Quick answer
Phoenix is 40% cheaper than Minneapolis overall. A $100K salary in Minneapolis is equivalent to $60,000 in Phoenix.
Cost of Living Comparison · 2026
Minneapolis vs Phoenix Cost of Living (2026)
Side-by-side cost comparison plus a salary calculator to find your equivalent pay in either city.
Overall COL difference
Phoenix is 40% cheaper
1BR rent difference
+0% (B vs A)
$100K in A = in B
$60,000
Minneapolis vs Phoenix: Side-by-Side
1BR median rent
$1,380/mo
$1,380/mo
+0%
2BR median rent
$1,750/mo
$1,720/mo
-2%
Median home price
$320K
$415K
+30%
Avg monthly groceries
$360
$345
-4%
Avg monthly utilities
$155
$195
+26%
State income tax
Up to 9.85%
2.5%
Phoenix saves
Walk score
69/100
41/100
Minneapolis better
Transit score
55/100
29/100
Minneapolis better
Salary Equivalency Calculator
How much you need to earn in Phoenix to maintain the same standard of living as your current Minneapolis salary — and vice versa.
$60,000
$36,000
$100,000
$80,000
$48,000
$133,000
$100,000
$60,000
$166,000
$120,000
$72,000
$199,000
$150,000
$90,000
$249,000
Calculated using a weighted index: rent (40%), home prices (20%), groceries (20%), utilities (10%), state income tax (10%). Individual lifestyles vary.
Monthly Budget: Minneapolis vs Phoenix
Who Each City Is Best For
Minneapolis is best for
- ✓corporate professionals
- ✓healthcare workers
- ✓outdoor enthusiasts (winter sports)
- ✓arts and culture seekers
Phoenix is best for
- ✓remote workers
- ✓retirees
- ✓families on a budget
- ✓snowbirds
FAQs
Is Minneapolis or Phoenix cheaper to live in?
Phoenix is 40% cheaper than Minneapolis overall. Phoenix 1BR rent ($1,380/mo) vs Minneapolis ($1,380/mo). Median home price: Phoenix $415K vs Minneapolis $320K.
How much salary do I need in Phoenix to match $100K in Minneapolis?
$60,000 in Phoenix is equivalent to $100,000 in Minneapolis based on cost of living differences. The biggest factors are rent (+0% difference) and state taxes (Minneapolis: Up to 9.85% vs Phoenix: 2.5%).
What is the rent difference between Minneapolis and Phoenix?
1BR: Minneapolis $1,380/mo vs Phoenix $1,380/mo (+0%). 2BR: Minneapolis $1,750/mo vs Phoenix $1,720/mo (-2%).
Does Minneapolis or Phoenix have lower taxes?
Minneapolis (MN) has Up to 9.85% state income tax. Phoenix (AZ) has 2.5% state income tax. On a $100K salary, the annual tax difference is ~$7,350.