MinneapolisMoney Index August 2026
"Midwest math, modern minds."
Minneapolis — Money Index — Key Facts
- 15% Savings Rate. Minneapolis households save about 15% of income — well above the ~8% US average. Quiet wealth, compounding fast.
- Financial Stress: 50/100. Money stress in Minneapolis sits at 50/100 — calmer than most big US cities.
- 50% Own Their Home. Only 50% of Minneapolis households own — well below the US average of ~65%. Most residents are still renting.
- Ranked #2 of 50. Minneapolis ranks #2 of 50 on the PickYourBank US City Money Index — a blend of savings rate, income, affordability, happiness and work-life balance.
- 23-Minute Commute. Minneapolis's one-way commute is just 23 minutes — 4 minutes shorter than the US average. That's ~176 hours a year behind the wheel instead of ~207.
- 15% of Land Is Parks. Roughly 15% of Minneapolis's land is parkland — about the big-city median.
- Work-Life Balance: 65/100. Minneapolis scores 65/100 on work-life balance — one of the more livable big US metros.
- Cost of Living: 108. Minneapolis's cost of living sits at 108 — basically the US baseline (100 = US average).
- Median Household: $75k. Minneapolis households earn about $75k — right around the US median.
- Happiness Score: 73/100. Residents rate life in Minneapolis a 73/100 — one of the happiest big metros in the country.
Minneapolis has one of the highest financial literacy rates among major US metros — and it shows in savings.
With a median household income of ~$75k, a 15% savings rate, and a cost-of-living index of 108, Minneapolis ranks #2 of 50 US cities in our overall money index.
Green space & commute
Two underrated money levers: how long you spend getting to work, and how much nature you can reach without paying for it.
About 15% of Minneapolis's land is parkland — roughly in line with the typical big US city.
- • Source: Trust for Public Land ParkScore
- • Parks lower stress and lift nearby property values
- • Free recreation = zero-cost lifestyle upgrade
Minneapolis's average commute (~23 min one-way) is close to the US average of ~27 minutes.
- • Source: US Census ACS mean one-way travel time
- • Owning a car runs ~$10k/year on average in the US
- • 10 fewer commute minutes/day ≈ 80 hours back per year
Typical Minneapolis household budget
Modeled split of $100 of after-tax income, scaled to Minneapolis's cost of living and savings rate.
How Minneapolis feels about money
Four Minneapolis money truths
Minneapolis's savings rate runs 15% — automate even one extra percentage point and you compound serious money over a decade.
Minneapolis runs above the US average, so price discipline matters more here than in most metros.
Owning unlocks fixed housing costs and equity. Renters here can still build wealth — just channel the difference into index funds and a high-yield savings account.
Minnesota residents in Minneapolis report a 73/100 happiness score with stress at 50/100 — money habits and lifestyle here track that mix closely.
"Minneapolis has one of the highest 401(k) participation rates in the country."
Money lessons from Minneapolis
- 1
Financial literacy compounds
- 2
Pre-tax accounts first, always
- 3
Live close to work — kill the commute
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Minneapolis money FAQ
Is Minneapolis, Minnesota a good city for saving money?+
Minneapolis households save about 15% of income, with a happiness score of 73/100 and a work-life balance score of 65/100. Minneapolis has one of the highest financial literacy rates among major US metros — and it shows in savings.
What is the median household income in Minneapolis?+
The median household income in Minneapolis, Minnesota is roughly $75,000 per year. About 60% of households have a 3-month emergency fund.
How affordable is Minneapolis?+
Minneapolis's cost of living index sits at 108 (100 = US average). Homeownership stands at 50%.
How long is the average commute in Minneapolis?+
Minneapolis's average commute (~23 min one-way) is close to the US average of ~27 minutes.
How much urban green space does Minneapolis have?+
About 15% of Minneapolis's land is parkland — roughly in line with the typical big US city.
What money personality fits Minneapolis?+
The Pragmatist — Driven by math, not hype.
What's surprising about money in Minneapolis?+
Minneapolis has one of the highest 401(k) participation rates in the country.
