Minneapolis, MN vs Miami, FL: cost of living compared
Price levels from BEA (2024); rent and home values from Zillow (September 2026).
The short answer
- Overall, Miami, FL is 8.9% more expensive than Minneapolis, MN (BEA, 2024).
- To keep the same standard of living, $75,000 in Minneapolis works out to about $81,700 in Miami, before taxes.
- Most of the difference is housing, which costs 39.1% more in Miami. Goods are 0.5% higher and other services 4.5% higher.
- Typical asking rent is $2,654 a month in Miami and $1,736 in Minneapolis, $11,016 a year more in Miami (Zillow, September 2026).
- A typical home is valued at about $477,000 in Miami and $388,000 in Minneapolis.
- The gap has widened since 2019, when Miami was 5.6% more expensive than Minneapolis.
derived Calculated from BEA Regional Price Parities (2024) and Zillow data. Based on an average household's spending; taxes not included. How we calculate.
Category by category
Both cities against the US average (100). The gap in each row is what matters for a move.
Housing drives the gap: 39.1% higher in Miami than in Minneapolis
Price level by category, 2024. US average = 100.
- Minneapolis, MN
- Miami, FL
All items Minneapolis, MN: 104.8 Miami, FL: 114.2
Goods Minneapolis, MN: 103.1 Miami, FL: 103.6
Housing (rents) Minneapolis, MN: 111.8 Miami, FL: 155.6
Utilities Minneapolis, MN: 93.5 Miami, FL: 97.2
Other services Minneapolis, MN: 104.4 Miami, FL: 109.1
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Minneapolis, MN | Miami, FL | |
|---|---|---|
| All items | 104.8 | 114.2 |
| Goods | 103.1 | 103.6 |
| Housing (rents) | 111.8 | 155.6 |
| Utilities | 93.5 | 97.2 |
| Other services | 104.4 | 109.1 |
| Category | Minneapolis | Miami | Miami vs Minneapolis |
|---|---|---|---|
| All items | 104.8 | 114.2 | +8.9% |
| Goods | 103.1 | 103.6 | +0.5% |
| Housing (rents) | 111.8 | 155.6 | +39.1% |
| Utilities | 93.5 | 97.2 | +4.0% |
| Other services | 104.4 | 109.1 | +4.5% |
| Typical asking rent | $1,736 | $2,654 | +52.9% |
| Typical home value | $388,000 | $477,000 | +23.0% |
| Salary to match $75,000 in Minneapolis | $75,000 | $81,700 | +8.9% |
Index values: BEA, 2024, US = 100. Rent and home values: Data Provided by Zillow Group, September 2026.
How the gap has changed since 2008
The price gap between Minneapolis and Miami has widened since 2008: 3.5 points then, 9.3 now
Overall price level each year, 2008–2024. US average = 100.
- Minneapolis, MN
- Miami, FL
US average = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Minneapolis, MN | Miami, FL | |
|---|---|---|
| 2008 | 102.9 | 106.5 |
| 2009 | 105.0 | 106.0 |
| 2010 | 102.3 | 105.3 |
| 2011 | 102.5 | 106.7 |
| 2012 | 101.2 | 107.5 |
| 2013 | 102.1 | 106.7 |
| 2014 | 103.6 | 105.9 |
| 2015 | 102.8 | 107.3 |
| 2016 | 102.3 | 107.9 |
| 2017 | 102.3 | 108.3 |
| 2018 | 104.7 | 109.5 |
| 2019 | 102.7 | 108.6 |
| 2020 | 102.4 | 109.5 |
| 2021 | 103.5 | 110.0 |
| 2022 | 102.6 | 111.9 |
| 2023 | 104.3 | 112.1 |
| 2024 | 104.8 | 114.2 |
Goods
- Minneapolis, MN
- Miami, FL
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Minneapolis, MN | Miami, FL | |
|---|---|---|
| 2008 | 104.3 | 100.1 |
| 2009 | 106.5 | 97.9 |
| 2010 | 100.2 | 96.8 |
| 2011 | 101.7 | 97.9 |
| 2012 | 102.0 | 99.6 |
| 2013 | 100.9 | 101.5 |
| 2014 | 103.7 | 100.3 |
| 2015 | 102.0 | 99.6 |
| 2016 | 100.0 | 100.5 |
| 2017 | 103.1 | 103.2 |
| 2018 | 105.1 | 104.4 |
| 2019 | 102.4 | 99.8 |
