Is Raleigh, NC cheaper than Minneapolis, MN?

Based on cost of living data, Raleigh, NC is 10.2% cheaper than Minneapolis, MN. This translates to saving $764 per month.

What salary do I need in Raleigh, NC to live like I do in Minneapolis, MN?

If you earn $150,000 in Minneapolis, MN, you'd need approximately $140,833.333 in Raleigh, NC to maintain the same standard of living.

How does housing cost compare between Minneapolis, MN and Raleigh, NC?

Housing in Raleigh, NC is 12.0% cheaper than in Minneapolis, MN. For a two-bedroom apartment, rent is $1,800/month in Raleigh, NC compared to $1,700/month in Minneapolis, MN.

How much can I save per month by moving from Minneapolis, MN to Raleigh, NC?

Moving from Minneapolis, MN to Raleigh, NC could save you approximately $764 per month, or $9167 per year, based on a $150,000 salary.

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Minneapolis, MN

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Raleigh, NC

Cost of Living Comparison 2026

Current salary in Minneapolis, MN

Numbers update automatically as you type

You'd save $764/month moving to Raleigh, NC

$150.0K in your current city equals $140.8K in Raleigh, NC

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

Overall Cost

↓ 10.2%

Less expensive

Monthly Impact

$764

Savings

Annual Impact

$9.2K

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

Raleigh, NC

Population:474K

Cost Index:90

Median Home:$512K

Minneapolis, MN

The North Star State

430K

Population

State Tax

Yes

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

Raleigh, NC

The Tar Heel State

474K

Population

State Tax

Yes

Climate

Humid subtropical

Notable Facts

•Research Triangle
•State capital
•Major university town

Major Industries

TechnologyResearchEducationGovernment

Cost Breakdown by Category

Annual spending: Minneapolis, MN vs Raleigh, NC

Category	Minneapolis, MN	Raleigh, NC	Difference	Change
🏠Housing	$2,807/mo	$2,469/mo	↓ $338less	12.0%
🏥Healthcare	$756/mo	$601/mo	↓ $155less	20.5%
🚗Transportation	$1,380/mo	$1,284/mo	↓ $95.62less	6.9%
🛒Groceries	$1,029/mo	$959/mo	↓ $69.95less	6.8%
📦Other	$1,774/mo	$1,707/mo	↓ $66.96less	3.8%
⚡All Utilities	$508/mo	$546/mo	↑ $38.25more	7.5%

🏠Housing

↓ 12.0%

Minneapolis, MN

$2,807

Raleigh, NC

$2,469

Difference

$338

less

🏥Healthcare

↓ 20.5%

Minneapolis, MN

$756

Raleigh, NC

$601

Difference

$155

less

🚗Transportation

↓ 6.9%

Minneapolis, MN

$1,380

Raleigh, NC

$1,284

Difference

$95.62

less

🛒Groceries

↓ 6.8%

Minneapolis, MN

$1,029

Raleigh, NC

$959

Difference

$69.95

less

📦Other

↓ 3.8%

Minneapolis, MN

$1,774

Raleigh, NC

$1,707

Difference

$66.96

less

⚡All Utilities

↑ 7.5%

Minneapolis, MN

$508

Raleigh, NC

$546

Difference

$38.25

🏠Rent Comparison

Studio

From$1,240

To$1,570

↑ $330

1 Bed

From$1,400

To$1,640

↑ $240

2 Bed

From$1,700

To$1,800

↑ $100

3 Bed

From$2,250

To$2,255

↑ $5.00

Minneapolis, MNZIP-level data

1BR range: $1,250–$2,100/mo

Raleigh, NCZIP-level data

1BR range: $1,400–$1,880/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

$7,567

Monthly in Raleigh, NC

$687

Difference

Home Values

Minneapolis

Raleigh

$308K

Median Value

$512K

↑ +1%

YoY Change

↓ -0.5%

↑ +8.2%

5-Year Change

↑ +38.2%

$152K - $469K

Price Range

$314K - $992K

Homes in Raleigh are 66% more expensive than Minneapolis

Calculate payment - Minneapolis Calculate payment - Raleigh

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

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $3.3K

Per year

Monthly Difference

$276

More take-home

Effective Rate Diff

2.2%

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

Raleigh, NC

Federal Income Tax

Effective: 18.9%

$25.5K

North Carolina State Tax

Effective: 4.8%

$7.1K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 29.4%

$44.1K

Take-Home Pay

$8,822/month

$105.9K

Additional Tax Information

Minneapolis, MN Tax Rates

Sales Tax:8.0%

Property Tax:1.1%

Raleigh, NC Tax Rates

Sales Tax:7.1%

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.