New York, NY vs Minneapolis, MN
Cost of living comparison · 2023 Census ACS data
Quick Summary
The headline difference between these two markets is housing: a typical home in Minneapolis runs $346,000 versus $752,000 in New York, a 54% gap that dominates most relocation math.
Median Home Value
$751,700
$345,600 ✓
Zillow Home Value
$812,534
$327,043
Median Gross Rent
$1,779/mo
$1,329/mo ✓
Owner Occupied %
32.8%
48.0%
Price-to-Rent Ratio
35.2x
21.7x
Median Household Income
$79,713
$80,269 ✓
Per Capita Income
$50,776
$50,605
Unemployment Rate
7.7%
5.7% ✓
Poverty Rate
17.4%
16.4%
Avg Commute (min)
44.8 min
24.3 min
Drove Alone %
21.9%
53.4%
Public Transit %
45.5%
7.5%
Work From Home %
15.0%
23.3%
State Income Tax
10.9%
9.8%
Total Sales Tax
8.5%
7.4% ✓
Property Tax Rate
1.7%
1.1%
Bachelor's Degree %
23.6%
32.7%
Median Age
38
33
Avg High Temp
62.6°F
—
Annual Precipitation
49.5"
33.3"
Annual Snowfall
29.8"
—
New York, NY 0 wins
Minneapolis, MN 5 wins
- ✓Median Home Value
- ✓Median Gross Rent
- ✓Total Sales Tax
- ✓Median Household Income
- ✓Unemployment Rate
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