| 2020 | 100.5 | 100.3 |
| 2021 | 103.2 | 105.3 |
| 2022 | 102.5 | 104.8 |
| 2023 | 104.5 | 101.8 |
| 2024 | 103.1 | 103.6 |
Housing (rents)
- Minneapolis, MN
- Miami, FL
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Minneapolis, MN | Miami, FL | |
|---|---|---|
| 2008 | 119.9 | 147.0 |
| 2009 | 116.8 | 138.6 |
| 2010 | 114.1 | 138.1 |
| 2011 | 113.9 | 138.5 |
| 2012 | 111.7 | 140.7 |
| 2013 | 115.0 | 137.7 |
| 2014 | 115.5 | 138.9 |
| 2015 | 119.7 | 143.6 |
| 2016 | 116.6 | 141.3 |
| 2017 | 119.6 | 142.1 |
| 2018 | 116.8 | 142.2 |
| 2019 | 118.0 | 143.8 |
| 2020 | 112.0 | 144.0 |
| 2021 | 114.7 | 143.7 |
| 2022 | 119.0 | 147.2 |
| 2023 | 110.3 | 156.6 |
| 2024 | 111.8 | 155.6 |
Utilities
- Minneapolis, MN
- Miami, FL
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Minneapolis, MN | Miami, FL | |
|---|---|---|
| 2008 | 86.7 | 104.6 |
| 2009 | 86.5 | 109.0 |
| 2010 | 82.2 | 98.8 |
| 2011 | 82.5 | 100.6 |
| 2012 | 87.7 | 98.3 |
| 2013 | 85.9 | 97.7 |
| 2014 | 87.4 | 96.9 |
| 2015 | 86.6 | 94.0 |
| 2016 | 92.8 | 93.5 |
| 2017 | 92.8 | 86.3 |
| 2018 | 96.0 | 95.3 |
| 2019 | 91.7 | 103.1 |
| 2020 | 90.8 | 96.2 |
| 2021 | 90.2 | 97.0 |
| 2022 | 85.8 | 106.4 |
| 2023 | 89.8 | 98.0 |
| 2024 | 93.5 | 97.2 |
Other services
- Minneapolis, MN
- Miami, FL
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Minneapolis, MN | Miami, FL | |
|---|---|---|
| 2008 | 98.6 | 98.6 |
| 2009 | 101.9 | 100.7 |
| 2010 | 101.6 | 101.0 |
| 2011 | 101.1 | 102.9 |
| 2012 | 98.7 | 103.1 |
| 2013 | 100.3 | 101.1 |
| 2014 | 101.3 | 100.3 |
| 2015 | 99.9 | 102.7 |
| 2016 | 100.6 | 103.8 |
| 2017 | 98.2 | 103.0 |
| 2018 | 102.0 | 104.0 |
| 2019 | 99.7 | 104.6 |
| 2020 | 101.5 | 105.6 |
| 2021 | 101.3 | 103.9 |
| 2022 | 99.4 | 106.7 |
| 2023 | 103.1 | 106.7 |
| 2024 | 104.4 | 109.1 |
Rent and home values
Typical asking rent: $2,654 in Miami vs $1,736 in Minneapolis
Typical asking rent for a new lease, dollars per month. Quarterly.
- Minneapolis, MN
- Miami, FL
- United States
Source: Zillow Observed Rent Index (typical asking rent, all homes, smoothed), through September 2026. Data Provided by Zillow Group.
Show the numbers
| Minneapolis, MN | Miami, FL | United States | |
|---|---|---|---|
| Mar 2015 | $1,134 | $1,463 | $1,145 |
| Jun 2015 | $1,160 | $1,486 | $1,170 |
| Sep 2015 | $1,165 | $1,513 | $1,181 |
| Dec 2015 | $1,160 | $1,532 | $1,182 |
| Mar 2016 | $1,172 | $1,539 | $1,195 |
| Jun 2016 | $1,207 | $1,542 | $1,219 |
| Sep 2016 | $1,212 | $1,551 | $1,225 |
| Dec 2016 | $1,211 | $1,555 | $1,222 |
| Mar 2017 | $1,242 | $1,572 | $1,245 |
| Jun 2017 | $1,266 | $1,579 | $1,270 |
| Sep 2017 | $1,275 | $1,598 | $1,276 |
| Dec 2017 | $1,275 | $1,605 | $1,275 |
| Mar 2018 | $1,309 | $1,613 | $1,296 |
| Jun 2018 | $1,319 | $1,626 | $1,320 |
| Sep 2018 | $1,329 | $1,643 | $1,327 |
| Dec 2018 | $1,333 | $1,661 | $1,329 |
| Mar 2019 | $1,364 | $1,659 | $1,349 |
| Jun 2019 | $1,385 | $1,671 | $1,376 |
| Sep 2019 | $1,385 | $1,686 | $1,383 |
| Dec 2019 | $1,389 | $1,712 | $1,381 |
| Mar 2020 | $1,414 | $1,717 | $1,402 |
| Jun 2020 | $1,416 | $1,702 | $1,406 |
| Sep 2020 | $1,416 | $1,717 | $1,410 |
| Dec 2020 | $1,406 | $1,763 | $1,407 |
| Mar 2021 | $1,419 | $1,829 | $1,443 |
| Jun 2021 | $1,460 | $1,948 | $1,512 |
| Sep 2021 | $1,480 | $2,130 | $1,590 |
| Dec 2021 | $1,478 | $2,258 | $1,622 |
| Mar 2022 | $1,510 | $2,366 | $1,661 |
| Jun 2022 | $1,540 | $2,473 | $1,721 |
