How do taxes compare between Minnesota and Colorado?
Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax. Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax.
Should I move to Minneapolis or Lakewood?
It depends on your priorities. Minneapolis has a cost index of 102 with median rent of $1,329/mo, while Lakewood has a cost index of 141 with rent of $1,746/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Minneapolis details → View Lakewood details →

More Comparisons

Other cost of living comparisons for Minneapolis and Lakewood

Minneapolis vs. Oakland Minneapolis vs. Tulsa Minneapolis vs. Miami Minneapolis vs. Bakersfield Minneapolis vs. Virginia Beach Minneapolis vs. Wichita Lakewood vs. Macon Lakewood vs. Killeen Lakewood vs. Alexandria Lakewood vs. Kansas City Lakewood vs. Murfreesboro Lakewood vs. Springfield