Minneapolis vs Chicago: Cost of Living Comparison
Compare cost of living between Minneapolis, MN and Chicago, IL. Side-by-side breakdown of housing costs, rent, groceries, utilities, transportation, healthcare, state taxes, and salary equivalents.
vs
City A
Minneapolis
Minnesota
Cost Index104.8
Median Rent$1,371/mo
Median Income$81K
State Tax9.85%
Average
City B
Chicago
Illinois
Cost Index103.6
Median Rent$1,440/mo
Median Income$78K
State Tax4.95%
Average
Salary Equivalency Calculator
How much would you need in Chicago to match your lifestyle in Minneapolis?
$80,000
Minneapolis
$80,000
Cost Index: 104.8
Chicago
$79,064
Cost Index: 103.6
You need $936 less in Chicago to maintain the same lifestyle.
Category-by-Category Breakdown
Index scores where 100 = national average. Green highlights the city with the advantage.
Overall Cost Index-1.2%
Minneapolis104.8
Chicago103.6
Median Rent+5.0%
Minneapolis$1K
Chicago$1K
Median Income-3.6%
Minneapolis$81K
Chicago$78K
Grocery Index-8.5%
Minneapolis361.1
Chicago330.5
Utilities Index~equal
Minneapolis100.0
Chicago100.0
Transportation+3.2%
Minneapolis239.6
Chicago247.2
Healthcare~equal
Minneapolis100.0
Chicago100.0
State Tax Rate-49.7%
Minneapolis9.85%
Chicago4.95%
Side-by-Side Chart
Minneapolis: Pros & Cons
Lower rent — $1,371/mo vs $1,440/mo
Higher median income ($81K)
Lower unemployment (4%)
1% higher overall cost of living
Higher state income tax (9.85%)
Chicago: Pros & Cons
1% lower overall cost of living
Lower state income tax (4.95%)
Lower grocery costs
Higher rent — $1,440/mo vs $1,371/mo
Minneapolis vs Chicago – FAQ
Common questions about comparing cost of living between Minneapolis and Chicago.
Minneapolis has a cost of living index of 104.8, while Chicago scores 103.6. Minneapolis is approximately -1.2% more expensive overall. This comparison accounts for housing, groceries, utilities, transportation, healthcare, and taxes.
Median 2-bedroom rent in Minneapolis is $1,371/month compared to $1,440/month in Chicago — a difference of 5%. Rent is typically the largest monthly expense, so this significantly impacts overall affordability.
Due to cost of living differences, you would need approximately 99% of your Minneapolis salary to maintain the same standard of living in Chicago. For example, a $75,000 salary in Minneapolis would need to be about $74,122 in Chicago. Use the salary slider above to calculate your specific equivalent.
The cost of living index is calculated using data from the Bureau of Economic Analysis (Regional Price Parities), US Census Bureau (median incomes and home values), HUD (Fair Market Rents), and Bureau of Labor Statistics (consumer price data). A score of 100 represents the national average. Scores above 100 indicate higher-than-average costs, while scores below 100 are more affordable.
Minneapolis has a median household income of $80,846 with an unemployment rate of 4%. Chicago has a median household income of $77,902 with an unemployment rate of 4.5%. While income is higher in Minneapolis, remember to factor in cost of living when comparing real purchasing power.
Beyond cost of living, consider: (1) state income tax differences — some states have no income tax; (2) housing market trends and whether to rent or buy; (3) job market strength in your industry; (4) healthcare costs and access; (5) climate and lifestyle preferences; (6) commute times and transportation options; and (7) proximity to family. Our comparison tool covers the financial factors, but quality of life matters too.