City comparison
Minneapolis, MN vs New York, NY
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in New York, NY are 7.4% higher than in Minneapolis, MN. Someone earning $100,000 in Minneapolis, MN would need about $107,400 in New York, NY to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $2,655 a month in New York, NY versus $1,405 in Minneapolis, MN. On $100,000, that's 43% of take-home pay in New York, NY and 23% in Minneapolis, MN.
- On $100,000, estimated state income tax is about $417 a year higher in Minneapolis, MN than in New York, NY.
- For federal employees, locality pay changes a GS-13 step 1 salary by +8.1% moving from Minneapolis, MN to New York, NY ($116,038 → $125,431), while prices change by +7.4%. Net effect of the transfer: +0.7% in real buying power.
- Minneapolis, MN: price level 104.8 (pricier)
- New York, NY: price level 112.6 (much pricier)
Map drawn from Census Bureau state boundaries and metro locations9,10; dot colours show BEA price levels2.
Side by side
| Minneapolis, MN | New York, NY | |
|---|---|---|
| Price level (U.S. = 100)2 | 104.8 | 112.6 |
| $100,000 is worth, in the other city2 | $107,385 in New York | $93,123 in Minneapolis |
| Typical 1-bedroom rent3 | $1,405/mo | $2,655/mo |
| Take-home on $100,00014,15,8 | $73,903 | $74,320 |
| State income tax on $100,000 (estimate)8 | $5,277 (MN) | $4,860 (NY) |
| Rent burden on $100,000 | 23% | 43% |
| Median pay, all jobs4 | $59,320 | $61,430 |
| Federal locality pay area7 | Minneapolis-St. Paul, MN-WI | New York-Newark, NY-NJ-CT-PA |
Rent areas: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area and New York, NY HUD Metro FMR Area. Metro areas: Minneapolis-St. Paul-Bloomington, MN-WI and New York-Newark-Jersey City, NY-NJ.
What costs more or less
| Price level (U.S. = 100) | Minneapolis | New York |
|---|---|---|
| Housing (rent) | 111.8 | 148.6 |
| Goods | 103.1 | 110.3 |
| Utilities | 93.5 | 127.0 |
| Other services | 104.4 | 105.8 |
| Overall | 104.8 | 112.6 |
Moving with the same $100,000 salary
Minneapolis, MN → New York, NY
Same pay buys less
Buying power −6.9%; rent takes 43% of take-home; state tax −$417/yr.
20 Weak offer
New York, NY → Minneapolis, MN
Same pay goes further
Buying power +7.4%; rent takes 23% of take-home; state tax +$417/yr.
92 Strong offer
On the GS pay scale?
Minneapolis, MN is in the Minneapolis-St. Paul, MN-WI pay area; New York, NY is in New York-Newark, NY-NJ-CT-PA. The last column shows what a transfer from Minneapolis, MN to New York, NY at the same grade and step does to real buying power.
| Grade5,2 | Minneapolis, MN | New York, NY | Real change, Minneapolis → New York |
|---|---|---|---|
| GS-9 step 1 | $67,290 | $72,737 | +0.7% |
| GS-11 step 1 | $81,415 | $88,005 | +0.7% |
| GS-12 step 1 | $97,582 | $105,481 | +0.7% |
| GS-13 step 1 | $116,038 | $125,431 | +0.7% |
| GS-14 step 1 | $137,123 | $148,222 | +0.7% |
Pay for common jobs
| Median annual pay4 | Minneapolis, MN | New York, NY | New York pay in Minneapolis dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $79,730 | $96,900 | $90,236 (+13.2%) |
| Software Developers | $130,920 | $166,830 | $155,357 (+18.7%) |
| Accountants and Auditors | $86,500 | $105,650 | $98,384 (+13.7%) |
| Registered Nurses | $103,040 | $119,720 | $111,487 (+8.2%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.