Minnesota cost of living
Moving to a new state can be exciting, but big moves come with a lot of details to figure out. It can be costly and emotionally draining. Once you figure out the practical stuff, you can focus on making friends and finding the must-see spots.
Regardless of why you’re thinking of moving to Minnesota, understanding the cost of living in the state will help you and your family transition seamlessly.
The median rent in Minnesota is $1,505.37, versus the national median rent of $1,529.01.
Jump to insightResidents in Minnesota spend $250.56 weekly on food at home and $97.07 on food out.
Jump to insightAs of publishing, the average price per gallon of regular gas is $3.22 in Minnesota.
Jump to insightRecent data shows that employees in Minnesota pay $1,537 annually for employee-sponsored health insurance coverage.
Jump to insightHousing costs in Minnesota
According to recent data from Zillow, the median rent in Minnesota is $1,505.37, while the national median rent is $1,529.01.
Data from the U.S. Census Bureau shows rent prices in Minnesota broken down by home size. As of publishing, one-bedroom apartments in Minnesota had a median cost of $1,062 per month, and the two-bedroom median cost was $1,273 per month. Three- and four-bedroom homes had median costs of $1,500 and $1,642, respectively.
As of publishing, the median home price in Minnesota is $360,000, according to Redfin. The U.S. median home price is $436,000.
The median home price in the Minneapolis-St. Paul metro area was $373,500 in the first quarter of 2024, according to the National Association of Realtors (NAR).
Minnesota ranks No. 19 for highest effective property tax rates in the nation, according to the most recent Tax Foundation data, at 1.11%.
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Food costs in Minnesota
According to recent census data, the average spent on food to prepare at home each week in Minnesota is $250.56, compared with the U.S. average of $270.21 at the time. Minnesota residents spend an average of $97.07 weekly on food prepared outside the home, compared with the U.S. average of $109.21.
Transportation costs in Minnesota
According to recent data from AAA, the average price per gallon of regular gas in Minnesota is $3.22, compared with the U.S. average of $3.46.
The most recent National Association of Insurance Commissioners data shows that the average auto insurance premium (liability, collision and comprehensive coverage combined) in Minnesota is $986.19, versus the national average of $1,189.50.
Public transportation costs
Public transit opportunities depend on where you live in Minnesota. The Minneapolis-St. Paul metro area ranked No. 32 in our 2024 ranking of cities with the best public transit. The average fare ran $2 as of publishing.
Health care costs in Minnesota
The most recent KFF data shows that, on average, employer-sponsored health insurance cost Minnesota employees $1,537 annually, with employers covering the remaining $5,989 of the $7,526 total cost.
Nationwide, the average employee contribution was $1,637 out of a total premium of $7,590.
Utility costs in Minnesota
According to the most recent data from the Energy Information Administration, the average monthly electric bill in Minnesota is $110.19, versus $135.25 countrywide.
Recent EIA data also shows that natural gas in Minnesota costs $11.85 per thousand cubic feet, compared with $13.25 nationally.
FAQ
How does the cost of living in Minnesota compare with the national average?
Like other Midwest states, Minnesota’s cost of living is lower than the national average, based on housing costs and various other factors.
Is Minnesota a good place to retire?
We ranked Minneapolis No. 11 on our 2024 list of best cities for retirement.
What other expenses should I consider when moving to Minnesota?
Minnesota has a reputation for cold, sometimes harsh winters, so don’t let the temperatures — or the heating costs — surprise you.
Article sources
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
- Zillow, "Housing Data." Accessed May 14, 2024.
- Redfin, "Redfin Data Center." Accessed May 14, 2024.
- Tax Foundation, "Where Do People Pay the Most in Property Taxes?" Accessed May 14, 2024.
- United States Census Bureau, "Week 63 Household Pulse Survey: October 18 - October 30." Accessed May 14, 2024.
- AAA Gas Prices, "State Gas Price Averages." Accessed June 14, 2024.
- National Association of Insurance Commissioners, "2020/2021 Auto Insurance Database Report." Accessed May 14, 2024.
- KFF, "Average Annual Single Premium per Enrolled Employee For Employer-Based Health Insurance." Accessed May 14, 2024.
- U.S. Energy Information Administration, "2022 Average Monthly Bill- Residential." Accessed May 14, 2024.
