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

Minneapolis

Minnesota
102
VS

Newark

New Jersey
100

Minneapolis and Newark have a similar cost of living.

$1,329/mo ≈ Same
Median Rent
$1,330/mo ≈ Same
$80,269/yr ↑ 66%
Median Income
$48,416/yr ↓ 40%
$345,600 ↑ 2%
Home Value
$337,800 ↓ 2%
$1,513/mo ↑ 7%
Owner Costs
$1,419/mo ↓ 6%
426,845
Population
307,188

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
33.0%
rent-to-income

Detailed Comparison

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

Median household income is $31,853/year higher in Minneapolis. Home values also differ significantly — the median in Minneapolis is $345,600 compared to $337,800 in Newark.

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

Frequently Asked Questions

Minneapolis vs Newark — common questions

Is Minneapolis or Newark cheaper to live in?
Based on our cost index, Newark is cheaper to live in with an index of 100 compared to 102 (US average = 100).
What is the rent difference between Minneapolis and Newark?
Median rent in Minneapolis is $1,329/month and in Newark it's $1,330/month — a difference of $1/month.
Which city has higher income, Minneapolis or Newark?
Median household income is $80,269 in Minneapolis and $48,416 in Newark. Median household income is $31,853/year higher in Minneapolis.
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 Newark?
It depends on your priorities. Minneapolis has a cost index of 102 with median rent of $1,329/mo, while Newark has a cost index of 100 with rent of $1,330/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Minneapolis details → View Newark details →

More Comparisons

Other cost of living comparisons for Minneapolis and Newark

Minneapolis vs. Oakland Minneapolis vs. Tulsa Minneapolis vs. Miami Minneapolis vs. Bakersfield Minneapolis vs. Virginia Beach Minneapolis vs. Wichita Newark vs. St. Paul Newark vs. Pittsburgh Newark vs. Irvine Newark vs. Greensboro Newark vs. Cincinnati Newark vs. St. Louis