Is Miami, FL cheaper than Minneapolis, MN?

Based on cost of living data, Miami, FL is 13.9% more expensive than Minneapolis, MN. This translates to spending an extra $1042 per month.

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

If you earn $150,000 in Minneapolis, MN, you'd need approximately $162,500 in Miami, FL to maintain the same standard of living.

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

Housing in Miami, FL is 31.5% more expensive than in Minneapolis, MN. For a two-bedroom apartment, rent is $2,660/month in Miami, FL compared to $1,700/month in Minneapolis, MN.

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

Living in Miami, FL costs approximately $1042 more per month than Minneapolis, MN, or $12500 more per year, based on a $150,000 salary.

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Minneapolis, MN

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Miami, FL

Cost of Living Comparison 2026

Current salary in Minneapolis, MN

Numbers update automatically as you type

You'd spend $1.0K/month more in Miami, FL

$150.0K in your current city equals $162.5K in Miami, FL

Rent data from HUD ZIP-level estimates · COL index from Minneapolis-St. Paul-Bloomington, MN-WI area

Overall Cost

↑ 13.9%

More expensive

Monthly Impact

$1,042

Extra cost

Annual Impact

$12.5K

Per year

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

Minneapolis, MN

Population:430K

Cost Index:100

Median Home:$308K

Miami, FL

Population:442K

Cost Index:114

Median Home:$510K

Minneapolis, MN

The North Star State

430K

Population

State Tax

Yes

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

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

Cost Breakdown by Category

Annual spending: Minneapolis, MN vs Miami, FL

Category	Minneapolis, MN	Miami, FL	Difference	Change
🏠Housing	$2,807/mo	$3,690/mo	↑ $884more	31.5%
📦Other	$1,774/mo	$2,093/mo	↑ $318more	17.9%
🏥Healthcare	$756/mo	$589/mo	↓ $167less	22.1%
🚗Transportation	$1,380/mo	$1,462/mo	↑ $81.96more	5.9%
🛒Groceries	$1,029/mo	$1,079/mo	↑ $49.96more	4.9%
⚡All Utilities	$508/mo	$519/mo	↑ $10.93more	2.2%

🏠Housing

↑ 31.5%

Minneapolis, MN

$2,807

Miami, FL

$3,690

Difference

$884

📦Other

↑ 17.9%

Minneapolis, MN

$1,774

Miami, FL

$2,093

Difference

$318

🏥Healthcare

↓ 22.1%

Minneapolis, MN

$756

Miami, FL

$589

Difference

$167

less

🚗Transportation

↑ 5.9%

Minneapolis, MN

$1,380

Miami, FL

$1,462

Difference

$81.96

🛒Groceries

↑ 4.9%

Minneapolis, MN

$1,029

Miami, FL

$1,079

Difference

$49.96

⚡All Utilities

↑ 2.2%

Minneapolis, MN

$508

Miami, FL

$519

Difference

$10.93

🏠Rent Comparison

Studio

From$1,240

To$1,995

↑ $755

1 Bed

From$1,400

To$2,180

↑ $780

2 Bed

From$1,700

To$2,660

↑ $960

3 Bed

From$2,250

To$3,415

↑ $1,165

Minneapolis, MNZIP-level data

1BR range: $1,250–$2,100/mo

Miami, FLZIP-level data

1BR range: $1,550–$2,990/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.

$8,254

Monthly in Minneapolis, MN

$9,431

Monthly in Miami, FL

$1,177

Difference

Home Values

Minneapolis

Miami

$308K

Median Value

$510K

↑ +1%

YoY Change

↓ -3.6%

↑ +8.2%

5-Year Change

↑ +49.4%

$152K - $469K

Price Range

$278K - $1.53M

Homes in Miami are 66% more expensive than Minneapolis

Calculate payment - Minneapolis Calculate payment - Miami

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

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $10.4K

Per year

Monthly Difference

$869

More take-home

Effective Rate Diff

7.0%

Rate difference

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

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

Additional Tax Information

Minneapolis, MN Tax Rates

Sales Tax:8.0%

Property Tax:1.1%

Miami, FL Tax Rates

Sales Tax:7.2%

Property Tax:0.8%

💡 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.