Cost of Living in Minneapolis, Minnesota: Rent, Food & More
"Thrive in the Twin Cities on a Tight Budget!"
Table of Content
- Average Cost of Living in Minneapolis
- Cost of Living in Minneapolis, MN: Rent & Housing Costs
- Cost of Living in Minneapolis, MN: Rent by Neighborhood
- Where to Find the Best Affordable Apartments in Minneapolis, MN?
- Cost of Living in Minneapolis, MN: Utilities Cost
- Cost of Living in Minneapolis, MN: Food & Grocery Costs
- Cost of Living in Minneapolis, MN: Transportation Costs
- Cost of Living in Minneapolis, MN: Healthcare & Insurance Costs
- Cost of Living in Minneapolis, MN: Entertainment & Leisure Costs
- Cost of Living in Minneapolis: Miscellaneous Expenses
- Cost of Living in Minneapolis vs Other U.S. Cities
Moving to a new city always comes with one big question: how much will it cost to live there? For students heading to Minneapolis, the answer is reassuring. The cost of living in Minneapolis is about 7% lower than the U.S. average, with a cost of living index in Minneapolis of 93.2 (100 being the national benchmark).
On average, a single person spends around $4,500 per month on essentials like rent, groceries, transport, and utilities. Housing is where you’ll save the most, with rents 12–17% cheaper than the national average. In short, Minneapolis offers an affordable lifestyle without missing out on city perks like great food, cultural events, and green spaces. In this blog on the cost of living in Minneapolis Minnesota, discover clever hacks to get affordable housing and enjoy the Twin Cities’ charm without icing out your wallet!
Average Cost of Living in Minneapolis
The average cost of living in Minneapolis is around 6–7% lower than the national average, making it a relatively affordable choice for students compared to many United States cities. Rent is the biggest factor, but it’s about 12–17% cheaper than the national average, which eases student budgets. Utilities and transportation also cost less here, while groceries and healthcare can be slightly higher depending on personal lifestyle. Overall, students find Minneapolis to be a balanced and budget-friendly city without compromising on quality of life.
| Category | Minneapolis Cost (Est.) | Comparison to National Avg. |
|---|---|---|
| Rent (1-bed apartment) | ~$1,390–$1,490 | 12–17% lower than the national average |
| Groceries | ~$350–$400 | 2–3% higher than the national average |
| Utilities | ~$150–$170 | 3–4% lower than the national average |
| Healthcare | ~$300–$350 | 5–11% higher than the national average |
| Transportation | ~$100–$120 (monthly pass) | 7% lower than the national average |
| Goods & Services | ~$200–$250 | 4% lower than the national average |
Cost of Living in Minneapolis, MN: Rent & Housing Costs
When it comes to living expenses in Minneapolis, housing is often the biggest expense for students. The city is more affordable than many U.S. metros, with rent averaging 12–17% lower than the national average. Depending on whether you choose a private studio, a one-bedroom apartment, or shared housing, your monthly calculation of living expenses in Minneapolis for housing can vary a lot.
| Housing Type | Average Monthly Cost |
|---|---|
| Shared Apartment/Room | ~$700 – $900 |
| Studio Apartment | ~$1,100 – $1,300 |
| 1-Bedroom Apartment | ~$1,390 – $1,490 |
| 2-Bedroom Apartment | ~$1,800 – $2,000 |
Tip: For affordable living, look at shared apartments in Dinkytown or Prospect Park, where many students stay close to the University of Minnesota (UMN). To make the search easier, check amber for verified listings with flexible rent options and student-friendly amenities.
Cost of Living in Minneapolis, MN: Rent by Neighborhood
When looking at the cost of living in Minneapolis Minnesota, rent differs widely depending on the neighborhood. Some areas are affordable and quiet, while others come with higher price tags but more social perks. Here’s a breakdown of the cost of living in Minneapolis by each area:
1. CARAG: Average rent around $1,150/month. One of the cheapest spots in the city, ideal for students on a budget. Offers a laid-back residential feel.
