City comparison
Anchorage, AK vs Minneapolis, MN
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Overall prices in Anchorage, AK (105.4) and Minneapolis, MN (104.8, U.S. average = 100) are within 1% of each other, so $100,000 in Anchorage, AK goes as far as $99,400 in Minneapolis, MN.
- Rent is the bigger story: a typical 1-bedroom costs $1,405 a month in Minneapolis, MN versus $1,243 in Anchorage, AK. On $100,000, that's 23% of take-home pay in Minneapolis, MN and 19% in Anchorage, AK.
- On $100,000, estimated state income tax is about $5,277 a year higher in Minneapolis, MN than in Anchorage, AK.
- For federal employees, locality pay changes a GS-13 step 1 salary by −3.6% moving from Anchorage, AK to Minneapolis, MN ($120,348 → $116,038), while prices change by −0.6%. Net effect of the transfer: −3.0% in real buying power.
- Anchorage, AK: price level 105.4 (pricier)
- Minneapolis, MN: price level 104.8 (pricier)
Map drawn from Census Bureau state boundaries and metro locations9,10; dot colours show BEA price levels2.
Side by side
| Anchorage, AK | Minneapolis, MN | |
|---|---|---|
| Price level (U.S. = 100)2 | 105.4 | 104.8 |
| $100,000 is worth, in the other city2 | $99,433 in Minneapolis | $100,570 in Anchorage |
| Typical 1-bedroom rent3 | $1,243/mo | $1,405/mo |
| Take-home on $100,00014,15,8 | $79,180 | $73,903 |
| State income tax on $100,000 (estimate)8 | $0 (AK) | $5,277 (MN) |
| Rent burden on $100,000 | 19% | 23% |
| Median pay, all jobs4 | $60,200 | $59,320 |
| Federal locality pay area7 | State of Alaska | Minneapolis-St. Paul, MN-WI |
Rent areas: Anchorage, AK HUD Metro FMR Area and Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area. Metro areas: Anchorage, AK and Minneapolis-St. Paul-Bloomington, MN-WI.
What costs more or less
| Price level (U.S. = 100) | Anchorage | Minneapolis |
|---|---|---|
| Housing (rent) | 109.9 | 111.8 |
| Goods | 107.3 | 103.1 |
| Utilities | 111.8 | 93.5 |
| Other services | 103.3 | 104.4 |
| Overall | 105.4 | 104.8 |
Moving with the same $100,000 salary
Anchorage, AK → Minneapolis, MN
Roughly even
Buying power +0.6%; rent takes 23% of take-home; state tax +$5,277/yr.
71 Strong offer
Minneapolis, MN → Anchorage, AK
Roughly even
Buying power −0.6%; rent takes 19% of take-home; state tax −$5,277/yr.
67 Fair offer
On the GS pay scale?
Anchorage, AK is in the State of Alaska pay area; Minneapolis, MN is in Minneapolis-St. Paul, MN-WI. The last column shows what a transfer from Anchorage, AK to Minneapolis, MN at the same grade and step does to real buying power.
| Grade5,2 | Anchorage, AK | Minneapolis, MN | Real change, Anchorage → Minneapolis |
|---|---|---|---|
| GS-9 step 1 | $69,789 | $67,290 | −3.0% |
| GS-11 step 1 | $84,439 | $81,415 | −3.0% |
| GS-12 step 1 | $101,206 | $97,582 | −3.0% |
| GS-13 step 1 | $120,348 | $116,038 | −3.0% |
| GS-14 step 1 | $142,216 | $137,123 | −3.0% |
Pay for common jobs
| Median annual pay4 | Anchorage, AK | Minneapolis, MN | Minneapolis pay in Anchorage dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $79,270 | $79,730 | $80,185 (+1.2%) |
| Software Developers | $104,030 | $130,920 | $131,667 (+26.6%) |
| Accountants and Auditors | $82,150 | $86,500 | $86,993 (+5.9%) |
| Registered Nurses | $115,290 | $103,040 | $103,628 (−10.1%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.