Calculate using real Minneapolis data. Median home price: $320,000. Property tax rate: 1.2%.
Minneapolis, MN has a cost of living index of 105, where 100 represents the national average. This means living in Minneapolis is 5% more expensive the national average.
The median household income in Minneapolis, MN is $64,044. Combined with a cost of living index of 105, this provides a picture of purchasing power in the area.
The median home price in Minneapolis, MN is $320,000 with a property tax rate of 1.2%. Monthly housing costs (mortgage + taxes + insurance) on a median-priced home would be approximately $2,088.