2. Tangletown: About $1,160/month. Green, calm, and suburban in character. Good for those who prefer peace over nightlife.
3. Ventura Village: Roughly $1,175/month. Affordable, diverse, and community-driven. Great for students who want low rent near the city.
4. Stevens Square: Around $1,180/month. Central and budget-friendly, with easy access to downtown.
5. Seward / Windom Park: Mid-$1,200s. Balanced option with student-friendly amenities, transit access, and a mix of urban + residential vibes.
6. Loring Park – About $1,450/month. Known for its artsy, cultural atmosphere and proximity to downtown events.
7. Uptown: Around $1,690/month. Trendy and lively, packed with nightlife, cafes, and shops. Popular among younger crowds but pricier.
8.North Loop (Warehouse District): Around $2,070/month. Premium and modern, with loft-style apartments and a buzzing social scene. One of the most expensive student picks.
Where to Find the Best Affordable Apartments in Minneapolis, MN?
If you’re looking for budget-friendly housing, amber offers a wide range of affordable student apartments in Minneapolis, MN. From shared rooms to private studios, you can compare verified listings, check amenities, and choose housing near top universities like the University of Minnesota. With flexible booking options and all-inclusive rent, amber makes it easy to find the best affordable apartments without the hassle.
1. University Commons Minneapolis
2. Grandmarc Seven Corners, Minneapolis
3. Identity Dinkytown, Minneapolis
4. Yugo Minneapolis 412 Lofts, Minneapolis
5. Yugo Minneapolis Sydney Hall, Minneapolis
Cost of Living in Minneapolis, MN: Utilities Cost
When calculating living expenses in Minneapolis, utilities are another key part of a student’s budget. The cost of utilities is 3–4% lower than the national average for most basic bills, though winter heating can push costs up. On average, utilities for a standard apartment come to about $150–$170/month, with internet adding around $60–$70/month.
| Utility Type | Average Monthly Cost |
|---|---|
| Electricity, Heating, Cooling, Water, Trash | ~$150 – $170 |
| Internet (High-Speed, Unlimited) | ~$60 – $70 |
| Mobile Phone Plan | ~$40 – $50 |
Tip: Students can save on the average cost of living in Minneapolis by sharing apartments, where utility bills are split among roommates. Many amber student housing options also include utilities in rent, making monthly expenses more predictable.
Cost of Living in Minneapolis, MN: Food & Grocery Costs
Food plays a major role in the cost of living in Minneapolis, especially for students who juggle between cooking at home and eating out. The cost of groceries is 2–3% higher than the national average, and on average, a single person spends around $350–$400 per month on groceries.
| Item / Category | Average Price / Cost | Notes |
|---|---|---|
| Monthly Groceries (per person) | ~$350 – $400 | Includes essentials like bread, milk, rice, fruits & vegetables |
| Milk (1 liter) | ~$1.10 – $1.30 | Slightly cheaper than the U.S. average |
| Bread (500g loaf) | ~$2.80 – $3.00 | Local bakeries may charge higher |
| Rice (1 kg) | ~$4.00 – $5.00 | Varies by brand/store |
| Eggs (dozen) | ~$3.00 – $3.50 | Stable pricing |
| Chicken (1 kg) | ~$11 – $12 | Fresh cuts from local markets |
| Apples (1 kg) | ~$5.50 – $6.00 | Seasonal pricing |
| Bananas (1 kg) | ~$1.50 – $1.80 | Budget-friendly fruit |
| Tomatoes (1 kg) | ~$4.20 – $4.50 | Fresh produce at local stores |
| Meal at an Inexpensive Restaurant | ~$15 – $18 | Casual dining / student-friendly cafes |
| Mid-range Meal for Two | ~$70 – $80 | 3-course dining |
| Fast Food Combo (McDonald’s, etc.) | ~$10 – $12 | Cheapest option for quick meals |
| Cappuccino / Coffee | ~$4.00 – $5.00 | Local cafés are slightly pricier than chains |
Tip: Cooking at home can cut your food costs nearly in half. Many amber student accommodations include kitchens, making it easier to shop in bulk at stores like Aldi or Trader Joe’s and save on the overall cost of living in Minneapolis.