| Sep 2022 | $1,544 | $2,507 | $1,748 |
| Dec 2022 | $1,529 | $2,519 | $1,735 |
| Mar 2023 | $1,559 | $2,526 | $1,757 |
| Jun 2023 | $1,576 | $2,540 | $1,785 |
| Sep 2023 | $1,574 | $2,551 | $1,797 |
| Dec 2023 | $1,567 | $2,555 | $1,786 |
| Mar 2024 | $1,597 | $2,569 | $1,807 |
| Jun 2024 | $1,618 | $2,581 | $1,837 |
| Sep 2024 | $1,619 | $2,594 | $1,845 |
| Dec 2024 | $1,611 | $2,595 | $1,836 |
| Mar 2025 | $1,643 | $2,606 | $1,860 |
| Jun 2025 | $1,671 | $2,608 | $1,880 |
| Sep 2025 | $1,677 | $2,606 | $1,881 |
| Dec 2025 | $1,680 | $2,608 | $1,873 |
| Mar 2026 | $1,700 | $2,622 | $1,894 |
| Jun 2026 | $1,728 | $2,637 | $1,921 |
| Sep 2026 | $1,736 | $2,654 | $1,932 |
Typical home value: $477,000 in Miami vs $388,000 in Minneapolis
Typical home value, dollars. Quarterly.
- Minneapolis, MN
- Miami, FL
- United States
Source: Zillow Home Value Index (typical home value, middle tier, smoothed, seasonally adjusted), through September 2026. Data Provided by Zillow Group.
Show the numbers
| Minneapolis, MN | Miami, FL | United States | |
|---|---|---|---|
| Mar 2015 | $223K | $219K | $189K |
| Jun 2015 | $227K | $224K | $192K |
| Sep 2015 | $229K | $230K | $195K |
| Dec 2015 | $233K | $236K | $199K |
| Mar 2016 | $238K | $241K | $202K |
| Jun 2016 | $242K | $246K | $204K |
| Sep 2016 | $244K | $251K | $206K |
| Dec 2016 | $248K | $256K | $209K |
| Mar 2017 | $255K | $261K | $213K |
| Jun 2017 | $260K | $266K | $216K |
| Sep 2017 | $262K | $271K | $219K |
| Dec 2017 | $265K | $276K | $223K |
| Mar 2018 | $272K | $281K | $227K |
| Jun 2018 | $277K | $284K | $230K |
| Sep 2018 | $281K | $289K | $234K |
| Dec 2018 | $282K | $294K | $236K |
| Mar 2019 | $287K | $297K | $239K |
| Jun 2019 | $290K | $297K | $242K |
| Sep 2019 | $291K | $298K | $244K |
| Dec 2019 | $294K | $303K | $247K |
| Mar 2020 | $301K | $310K | $252K |
| Jun 2020 | $304K | $310K | $255K |
| Sep 2020 | $306K | $314K | $260K |
| Dec 2020 | $318K | $326K | $271K |
| Mar 2021 | $330K | $338K | $282K |
| Jun 2021 | $344K | $353K | $296K |
| Sep 2021 | $350K | $370K | $306K |
| Dec 2021 | $352K | $385K | $314K |
| Mar 2022 | $364K | $412K | $330K |
| Jun 2022 | $376K | $443K | $346K |
| Sep 2022 | $372K | $456K | $348K |
| Dec 2022 | $367K | $459K | $345K |
| Mar 2023 | $365K | $461K | $343K |
| Jun 2023 | $369K | $469K | $347K |
| Sep 2023 | $372K | $479K | $352K |
| Dec 2023 | $371K | $488K | $354K |
| Mar 2024 | $372K | $494K | $357K |
| Jun 2024 | $374K | $499K | $361K |
| Sep 2024 | $373K | $499K | $361K |
| Dec 2024 | $378K | $497K | $363K |
| Mar 2025 | $380K | $493K | $364K |
| Jun 2025 | $378K | $484K | $362K |
| Sep 2025 | $381K | $476K | $362K |
| Dec 2025 | $385K | $473K | $364K |
| Mar 2026 | $388K | $474K | $366K |
| Jun 2026 | $386K | $473K | $365K |
| Sep 2026 | $388K | $477K | $366K |
More about each city
- Cost of living in Minneapolis, MN
- Cost of living in Miami, FL
- Reverse: moving from Miami to Minneapolis
Related comparisons
What this comparison leaves out
- Taxes. State and local income, sales and property taxes can change the result a lot, especially between states.
- Neighborhoods. These are metro-wide averages; a city center and its outer suburbs can differ by more than two metros do.
- Your own spending mix. The default uses an average household. Use the housing slider above if rent is a bigger share of your budget.
- Timing. BEA price levels are for 2024; Zillow figures are monthly and newer.