Cost of Living: Minneapolis, MN vs West Palm Beach, FL (2026)

Minneapolis

Minnesota
102
VS

West Palm Beach

Florida
119

Minneapolis is 14% cheaper than West Palm Beach.

$1,329/mo ↓ 22%
Median Rent
$1,709/mo ↑ 29%
$80,269/yr ↑ 16%
Median Income
$69,261/yr ↓ 14%
$345,600 ↓ 7%
Home Value
$369,800 ↑ 7%
$1,513/mo ↓ 9%
Owner Costs
$1,667/mo ↑ 10%
426,845
Population
119,508

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
29.6%
rent-to-income

Detailed Comparison

When comparing Minneapolis, MN and West Palm Beach, FL, the overall cost of living indices are 102 and 119 respectively (national median = 100). Rent is $380/month cheaper in Minneapolis, saving renters about $4,560/year.

Median household income is $11,008/year higher in Minneapolis. Home values also differ significantly — the median in Minneapolis is $345,600 compared to $369,800 in West Palm Beach.

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

Frequently Asked Questions

Minneapolis vs West Palm Beach — common questions

Is Minneapolis or West Palm Beach cheaper to live in?
Based on our cost index, Minneapolis is cheaper to live in with an index of 102 compared to 119 (US average = 100).
What is the rent difference between Minneapolis and West Palm Beach?
Median rent in Minneapolis is $1,329/month and in West Palm Beach it's $1,709/month — a difference of $380/month.
Which city has higher income, Minneapolis or West Palm Beach?
Median household income is $80,269 in Minneapolis and $69,261 in West Palm Beach. Median household income is $11,008/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 West Palm Beach?
It depends on your priorities. Minneapolis has a cost index of 102 with median rent of $1,329/mo, while West Palm Beach has a cost index of 119 with rent of $1,709/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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