Cost of Living in Minneapolis, MN: Transportation Costs
Transportation is an important part of the cost of living in Minneapolis, but the city makes it easy for students to get around affordably. The Metro Transit system (buses and light rail) covers most areas, and students of UMN and UMTC can access special discounts through passes like the Student Go-To Pass.
| Transport Option | Average Cost | Notes |
|---|---|---|
| Single Bus/Light Rail Ride | $2.00 (off-peak), $2.50 (rush hour) | 2.5-hour validity with transfers |
| 7-Day Pass | ~$24 | Unlimited rides for a week |
| Monthly Student Go-To Pass | ~$85 | Unlimited rides for students (Metro Transit) |
| Standard Monthly Adult Pass | ~$120 | Unlimited rides for all adults |
| University of Minnesota Shuttles | Free | Connects East Bank, West Bank, and St. Paul campuses |
| Gasoline (per gallon) | ~$3.40 – $3.60 | Seasonal variation |
| Taxi Start (Normal Tariff) | ~$3.50 – $4.00 | Plus ~$1.80 per additional km |
| Uber/Lyft (within city center) | ~$12 – $18 per ride | Distance & surge pricing apply |
| Bike Share (Nice Ride Minnesota) | ~$6/day or $90/year | Popular, especially in summer/fall |
| Car Parking (Downtown) | ~$8 – $12/day; Monthly passes ~$120–$150 | Monthly passes available |
Student Discounts & Cards
1. Student Go-To Pass (Metro Transit): Unlimited rides on buses and trains for about $85/month.
2.U-Pass (University of Minnesota): Semester-long discounted transit pass for UMN students.
3. University Shuttle Services: Free UMN shuttles run frequently between East Bank, West Bank, and St. Paul campuses, saving both money and time.
Tip: Relying on the Student Go-To Pass or U-Pass along with free UMN campus shuttles can slash your transportation costs by more than half compared to owning a car. Combine this with biking in warmer months to make commuting almost cost-free.
Cost of Living in Minneapolis, MN: Healthcare & Insurance Costs
Healthcare is another factor in the cost of living in Minneapolis, and it can be expensive without insurance. On average, a student health insurance plan costs around $200–$300 per month, while comprehensive private plans may go higher. Basic doctor visits range from $100–$150 without insurance, and prescriptions typically cost $10–$30, depending on coverage.
Tip: International students should check university-sponsored health insurance plans, which are often cheaper and designed to meet visa requirements. Choosing accommodations near clinics and campus health centers can also help cut down on living expenses in Minneapolis.
Cost of Living in Minneapolis, MN: Entertainment & Leisure Costs
Entertainment and leisure are essential parts of student life, and they contribute to the overall cost of living in Minneapolis. From gyms and movie nights to concerts and dining out, the city offers both budget-friendly and premium options. Students usually spend $120–$200 per month, depending on lifestyle and choices.
| Activity / Expense | Average Cost | Notes |
|---|---|---|
| Movie Ticket | ~$12 – $15 | Standard cinema ticket |
| Fitness/Gym Membership | ~$40 – $60/month | Discounts are often available for students |
| Dining Out / Nightlife | ~$100 – $150/month | Depends on frequency and location |
| Coffee at Café | ~$4 – $5 | Local cafés are slightly higher than chains |
| Concert / Sports Event | ~$40 – $80 per ticket | Varies by event |
| Free Activities | $0 | Parks, lakes, UMN cultural events, city festivals |
Tip: Mix free options like Minneapolis parks and student events with occasional dining or concerts. Using your student ID often unlocks discounts at gyms, museums, and entertainment venues.
