Is Minneapolis, MN cheaper than Phoenix, AZ?

Based on cost of living data, Minneapolis, MN is 4.7% more expensive than Phoenix, AZ. This translates to spending an extra $349 per month.

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

If you earn $150,000 in Phoenix, AZ, you'd need approximately $154,186.047 in Minneapolis, MN to maintain the same standard of living.

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

Housing in Minneapolis, MN is 0.7% more expensive than in Phoenix, AZ. For a two-bedroom apartment, rent is $1,700/month in Minneapolis, MN compared to $1,750/month in Phoenix, AZ.

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

Living in Minneapolis, MN costs approximately $349 more per month than Phoenix, AZ, or $4186 more per year, based on a $150,000 salary.

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Phoenix, AZ

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Minneapolis, MN

Cost of Living Comparison 2026

Current salary in Phoenix, AZ

Numbers update automatically as you type

You'd spend $349/month more in Minneapolis, MN

$150.0K in your current city equals $154.2K in Minneapolis, MN

Rent data from HUD ZIP-level estimates · COL index from Phoenix-Mesa-Chandler, AZ area

Overall Cost

↑ 4.7%

More expensive

Monthly Impact

$349

Extra cost

Annual Impact

$4.2K

Per year

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

Phoenix, AZ

Population:1608K

Cost Index:100

Median Home:$414K

Minneapolis, MN

Population:430K

Cost Index:105

Median Home:$308K

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

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: Phoenix, AZ vs Minneapolis, MN

Category	Phoenix, AZ	Minneapolis, MN	Difference	Change
🏥Healthcare	$589/mo	$756/mo	↑ $167more	28.4%
🚗Transportation	$1,489/mo	$1,380/mo	↓ $109less	7.3%
📦Other	$1,677/mo	$1,774/mo	↑ $97.09more	5.8%
🛒Groceries	$963/mo	$1,029/mo	↑ $65.95more	6.8%
⚡All Utilities	$561/mo	$508/mo	↓ $53.00less	9.4%
🏠Housing	$2,788/mo	$2,807/mo	↑ $18.19more	0.7%

🏥Healthcare

↑ 28.4%

Phoenix, AZ

$589

Minneapolis, MN

$756

Difference

$167

🚗Transportation

↓ 7.3%

Phoenix, AZ

$1,489

Minneapolis, MN

$1,380

Difference

$109

less

📦Other

↑ 5.8%

Phoenix, AZ

$1,677

Minneapolis, MN

$1,774

Difference

$97.09

🛒Groceries

↑ 6.8%

Phoenix, AZ

$963

Minneapolis, MN

$1,029

Difference

$65.95

⚡All Utilities

↓ 9.4%

Phoenix, AZ

$561

Minneapolis, MN

$508

Difference

$53.00

less

🏠Housing

↑ 0.7%

Phoenix, AZ

$2,788

Minneapolis, MN

$2,807

Difference

$18.19

🏠Rent Comparison

Studio

From$1,390

To$1,240

↓ $150

1 Bed

From$1,510

To$1,400

↓ $110

2 Bed

From$1,750

To$1,700

↓ $50.00

3 Bed

From$2,330

To$2,250

↓ $80.00

Phoenix, AZZIP-level data

1BR range: $1,300–$2,380/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.

$8,068

Monthly in Phoenix, AZ

$8,254

Monthly in Minneapolis, MN

$186

Difference

Home Values

Phoenix

Minneapolis

$414K

Median Value

$308K

↓ -3.1%

YoY Change

↑ +1%

↑ +30.2%

5-Year Change

↑ +8.2%

$274K - $957K

Price Range

$152K - $469K

Homes in Minneapolis are 26% less expensive than Phoenix

Calculate payment - Phoenix Calculate payment - Minneapolis

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

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↓ $5.2K

More taxes

Monthly Difference

$433

Less take-home

Effective Rate Diff

3.5%

Rate difference

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

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

Phoenix, AZ Tax Rates

Sales Tax:8.5%

Property Tax:0.6%

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.