Can you afford to live in Minneapolis?

Median household income, home values and rent in Minneapolis, MN — how they've changed since 2015 and how much of a typical paycheck housing takes compared with the rest of the country.

U.S. Census Bureau, American Community Survey 5-year estimates.

This story was assembled using AI and public data sources.

What it costs to live in Minneapolis.

Median household income: $80,269 — +55.9% since 2015 (not adjusted for inflation)

Median gross rent: $1,329/mo — +52.9% since 2015

Median home value, 2015 to 2023

• 2015: 205300
• 2023: 345600

Median household income

• Minneapolis: 80269
• Hennepin County: 96339
• MN: 87556
• U.S.: 78538

Median gross rent

• Minneapolis: 1329
• Hennepin County: 1439
• MN: 1235
• U.S.: 1348

Share of income a typical renter spends on rent: 28.7% — U.S.: 30.2%

What it means

Households here earn about what households nationally earn ($80,269 versus $78,538).

The typical renter here spends 28.7% of household income on rent, below the 30% cost-burden line.

Since 2015, income has kept pace with rent here (+55.9% versus +52.9%), before adjusting for inflation.