Is Minneapolis, MN cheaper than Miami, FL?

Based on cost of living data, Minneapolis, MN is 12.2% cheaper than Miami, FL. This translates to saving $915 per month.

What salary do I need in Minneapolis, MN to live like I do in Miami, FL?

If you earn $150,000 in Miami, FL, you'd need approximately $139,024.39 in Minneapolis, MN to maintain the same standard of living.

How does housing cost compare between Miami, FL and Minneapolis, MN?

Housing in Minneapolis, MN is 23.9% cheaper than in Miami, FL. For a two-bedroom apartment, rent is $1,700/month in Minneapolis, MN compared to $2,660/month in Miami, FL.

How much can I save per month by moving from Miami, FL to Minneapolis, MN?

Moving from Miami, FL to Minneapolis, MN could save you approximately $915 per month, or $10976 per year, based on a $150,000 salary.

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Miami, FL

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Minneapolis, MN

Cost of Living Comparison 2026

Current salary in Miami, FL

Numbers update automatically as you type

You'd save $915/month moving to Minneapolis, MN

$150.0K in your current city equals $139.0K in Minneapolis, MN

Rent data from HUD ZIP-level estimates · COL index from Miami-Fort Lauderdale-Pompano Beach, FL area

Overall Cost

↓ 12.2%

Less expensive

Monthly Impact

$915

Savings

Annual Impact

$11.0K

Per year

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

Miami, FL

Population:442K

Cost Index:100

Median Home:$510K

Minneapolis, MN

Population:430K

Cost Index:88

Median Home:$308K

Miami, FL

The Sunshine State

442K

Population

State Tax

No Income Tax

Climate

Tropical

Notable Facts

•Gateway to Latin America
•Major cruise port
•International business hub

Major Industries

International TradeTourismFinanceReal Estate

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: Miami, FL vs Minneapolis, MN

Category	Miami, FL	Minneapolis, MN	Difference	Change
🏠Housing	$3,690/mo	$2,807/mo	↓ $884less	23.9%
📦Other	$2,093/mo	$1,774/mo	↓ $318less	15.2%
🏥Healthcare	$589/mo	$756/mo	↑ $167more	28.4%
🚗Transportation	$1,462/mo	$1,380/mo	↓ $81.96less	5.6%
🛒Groceries	$1,079/mo	$1,029/mo	↓ $49.96less	4.6%
⚡All Utilities	$519/mo	$508/mo	↓ $10.93less	2.1%

🏠Housing

↓ 23.9%

Miami, FL

$3,690

Minneapolis, MN

$2,807

Difference

$884

less

📦Other

↓ 15.2%

Miami, FL

$2,093

Minneapolis, MN

$1,774

Difference

$318

less

🏥Healthcare

↑ 28.4%

Miami, FL

$589

Minneapolis, MN

$756

Difference

$167

🚗Transportation

↓ 5.6%

Miami, FL

$1,462

Minneapolis, MN

$1,380

Difference

$81.96

less

🛒Groceries

↓ 4.6%

Miami, FL

$1,079

Minneapolis, MN

$1,029

Difference

$49.96

less

⚡All Utilities

↓ 2.1%

Miami, FL

$519

Minneapolis, MN

$508

Difference

$10.93

less

🏠Rent Comparison

Studio

From$1,995

To$1,240

↓ $755

1 Bed

From$2,180

To$1,400

↓ $780

2 Bed

From$2,660

To$1,700

↓ $960

3 Bed

From$3,415

To$2,250

↓ $1,165

Miami, FLZIP-level data

1BR range: $1,550–$2,990/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.

$9,431

Monthly in Miami, FL

$8,254

Monthly in Minneapolis, MN

$1,177

Difference

Home Values

Miami

Minneapolis

$510K

Median Value

$308K

↓ -3.6%

YoY Change

↑ +1%

↑ +49.4%

5-Year Change

↑ +8.2%

$278K - $1.53M

Price Range

$152K - $469K

Homes in Minneapolis are 40% less expensive than Miami

Calculate payment - Miami 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

Miami, FL

Federal Income Tax

Effective: 18.9%

$25.5K

Florida 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

Miami, FL Tax Rates

Sales Tax:7.2%

Property Tax:0.8%

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.