City comparison
Denver, CO vs Minneapolis, MN
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Overall prices in Denver, CO (105.8) and Minneapolis, MN (104.8, U.S. average = 100) are within 1% of each other, so $100,000 in Denver, CO goes as far as $99,100 in Minneapolis, MN.
- Rent is the bigger story: a typical 1-bedroom costs $1,754 a month in Denver, CO versus $1,405 in Minneapolis, MN. On $100,000, that's 28% of take-home pay in Denver, CO and 23% in Minneapolis, MN.
- On $100,000, estimated state income tax is about $1,585 a year higher in Minneapolis, MN than in Denver, CO.
- For federal employees, locality pay changes a GS-13 step 1 salary by −2.2% moving from Denver, CO to Minneapolis, MN ($118,675 → $116,038), while prices change by −0.9%. Net effect of the transfer: −1.3% in real buying power.
- Denver, CO: price level 105.8 (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
| Denver, CO | Minneapolis, MN | |
|---|---|---|
| Price level (U.S. = 100)2 | 105.8 | 104.8 |
| $100,000 is worth, in the other city2 | $99,092 in Minneapolis | $100,916 in Denver |
| Typical 1-bedroom rent3 | $1,754/mo | $1,405/mo |
| Take-home on $100,00014,15,8 | $75,488 | $73,903 |
| State income tax on $100,000 (estimate)8 | $3,692 (CO) | $5,277 (MN) |
| Rent burden on $100,000 | 28% | 23% |
| Median pay, all jobs4 | $62,320 | $59,320 |
| Federal locality pay area7 | Denver-Aurora, CO | Minneapolis-St. Paul, MN-WI |
Rent areas: Denver-Aurora-Centennial, CO MSA and Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area. Metro areas: Denver-Aurora-Centennial, CO and Minneapolis-St. Paul-Bloomington, MN-WI.
What costs more or less
| Price level (U.S. = 100) | Denver | Minneapolis |
|---|---|---|
| Housing (rent) | 146.9 | 111.8 |
| Goods | 101.0 | 103.1 |
| Utilities | 87.9 | 93.5 |
| Other services | 99.4 | 104.4 |
| Overall | 105.8 | 104.8 |
Moving with the same $100,000 salary
Denver, CO → Minneapolis, MN
Roughly even
Buying power +0.9%; rent takes 23% of take-home; state tax +$1,585/yr.
72 Strong offer
Minneapolis, MN → Denver, CO
Roughly even
Buying power −0.9%; rent takes 28% of take-home; state tax −$1,585/yr.
62 Fair offer
On the GS pay scale?
Denver, CO is in the Denver-Aurora, CO pay area; Minneapolis, MN is in Minneapolis-St. Paul, MN-WI. The last column shows what a transfer from Denver, CO to Minneapolis, MN at the same grade and step does to real buying power.
| Grade5,2 | Denver, CO | Minneapolis, MN | Real change, Denver → Minneapolis |
|---|---|---|---|
| GS-9 step 1 | $68,819 | $67,290 | −1.3% |
| GS-11 step 1 | $83,265 | $81,415 | −1.3% |
| GS-12 step 1 | $99,800 | $97,582 | −1.3% |
| GS-13 step 1 | $118,675 | $116,038 | −1.3% |
| GS-14 step 1 | $140,239 | $137,123 | −1.3% |
Pay for common jobs
| Median annual pay4 | Denver, CO | Minneapolis, MN | Minneapolis pay in Denver dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $76,910 | $79,730 | $80,460 (+4.6%) |
| Software Developers | $137,610 | $130,920 | $132,119 (−4.0%) |
| Accountants and Auditors | $100,020 | $86,500 | $87,292 (−12.7%) |
| Registered Nurses | $101,130 | $103,040 | $103,984 (+2.8%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.