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State cost profile · 2024 BEA RPP

Cost of Living in Minnesota

Statewide Regional Price Parities for Minnesota from the Bureau of Economic Analysis — overall, goods, services, and rents vs the U.S. average of 100, across 5 metro areas.

98.6
Statewide RPP
#22
of 51 states by cost
91.3
Rents RPP
5
Metro areas

The verdict

Minnesota costs less than 43% of U.S. states — a statewide index of 98.6, 1.4% below the national average.

98.6
statewide cost index (US average = 100)
#22
of 51 states by overall cost
bottom 57%
nationally, among all states
91.3
rents RPP — the biggest budget swing

A $100,000 national salary carries the purchasing power of about $101,398 when earned in Minnesota.

Reading the Minnesota Cost of Living Picture

The Bureau of Economic Analysis places Minnesota's statewide Regional Price Parity at 98.6 for the 2024 data year, 1.4% less expensive the U.S. baseline of 100. Inside the headline figure, the state's goods line runs hottest at 100.5, while services offer the biggest relief at 90.8. That internal spread — rather than the single state number — is what determines whether a household actually feels priced in or priced out.

Minnesota captures 5 metro areas in the BEA dataset, and the range across them is meaningful. Minneapolis-St. Paul-Bloomington, MN-WI leads on cost at 104.8, while St. Cloud, MN sits at the opposite end at 87.6 — a gap of 17.2 index points inside a single state. For goods the state indexes at 100.5, for services 90.8, and for rents 91.3 — the rent figure tends to be the most volatile input and deserves its own line-item review before any relocation decision.

Over time, Minnesota's statewide index has held steady within 1.8 points, suggesting a stable competitive position against other states. Practically, this means a $100,000 national salary delivers the purchasing power of about $101,398 of national buying power when earned inside Minnesota, and a household relocating here would need roughly $98,621 to reproduce a $100K lifestyle. Pair these numbers with metro-specific wage data and rent tables before treating the statewide figure as your planning assumption.

98.6
Overall
100.5
Goods
90.8
Services
91.3
Rents

Minnesota vs every U.S. state

Where this state sits in the national cost distribution

99 Top 43% higher than 57% of 51 US states

84–87: 2 US states (4%). Below this entry. 87–90: 7 US states (14%). Below this entry. 90–93: 8 US states (16%). Below this entry. 93–96: 6 US states (12%). Below this entry. 96–99: 8 US states (16%). This entry sits in this band. 99–102: 5 US states (10%). Above this entry. 102–105: 8 US states (16%). Above this entry. 105–108: 3 US states (6%). Above this entry. 108–111: 4 US states (8%). Above this entry. 111–114: 0 US states (0%). Above this entry. 114–117: 0 US states (0%). Above this entry. This state 84 117 every US state (incl. DC), bucketed by value

Each bar is a band; taller bars hold more US states. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.

Source U.S. Bureau of Economic Analysis — Regional Price Parities · 2024

Most Expensive in Minnesota → Cheapest in Minnesota →

Metro areas in Minnesota, ranked by cost

# Metro area OverallGoodsServicesRents
1 Minneapolis-St. Paul-Bloomington 104.8 103.1 93.5 111.8
2 Mankato 91.0 95.4 87.0 79.9
3 Rochester 90.8 95.4 87.4 78.6
4 Duluth 88.8 95.3 87.3 71.1
5 St. Cloud 87.6 95.4 88.7 65.1

The Rents RPP index measures housing costs relative to the national average (100). For the federal 40th-percentile Fair Market Rent by bedroom size and county, see the HUD Fair Market Rents dataset.

RPP History

Year Overall
2008 96.8
2009 98.7
2010 97.6
2011 97.2
2012 97.4
2013 97.5
2014 98.3
2015 97.7
2016 97.2
2017 96.7
2018 99.6
2019 98.8
2020 97.8
2021 98.4
2022 97.5
2023 98.3
2024 98.6

Cost of Living Guides

Cheapest Metros to Live in 2026
Official BEA data on the most affordable areas
Most Expensive Cities: 2026 Rankings
What drives high costs and how to cope
Cost of Living vs Wages
Where your dollar goes furthest
Understanding Regional Price Parities
How BEA constructs RPP data

View all guides →

Frequently Asked Questions

What is the cost of living in Minnesota? ▼
Minnesota has a Regional Price Parity (RPP) index of 98.6, meaning it is 1.4% less expensive than the national average. Goods are indexed at 100.5, services at 90.8, and rents at 91.3.
What salary in Minnesota equals $100K nationally? ▼
To maintain the same purchasing power as a $100,000 salary at the national average, you would need approximately $98,621 in Minnesota. Conversely, $100K earned in Minnesota has the purchasing power of $101,398 at the national average.
Is housing expensive in Minnesota? ▼
Rents in Minnesota are indexed at 91.3, which is 8.7% below the national average. Housing costs are close to the national average.
Which is the most expensive metro in Minnesota? ▼
The most expensive metro area in Minnesota is Minneapolis-St. Paul-Bloomington, MN-WI with an RPP of 104.8. The most affordable is St. Cloud, MN at 87.6. There are 5 metro areas in Minnesota with BEA price data.
Is Minnesota getting more expensive? ▼
From 2008 to 2024, Minnesota's overall cost index changed by +1.8 points (from 96.8 to 98.6). The cost of living has remained relatively stable.
What is most expensive in Minnesota compared to the U.S. average? ▼
The most expensive category in Minnesota is goods at 100.5, which is 0.5% above the national average. The most affordable category is services at 90.8, 9.2% below average.

Source: Bureau of Economic Analysis, Regional Price Parities Bureau of Economic Analysis, Regional Price Parities Index where national average = 100

Read our methodology — how this data is sourced, computed, and verified.