Affordable

What Salary Do You Need to Live in Minneapolis?

To afford a 2-bedroom in Minneapolis, you need to earn at least $61,080/year based on estimated fair market rent data. The median household income here is $76,332, which means the typical resident is $15,252 above the threshold.

Census ACS Data Pop. 426,877

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$1,069	$3,563	$42,760	$-33,572
1 Bedroom	$1,267	$4,223	$50,680	$-25,652
2 Bedroom BENCHMARK	$1,527	$5,090	$61,080	$-15,252
3 Bedroom	$1,863	$6,210	$74,520	$-1,812
4 Bedroom	$2,291	$7,637	$91,640	+$15,308

Affordability Breakdown

Where the required salary line crosses above Minneapolis's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$76,332

Annual household

2BR Required Salary

$61,080

Under 30% rule

Income Gap

+$15,252

Surplus

Verdict

Affordable

Ratio: 24.0%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Minneapolis

Your Annual Salary

Pre-filled with Minneapolis's median household income

Max monthly rent you can afford$1,908

Studio

$1,069/mo

1 BR

$1,267/mo

2 BR

$1,527/mo

3 BR

$1,863/mo

4 BR

$2,291/mo

Your salary is $0 above the median income in Minneapolis.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Minneapolis's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Minneapolis

Living in Minneapolis is well within reach for most median-income earners. With a $15,252 cushion between what residents earn and what a 2-bedroom requires, households in Minneapolis typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Minneapolis, a studio at $1,069/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,863/month remains accessible for dual-income households earning above $74,520.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $91,620 would position you well — though many residents in Minneapolis manage on less given the favorable rent-to-income dynamics.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Minneapolis, Minnesota.

With a total population of 426,877, the city supports an active civilian workforce of 244,212 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $61,080 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

244,212

Active civilian employees in Minneapolis

Frequently Asked Questions About Renting in Minneapolis

What salary do I need to live in Minneapolis, Minnesota?

To afford a 2-bedroom in Minneapolis under the 30% rule, you need an annual salary of at least $61,080. The median household income in Minneapolis is $76,332.

Can I afford a 2-bedroom in Minneapolis on $76,332?

The affordability verdict for Minneapolis is "Affordable". The rent-to-income ratio is 24.0%, meaning median earners have a $15,252 surplus.

What is the average rent in Minneapolis compared to median income?

The median gross rent in Minneapolis is $1,267/month. With a median household income of $76,332, residents spend approximately 24.0% of their income on rent.

What salary do I need for a studio in Minneapolis?

A studio in Minneapolis rents for approximately $1,069/month. Under the 30% rule, you need an annual salary of $42,760 to afford this.

Is Minneapolis considered an affordable place to live?

Based on the surplus of $15,252 and an affordability verdict of "Affordable", Minneapolis is considered a affordable rental market when comparing the required 2-bedroom salary of $61,080 to the local median household income.

How Minneapolis Compares

Other cities in Minnesota with salary requirements