Is Minneapolis, MN cheaper than Austin, TX?

Based on cost of living data, Minneapolis, MN is 4.9% more expensive than Austin, TX. This translates to spending an extra $364 per month.

What salary do I need in Minneapolis, MN to live like I do in Austin, TX?

If you earn $150,000 in Austin, TX, you'd need approximately $154,368.932 in Minneapolis, MN to maintain the same standard of living.

How does housing cost compare between Austin, TX and Minneapolis, MN?

Housing in Minneapolis, MN is 2.7% cheaper than in Austin, TX. For a two-bedroom apartment, rent is $1,700/month in Minneapolis, MN compared to $1,995/month in Austin, TX.

How much can I save per month by moving from Austin, TX to Minneapolis, MN?

Living in Minneapolis, MN costs approximately $364 more per month than Austin, TX, or $4369 more per year, based on a $150,000 salary.

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Austin, TX

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Minneapolis, MN

Cost of Living Comparison 2026

Current salary in Austin, TX

Numbers update automatically as you type

You'd spend $364/month more in Minneapolis, MN

$150.0K in your current city equals $154.4K in Minneapolis, MN

Rent data from HUD ZIP-level estimates · COL index from Austin-Round Rock-Georgetown, TX area

Overall Cost

↑ 4.9%

More expensive

Monthly Impact

$364

Extra cost

Annual Impact

$4.4K

Per year

Based on monthly living costs (rent, groceries, utilities, transport, healthcare). Home purchase prices shown separately below.

Austin, TX

Population:979K

Cost Index:100

Median Home:$558K

Minneapolis, MN

Population:430K

Cost Index:105

Median Home:$308K

Austin, TX

The Lone Star State

979K

Population

State Tax

No Income Tax

Climate

Humid subtropical

Notable Facts

•Live music capital
•Major tech hub
•SXSW festival city

Major Industries

TechnologyMusic IndustryEducationGovernment

Minneapolis, MN

The North Star State

430K

Population

State Tax

Yes

Located in Minnesota, this city has a population of 430K residents.

Cost Breakdown by Category

Annual spending: Austin, TX vs Minneapolis, MN

Category	Austin, TX	Minneapolis, MN	Difference	Change
🏥Healthcare	$589/mo	$756/mo	↑ $167more	28.4%
🚗Transportation	$1,284/mo	$1,380/mo	↑ $95.62more	7.4%
🏠Housing	$2,885/mo	$2,807/mo	↓ $77.96less	2.7%
🛒Groceries	$959/mo	$1,029/mo	↑ $69.95more	7.3%
📦Other	$1,741/mo	$1,774/mo	↑ $33.48more	1.9%
⚡All Utilities	$541/mo	$508/mo	↓ $32.79less	6.1%

🏥Healthcare

↑ 28.4%

Austin, TX

$589

Minneapolis, MN

$756

Difference

$167

🚗Transportation

↑ 7.4%

Austin, TX

$1,284

Minneapolis, MN

$1,380

Difference

$95.62

🏠Housing

↓ 2.7%

Austin, TX

$2,885

Minneapolis, MN

$2,807

Difference

$77.96

less

🛒Groceries

↑ 7.3%

Austin, TX

$959

Minneapolis, MN

$1,029

Difference

$69.95

📦Other

↑ 1.9%

Austin, TX

$1,741

Minneapolis, MN

$1,774

Difference

$33.48

⚡All Utilities

↓ 6.1%

Austin, TX

$541

Minneapolis, MN

$508

Difference

$32.79

less

🏠Rent Comparison

Studio

From$1,585

To$1,240

↓ $345

1 Bed

From$1,685

To$1,400

↓ $285

2 Bed

From$1,995

To$1,700

↓ $295

3 Bed

From$2,525

To$2,250

↓ $275

Austin, TXZIP-level data

1BR range: $1,490–$2,350/mo

Minneapolis, MNZIP-level data

1BR range: $1,250–$2,100/mo

💡 Note: Rent prices are based on HUD Fair Market Rent data and represent median costs. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,998

Monthly in Austin, TX

$8,254

Monthly in Minneapolis, MN

$256

Difference

Home Values

Austin

Minneapolis

$558K

Median Value

$308K

↓ -5%

YoY Change

↑ +1%

↑ +12.6%

5-Year Change

↑ +8.2%

$272K - $1.26M

Price Range

$152K - $469K

Homes in Minneapolis are 45% less expensive than Austin

Calculate payment - Austin Calculate payment - Minneapolis

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↓ $10.4K

More taxes

Monthly Difference

$869

Less take-home

Effective Rate Diff

7.0%

Rate difference

Austin, TX

Federal Income Tax

Effective: 18.9%

$25.5K

Texas State Tax

No state income tax

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 24.7%

$37.0K

Take-Home Pay

$9,416/month

$113.0K

Minneapolis, MN

Federal Income Tax

Effective: 18.9%

$25.5K

Minnesota State Tax

Effective: 7.0%

$10.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 31.6%

$47.4K

Take-Home Pay

$8,546/month

$102.6K

Additional Tax Information

Austin, TX Tax Rates

Sales Tax:8.2%

Property Tax:1.8%

Minneapolis, MN Tax Rates

Sales Tax:8.0%

Property Tax:1.1%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.