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

Minneapolis

Minnesota
102
VS

Plano

Texas
132

Minneapolis is 23% cheaper than Plano.

$1,329/mo ↓ 26%
Median Rent
$1,792/mo ↑ 35%
$80,269/yr ↓ 26%
Median Income
$108,649/yr ↑ 35%
$345,600 ↓ 22%
Home Value
$440,600 ↑ 27%
$1,513/mo ↓ 17%
Owner Costs
$1,829/mo ↑ 21%
426,845
Population
287,339

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
19.8%
rent-to-income

Detailed Comparison

When comparing Minneapolis, MN and Plano, TX, the overall cost of living indices are 102 and 132 respectively (national median = 100). Rent is $463/month cheaper in Minneapolis, saving renters about $5,556/year.

Median household income is $28,380/year higher in Plano. Home values also differ significantly — the median in Minneapolis is $345,600 compared to $440,600 in Plano.

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

Frequently Asked Questions

Minneapolis vs Plano — common questions

Is Minneapolis or Plano cheaper to live in?
Based on our cost index, Minneapolis is cheaper to live in with an index of 102 compared to 132 (US average = 100).
What is the rent difference between Minneapolis and Plano?
Median rent in Minneapolis is $1,329/month and in Plano it's $1,792/month — a difference of $463/month.
Which city has higher income, Minneapolis or Plano?
Median household income is $80,269 in Minneapolis and $108,649 in Plano. Median household income is $28,380/year higher in Plano.
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 Plano?
It depends on your priorities. Minneapolis has a cost index of 102 with median rent of $1,329/mo, while Plano has a cost index of 132 with rent of $1,792/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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