Cost of Living: Minneapolis, MN vs Richmond, CA (2026)

Minneapolis

Minnesota
102
VS

Richmond

California
161

Minneapolis is 37% cheaper than Richmond.

$1,329/mo ↓ 30%
Median Rent
$1,895/mo ↑ 43%
$80,269/yr ↓ 11%
Median Income
$90,038/yr ↑ 12%
$345,600 ↓ 47%
Home Value
$650,100 ↑ 88%
$1,513/mo ↓ 25%
Owner Costs
$2,015/mo ↑ 33%
426,845
Population
115,396

Tax Comparison

9.85%
Income Tax
13.3%
6.875%
State Sales Tax
7.25%
1.11%
Property Tax
0.71%

Affordability

19.9%
rent-to-income
Affordability
25.3%
rent-to-income

Detailed Comparison

When comparing Minneapolis, MN and Richmond, CA, the overall cost of living indices are 102 and 161 respectively (national median = 100). Rent is $566/month cheaper in Minneapolis, saving renters about $6,792/year.

Median household income is $9,769/year higher in Richmond. Home values also differ significantly — the median in Minneapolis is $345,600 compared to $650,100 in Richmond.

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

Frequently Asked Questions

Minneapolis vs Richmond — common questions

Is Minneapolis or Richmond cheaper to live in?
Based on our cost index, Minneapolis is cheaper to live in with an index of 102 compared to 161 (US average = 100).
What is the rent difference between Minneapolis and Richmond?
Median rent in Minneapolis is $1,329/month and in Richmond it's $1,895/month — a difference of $566/month.
Which city has higher income, Minneapolis or Richmond?
Median household income is $80,269 in Minneapolis and $90,038 in Richmond. Median household income is $9,769/year higher in Richmond.
How do taxes compare between Minnesota and California?
Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax. California has 13.3% income tax, 7.25% sales tax, and 0.71% property tax.
Should I move to Minneapolis or Richmond?
It depends on your priorities. Minneapolis has a cost index of 102 with median rent of $1,329/mo, while Richmond has a cost index of 161 with rent of $1,895/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Minneapolis details → View Richmond details →

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