Cost of Living: New York, NY vs Minneapolis, MN (2026)

New York

New York
166
VS

Minneapolis

Minnesota
102

New York is 63% more expensive than Minneapolis.

$1,779/mo ↑ 34%
Median Rent
$1,329/mo ↓ 25%
$79,713/yr ≈ Same
Median Income
$80,269/yr ≈ Same
$751,700 ↑ 118%
Home Value
$345,600 ↓ 54%
$1,837/mo ↑ 21%
Owner Costs
$1,513/mo ↓ 18%
8,516,202
Population
426,845

Tax Comparison

10.9%
Income Tax
9.85%
4.0%
State Sales Tax
6.875%
1.62%
Property Tax
1.11%

Affordability

26.8%
rent-to-income
Affordability
19.9%
rent-to-income

Detailed Comparison

When comparing New York, NY and Minneapolis, MN, the overall cost of living indices are 166 and 102 respectively (national median = 100). Rent is $450/month cheaper in Minneapolis, saving renters about $5,400/year.

Median household income is $556/year higher in Minneapolis. Home values also differ significantly — the median in New York is $751,700 compared to $345,600 in Minneapolis.

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

Frequently Asked Questions

New York vs Minneapolis — common questions

Is New York or Minneapolis cheaper to live in?
Based on our cost index, Minneapolis is cheaper to live in with an index of 102 compared to 166 (US average = 100).
What is the rent difference between New York and Minneapolis?
Median rent in New York is $1,779/month and in Minneapolis it's $1,329/month — a difference of $450/month.
Which city has higher income, New York or Minneapolis?
Median household income is $79,713 in New York and $80,269 in Minneapolis. Median household income is $556/year higher in Minneapolis.
How do taxes compare between New York and Minnesota?
New York has 10.9% income tax, 4.0% sales tax, and 1.62% property tax. Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax.
Should I move to New York or Minneapolis?
It depends on your priorities. New York has a cost index of 166 with median rent of $1,779/mo, while Minneapolis has a cost index of 102 with rent of $1,329/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View New York details → View Minneapolis details →

More Comparisons

Other cost of living comparisons for New York and Minneapolis

New York vs. Allen New York vs. Los Angeles New York vs. Tuscaloosa New York vs. Chicago New York vs. Tyler New York vs. Houston Minneapolis vs. Oakland Minneapolis vs. Tulsa Minneapolis vs. Miami Minneapolis vs. Bakersfield Minneapolis vs. Virginia Beach Minneapolis vs. Wichita