Cost of living in Minneapolis
Minneapolis, MN, is a vibrant city known for its cultural diversity and economic opportunities. Understanding the cost of living here is crucial for anyone considering a move or planning their budget.
This guide provides a detailed breakdown of expenses in Minneapolis, covering everything from dining and groceries to housing and transportation.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $18 on average, with a range between $12 and $35.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $90, with prices ranging from $55.5 to $150.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $11, with a range between $9 and $13.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $5 to $8, imported beer $6 to $10, cappuccino $3.5 to $10, and Coke/Pepsi $2 to $5.
Grocery Prices
- Milk - Milk is priced between $0.73 and $1.32 per liter, averaging $0.94.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $2.74 and $5.51, with an average price of $3.9.
- Eggs (Dozen) - A dozen eggs range from $1.69 to $5, averaging $3.5.
- Fruits (e.g., Apples, Oranges) - Apples cost $2.5 to $6.61 per kg, while oranges range from $2.09 to $14.75 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.52 and $5.51 per kg, and lettuce costs $1.69 to $4 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $2 and $3, with a monthly pass priced between $80 and $130.
- Fuel (Gasoline) - Gasoline is priced between $0.79 and $1 per liter.
- Taxi Fares - Taxi fares start at $4.7, with a cost of $1.55 to $1.71 per km and $24 to $50 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $1265 to $2300, averaging $1639.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1000 to $1850, averaging $1229.33.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $1800 to $3500, averaging $2662.27.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1700 to $2500, averaging $2033.75.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $2510 to $5381.96, averaging $3482.79.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $2282 to $3767.37, averaging $2486.48.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $100 and $226.67, averaging $164.52.
- Internet - Internet services range from $50 to $100, with an average cost of $64.83.
Cost of Living Rankings
Minneapolis ranks 22nd on the Cost of Living rankings in United States. The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
Restaurants
Restaurants
Markets
Markets
Transportation
Transportation
Rent Per Month
Rent Per Month
Utilities (Monthly)
Utilities (Monthly)
Sports And Leisure
Sports And Leisure
Clothing And Shoes
Clothing And Shoes
Buy Apartment Price
Buy Apartment Price
Salaries And Financing
Salaries And Financing
Childcare
Childcare
"Key Takeaways"
Minneapolis offers a diverse range of living costs, with housing being a significant expense, especially in the city centre.
Dining out can be relatively affordable, but upscale dining experiences can be costly.
Transportation costs are moderate, with public transport and fuel prices being reasonable.
Grocery prices vary, with some items like fruits and vegetables showing a wide price range.
Conclusion
In conclusion, Minneapolis presents a balanced cost of living with options for both affordable and upscale lifestyles.
Potential residents should consider housing and transportation as key factors in their budgeting plans.
Overall, the city offers a vibrant lifestyle with diverse opportunities for dining, shopping, and entertainment.