Free calculators built with local Minneapolis data to help you make smarter financial decisions. Our tools use Minneapolis-specific property tax rates, median income data, and cost of living metrics so your results are accurate for your area.
With a median home price of $320,000 and a property tax rate of 1.2%,Minneapolis homeowners pay approximately $3,840 in annual property taxes. The median household income of $64,044 and cost of living index of 105(national average = 100) provide important context for financial planning.
Whether you are buying your first home in Minneapolis, calculating take-home pay after state and local taxes, estimating auto insurance costs, or planning for retirement, CalcHubb's suite of financial tools is designed to reflect local economic conditions. Our mortgage and affordability calculators incorporateMinneapolis-specific property tax data so you get a realistic picture of total housing costs.
Minneapolis is located in Minnesota, which has a state income tax rate of 9.85%. Use our income tax calculator to estimate your federal and state tax obligations based on your specific situation.
Median Home Price
$320,000
Property Tax Rate
1.2%
Est. Annual Tax
$3,840
Median Income
$64,044
Cost of Living
105 / 100
Population
425,336
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