Is Phoenix, AZ cheaper than Minneapolis, MN?

Based on cost of living data, Phoenix, AZ is 4.4% cheaper than Minneapolis, MN. This translates to saving $333 per month.

What salary do I need in Phoenix, AZ to live like I do in Minneapolis, MN?

If you earn $150,000 in Minneapolis, MN, you'd need approximately $146,000 in Phoenix, AZ to maintain the same standard of living.

How does housing cost compare between Minneapolis, MN and Phoenix, AZ?

Housing in Phoenix, AZ is 0.6% cheaper than in Minneapolis, MN. For a two-bedroom apartment, rent is $1,750/month in Phoenix, AZ compared to $1,700/month in Minneapolis, MN.

How much can I save per month by moving from Minneapolis, MN to Phoenix, AZ?

Moving from Minneapolis, MN to Phoenix, AZ could save you approximately $333 per month, or $4000 per year, based on a $150,000 salary.

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Minneapolis, MN

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Phoenix, AZ

Cost of Living Comparison 2026

Current salary in Minneapolis, MN

Numbers update automatically as you type

You'd save $333/month moving to Phoenix, AZ

$150.0K in your current city equals $146.0K in Phoenix, AZ

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

Overall Cost

↓ 4.4%

Less expensive

Monthly Impact

$333

Savings

Annual Impact

$4.0K

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

Phoenix, AZ

Population:1608K

Cost Index:96

Median Home:$414K

Minneapolis, MN

The North Star State

430K

Population

State Tax

Yes

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

Phoenix, AZ

The Grand Canyon State

1.6M

Population

State Tax

Yes

Climate

Hot desert

Notable Facts

•Fastest growing major city
•Desert metropolis
•Spring training capital

Major Industries

TechnologyHealthcareTourismManufacturing

Cost Breakdown by Category

Annual spending: Minneapolis, MN vs Phoenix, AZ

Category	Minneapolis, MN	Phoenix, AZ	Difference	Change
🏥Healthcare	$756/mo	$589/mo	↓ $167less	22.1%
🚗Transportation	$1,380/mo	$1,489/mo	↑ $109more	7.9%
📦Other	$1,774/mo	$1,677/mo	↓ $97.09less	5.5%
🛒Groceries	$1,029/mo	$963/mo	↓ $65.95less	6.4%
⚡All Utilities	$508/mo	$561/mo	↑ $53.00more	10.4%
🏠Housing	$2,807/mo	$2,788/mo	↓ $18.19less	0.6%

🏥Healthcare

↓ 22.1%

Minneapolis, MN

$756

Phoenix, AZ

$589

Difference

$167

less

🚗Transportation

↑ 7.9%

Minneapolis, MN

$1,380

Phoenix, AZ

$1,489

Difference

$109

📦Other

↓ 5.5%

Minneapolis, MN

$1,774

Phoenix, AZ

$1,677

Difference

$97.09

less

🛒Groceries

↓ 6.4%

Minneapolis, MN

$1,029

Phoenix, AZ

$963

Difference

$65.95

less

⚡All Utilities

↑ 10.4%

Minneapolis, MN

$508

Phoenix, AZ

$561

Difference

$53.00

🏠Housing

↓ 0.6%

Minneapolis, MN

$2,807

Phoenix, AZ

$2,788

Difference

$18.19

less

🏠Rent Comparison

Studio

From$1,240

To$1,390

↑ $150

1 Bed

From$1,400

To$1,510

↑ $110

2 Bed

From$1,700

To$1,750

↑ $50.00

3 Bed

From$2,250

To$2,330

↑ $80.00

Minneapolis, MNZIP-level data

1BR range: $1,250–$2,100/mo

Phoenix, AZZIP-level data

1BR range: $1,300–$2,380/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

$8,068

Monthly in Phoenix, AZ

$186

Difference

Home Values

Minneapolis

Phoenix

$308K

Median Value

$414K

↑ +1%

YoY Change

↓ -3.1%

↑ +8.2%

5-Year Change

↑ +30.2%

$152K - $469K

Price Range

$274K - $957K

Homes in Phoenix are 34% more expensive than Minneapolis

Calculate payment - Minneapolis Calculate payment - Phoenix

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

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $5.2K

Per year

Monthly Difference

$433

More take-home

Effective Rate Diff

3.5%

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

Phoenix, AZ

Federal Income Tax

Effective: 18.9%

$25.5K

Arizona State Tax

Effective: 3.5%

$5.2K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 28.2%

$42.2K

Take-Home Pay

$8,979/month

$107.8K

Additional Tax Information

Minneapolis, MN Tax Rates

Sales Tax:8.0%

Property Tax:1.1%

Phoenix, AZ Tax Rates

Sales Tax:8.5%

Property Tax:0.6%

💡 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.