Cost of Living: Minneapolis, MN vs St. Petersburg, FL (2026)

Minneapolis

Minnesota
102
VS

St. Petersburg

Florida
106

Minneapolis is 4% cheaper than St. Petersburg.

$1,329/mo ↓ 14%
Median Rent
$1,542/mo ↑ 16%
$80,269/yr ↑ 10%
Median Income
$73,118/yr ↓ 9%
$345,600 ↑ 4%
Home Value
$331,500 ↓ 4%
$1,513/mo ↑ 5%
Owner Costs
$1,435/mo ↓ 5%
426,845
Population
260,646

Tax Comparison

9.85%
Income Tax
0%
6.875%
State Sales Tax
6.0%
1.11%
Property Tax
0.86%

Affordability

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

Detailed Comparison

When comparing Minneapolis, MN and St. Petersburg, FL, the overall cost of living indices are 102 and 106 respectively (national median = 100). Rent is $213/month cheaper in Minneapolis, saving renters about $2,556/year.

Median household income is $7,151/year higher in Minneapolis. Home values also differ significantly — the median in Minneapolis is $345,600 compared to $331,500 in St. Petersburg.

Florida has no state income tax, giving St. Petersburg residents a significant tax advantage over Minnesota's 9.85% rate.

Frequently Asked Questions

Minneapolis vs St. Petersburg — common questions

Is Minneapolis or St. Petersburg cheaper to live in?
Based on our cost index, Minneapolis is cheaper to live in with an index of 102 compared to 106 (US average = 100).
What is the rent difference between Minneapolis and St. Petersburg?
Median rent in Minneapolis is $1,329/month and in St. Petersburg it's $1,542/month — a difference of $213/month.
Which city has higher income, Minneapolis or St. Petersburg?
Median household income is $80,269 in Minneapolis and $73,118 in St. Petersburg. Median household income is $7,151/year higher in Minneapolis.
How do taxes compare between Minnesota and Florida?
Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax. Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax.
Should I move to Minneapolis or St. Petersburg?
It depends on your priorities. Minneapolis has a cost index of 102 with median rent of $1,329/mo, while St. Petersburg has a cost index of 106 with rent of $1,542/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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