Cost of Living: Minneapolis, MN vs Providence, RI (2026)

Minneapolis

Minnesota
102
VS

Providence

Rhode Island
99

Minneapolis is 3% more expensive than Providence.

$1,329/mo ≈ Same
Median Rent
$1,333/mo ≈ Same
$80,269/yr ↑ 20%
Median Income
$66,772/yr ↓ 17%
$345,600 ↑ 7%
Home Value
$322,800 ↓ 7%
$1,513/mo ↑ 3%
Owner Costs
$1,467/mo ↓ 3%
426,845
Population
190,214

Tax Comparison

9.85%
Income Tax
5.99%
6.875%
State Sales Tax
7.0%
1.11%
Property Tax
1.53%

Affordability

19.9%
rent-to-income
Affordability
24.0%
rent-to-income

Detailed Comparison

When comparing Minneapolis, MN and Providence, RI, the overall cost of living indices are 102 and 99 respectively (national median = 100). Rent is comparable in both cities, with less than $50/month separating them.

Median household income is $13,497/year higher in Minneapolis. Home values also differ significantly — the median in Minneapolis is $345,600 compared to $322,800 in Providence.

Rhode Island has a lower income tax rate, making Providence slightly more tax-friendly.

Frequently Asked Questions

Minneapolis vs Providence — common questions

Is Minneapolis or Providence cheaper to live in?
Based on our cost index, Providence is cheaper to live in with an index of 99 compared to 102 (US average = 100).
What is the rent difference between Minneapolis and Providence?
Median rent in Minneapolis is $1,329/month and in Providence it's $1,333/month — a difference of $4/month.
Which city has higher income, Minneapolis or Providence?
Median household income is $80,269 in Minneapolis and $66,772 in Providence. Median household income is $13,497/year higher in Minneapolis.
How do taxes compare between Minnesota and Rhode Island?
Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax. Rhode Island has 5.99% income tax, 7.0% sales tax, and 1.53% property tax.
Should I move to Minneapolis or Providence?
It depends on your priorities. Minneapolis has a cost index of 102 with median rent of $1,329/mo, while Providence has a cost index of 99 with rent of $1,333/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Minneapolis details → View Providence details →

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