What salary do you need to live in Minneapolis?
This rule states that an individual shouldn’t pay more than 30% of their pre-tax income toward housing costs. The median rent for a one-bedroom apartment in Minneapolis is $1,541. This means that an individual should make at least $4,623 monthly or $55,476 annually to live comfortably in Minneapolis.
What is the cost of living in Minneapolis Minnesota?
Minneapolis cost of living is 106.5
| COST OF LIVING | Minneapolis | Minnesota |
|---|---|---|
| Grocery | 101.2 | 97.2 |
| Health | 78.5 | 79.7 |
| Housing | 117.1 | 101.9 |
| Median Home Cost | $330,700 | $300,100 |
How much do utilities cost per month in Minneapolis?
Cost of Living in Minneapolis
| Restaurants | Edit |
|---|---|
| Utilities (Monthly) | Edit |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 143.53$ |
| 1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) | 0.25$ |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 59.86$ |
What is a livable salary in MN?
Living Wage Calculation for Hennepin County, Minnesota
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Living Wage | $15.91 | $23.19 |
| Poverty Wage | $6.13 | $6.30 |
| Minimum Wage | $10.00 | $10.00 |
What is low income in MN?
2020 Income Limits (Minneapolis-St. Paul-Bloomington, MN)
| Income/Category | 1 Person | 2 Person |
|---|---|---|
| Extremely Low Income | $21,700 | $24,800 |
| Very Low Income | $36,200 | $41,400 |
| Low Income | $54,950 | $62,800 |
Is Minneapolis cheap to live?
Move.org recently analyzed data from the 75 largest cities in the U.S. to see which had the most affordable cost of living and, at the other end of the scale, which ones are expensive, like San Francisco. Minneapolis came in at No. 28 on the list of expensive cities, with average monthly expenses of $2,105, while St.
What’s it like to live in Minneapolis Minnesota?
Good Infrastructure. On a practical level, Minneapolis includes a lot of well-managed infrastructure which makes living here convenient. Thanks to a large and well-designed highway network, traffic here usually isn’t bad, especially compared to other major cities. Minneapolis has a major international airport.
Is 50k a good salary in Minnesota?
According to census data, 41 percent of households in Minnesota make less than $50,000 a year, while 60 percent make less than $75,000. (To put that in perspective, a $50,000 yearly salary equates to a $25 hourly wage doing full-time work.)
What is a good salary in MN?
Average Salary in Minnesota
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $84,883 | $41 |
| 75th Percentile | $69,793 | $34 |
| Average | $57,001 | $27 |
| 25th Percentile | $46,686 | $22 |
What is affordable housing Minnesota?
Low income: A household that earns 80% of area median income or less, relative to household size. This would include a family of four with a gross income of $75,500 or less. Affordable: When a household with a low income pays no more than 30% of its gross income for housing costs, including basic utilities.
How much does it cost to rent an apartment in Minneapolis?
As of September 2019, the average apartment rent in Minneapolis, MN is $1,053 for a studio, $1,236 for one bedroom, $1,747 for two bedrooms, and $2,118 for three bedrooms. Apartment rent in Minneapolis has increased by 3.1% in the past year.
How much does it cost to live in Minneapolis MN?
Check out 3,044 verified apartments for rent in Minneapolis, MN with rents starting as low as $500. Some apartments for rent in Minneapolis might offer rent specials. Look out for the rent special icon!
Are there condos for rent in Minneapolis MN?
In spite of being a major economic hub, the city is full of surprisingly affordable apartments, condos, and rental homes. If you live in Downtown, getting around in winter is never a problem thanks to the skyway system.
What makes Minneapolis a good place to live?
The city’s robust economy has deep roots, with numerous major companies having operated corporate headquarters in the city for decades (in some cases a century or more). In spite of being a major economic hub, the city is full of surprisingly affordable apartments, condos, and rental homes.