Cost of Living: Minneapolis, MN vs McKinney, TX (2026)

Minneapolis

Minnesota
102
VS

McKinney

Texas
138

Minneapolis is 26% cheaper than McKinney.

$1,329/mo ↓ 28%
Median Rent
$1,841/mo ↑ 39%
$80,269/yr ↓ 33%
Median Income
$120,273/yr ↑ 50%
$345,600 ↓ 21%
Home Value
$439,500 ↑ 27%
$1,513/mo ↓ 28%
Owner Costs
$2,101/mo ↑ 39%
426,845
Population
202,314

Tax Comparison

9.85%
Income Tax
0%
6.875%
State Sales Tax
6.25%
1.11%
Property Tax
1.6%

Affordability

19.9%
rent-to-income
Affordability
18.4%
rent-to-income

Detailed Comparison

When comparing Minneapolis, MN and McKinney, TX, the overall cost of living indices are 102 and 138 respectively (national median = 100). Rent is $512/month cheaper in Minneapolis, saving renters about $6,144/year.

Median household income is $40,004/year higher in McKinney. Home values also differ significantly — the median in Minneapolis is $345,600 compared to $439,500 in McKinney.

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

Frequently Asked Questions

Minneapolis vs McKinney — common questions

Is Minneapolis or McKinney cheaper to live in?
Based on our cost index, Minneapolis is cheaper to live in with an index of 102 compared to 138 (US average = 100).
What is the rent difference between Minneapolis and McKinney?
Median rent in Minneapolis is $1,329/month and in McKinney it's $1,841/month — a difference of $512/month.
Which city has higher income, Minneapolis or McKinney?
Median household income is $80,269 in Minneapolis and $120,273 in McKinney. Median household income is $40,004/year higher in McKinney.
How do taxes compare between Minnesota and Texas?
Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax. Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax.
Should I move to Minneapolis or McKinney?
It depends on your priorities. Minneapolis has a cost index of 102 with median rent of $1,329/mo, while McKinney has a cost index of 138 with rent of $1,841/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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More Comparisons

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