Minnesota's cost of living index is 106 — 6.0% above the US average of 100. Compare purchasing power and equivalent salaries across states.
CoL Index
106
US avg = 100
vs. National Avg
+6.0%
More expensive
Median Income
$77,720
Minnesota median household
Equiv. at US Avg
$73,321
Same purchasing power
| CoL Index | 106 | MIT/MERIC composite index (US avg = 100) |
| vs. National | +6.0% | Above average cost |
| Median Household Income | $77,720 | Minnesota median (2023 ACS) |
| National Purchasing Power | $73,321 | Equivalent $ at US avg CoL |
| Overall Category | Moderate | Qualitative classification |
| Population | 5,706,494 | 2020 US Census |
With a cost of living index of 106, Minnesota is 6% above the national average. Higher costs in Minnesota mean your dollar stretches less far than in most states. A salary of $77,720 in Minnesota provides the equivalent purchasing power of $73,321 in a state with average cost of living.
Housing is typically the largest driver of cost of living differences between states.Minnesota's median home price of $320,000 is near the national median of approximately $310,000. Other factors include state income tax (9.85% top rate in Minnesota), sales tax (6.88% state rate), and local property tax rates (1.12%).
