Cost of Living: Minneapolis, MN vs Reno, NV (2026)

Minneapolis

Minnesota
102
VS

Reno

Nevada
122

Minneapolis is 16% cheaper than Reno.

$1,329/mo ↓ 9%
Median Rent
$1,453/mo ↑ 9%
$80,269/yr ↑ 2%
Median Income
$78,448/yr ↓ 2%
$345,600 ↓ 31%
Home Value
$498,600 ↑ 44%
$1,513/mo ↑ 2%
Owner Costs
$1,482/mo ↓ 2%
426,845
Population
268,959

Tax Comparison

9.85%
Income Tax
0%
6.875%
State Sales Tax
6.85%
1.11%
Property Tax
0.53%

Affordability

19.9%
rent-to-income
Affordability
22.2%
rent-to-income

Detailed Comparison

When comparing Minneapolis, MN and Reno, NV, the overall cost of living indices are 102 and 122 respectively (national median = 100). Rent is $124/month cheaper in Minneapolis, saving renters about $1,488/year.

Median household income is $1,821/year higher in Minneapolis. Home values also differ significantly — the median in Minneapolis is $345,600 compared to $498,600 in Reno.

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

Frequently Asked Questions

Minneapolis vs Reno — common questions

Is Minneapolis or Reno cheaper to live in?
Based on our cost index, Minneapolis is cheaper to live in with an index of 102 compared to 122 (US average = 100).
What is the rent difference between Minneapolis and Reno?
Median rent in Minneapolis is $1,329/month and in Reno it's $1,453/month — a difference of $124/month.
Which city has higher income, Minneapolis or Reno?
Median household income is $80,269 in Minneapolis and $78,448 in Reno. Median household income is $1,821/year higher in Minneapolis.
How do taxes compare between Minnesota and Nevada?
Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax. Nevada has 0% income tax, 6.85% sales tax, and 0.53% property tax.
Should I move to Minneapolis or Reno?
It depends on your priorities. Minneapolis has a cost index of 102 with median rent of $1,329/mo, while Reno has a cost index of 122 with rent of $1,453/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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