Cost of Living in Minneapolis: Miscellaneous Expenses
Beyond rent, food, and transport, there are everyday extras that also add to the cost of living in Minneapolis. These include clothing, personal care, and household items. While small individually, they can add up quickly if not budgeted for. On average, students should set aside $100–$200/month for these miscellaneous expenses.
| Expense Type | Average Cost | Notes |
|---|---|---|
| Clothing (Jeans, mid-range) | ~$45 – $55 | Branded stores cost more |
| Shoes (Mid-range Sneakers) | ~$80 – $100 | Depends on brand/style |
| Personal Care (Toiletries, grooming) | ~$40 – $60/month | Shampoo, soap, cosmetics, etc. |
| Household Items (Cleaning supplies, laundry) | ~$25 – $40/month | Shared apartments reduce costs |
| Cinema / Subscription (Netflix, Spotify, etc.) | ~$12 – $15 each | Entertainment add-ons |
| Fitness Class/Activity (Yoga, Dance, etc.) | ~$20 – $40/session | Optional leisure |
Tip: Buying clothes during seasonal sales and splitting household purchases with roommates can keep miscellaneous costs low. Many student housing options on amber also provide in-built amenities like gyms and laundry, reducing extra expenses.
Cost of Living in Minneapolis vs Other U.S. Cities
When evaluating the cost of living in Minneapolis, it’s helpful to see how it compares to other major U.S. cities. Minneapolis is about 7% cheaper than the national average, with rent and transportation being noticeably more affordable. While groceries and healthcare can be slightly higher, the city still offers a better balance of affordability and lifestyle compared to larger metros like New York or Los Angeles.
| City | Cost of Living Index | Avg. Monthly Rent (1-Bed) | Notes |
|---|---|---|---|
| Minneapolis | 93.2 | ~$1,390 – $1,490 | 7% cheaper than the U.S. average |
| New York City | 168.6 | ~$3,200 – $3,500 | Among the highest in the U.S. |
| Los Angeles | 146.6 | ~$2,500 – $2,700 | Expensive housing, high groceries |
| Chicago | 106.9 | ~$1,700 – $1,900 | Higher rent but similar lifestyle costs |
| Houston | 94.1 | ~$1,250 – $1,400 | Slightly cheaper, lower groceries |
| Boston | 150.0+ | ~$2,800 – $3,000 | Costly for housing and food |
Minneapolis offers a solid middle ground. The average cost of living in Minneapolis is less than in coastal hubs like New York, Boston, and LA, while providing better job opportunities and amenities than many cheaper Southern cities. For students, this means enjoying city life without draining your budget.
To sum up, the cost of living in Minneapolis is relatively student-friendly, sitting about 7% below the U.S. average. Most students spend around $2,200–$2,400 per month on essentials like rent, food, transport, and utilities, with housing being the biggest expense. Compared to pricier cities like New York, Boston, or Los Angeles, Minneapolis offers a comfortable balance of affordability and quality of life. For students, this means you can enjoy campus life, explore cultural events, and take advantage of free parks and student discounts without stretching your budget too thin. Think of it this way: plan wisely, take advantage of student perks, and find the right accommodation (amber can help with that!), and you’ll not just survive in Minneapolis, you’ll thrive.
Frequently Asked Questions
What salary is needed to live comfortably in Minneapolis?
A single person needs around $55,000–$60,000 per year before tax to live comfortably in Minneapolis, covering rent, utilities, food, and leisure. Students should budget about $2,200–$2,400/month.
Is Minneapolis expensive to live in?
Not really. The cost of living in Minneapolis is about 7% lower than the U.S. average, especially for housing and transport. It’s more affordable than cities like New York, Boston, or Los Angeles.
Is $50k a good salary in Minneapolis?
Yes, a $50,000 annual salary is generally enough for a modest but comfortable lifestyle in Minneapolis, especially since the city’s living costs are below the national average. However, lifestyle choices and housing preferences can affect how far that salary stretches.
Which is the best neighborhood to live in Minneapolis?
For students, Dinkytown and Prospect Park are popular thanks to their affordability and proximity to the University of Minnesota. For young professionals, Uptown offers vibrant nightlife, while North Loop is ideal for those seeking modern apartments and a trendy atmosphere.
Is Minneapolis a good city for students?
Yes! With affordable housing, student discounts on transport, free campus shuttles, and plenty of parks and cultural events, Minneapolis is both budget-friendly and student-friendly.