Minneapolis vs Salt Lake City: cost of living compared
Salt Lake City is about the same as Minneapolis overall. State income tax tops out around 4.65% in UT vs 7.05% in MN.
Indexes use a US average of 100: below 100 is cheaper than the national average. Housing and transportation are derived from median home prices, rents and commute times; figures come from BLS, Census ACS, Numbeo and the MIT Living Wage Calculator.
The big picture
Comparing Minneapolis and Salt Lake City reveals an overall cost of living that is roughly similar, both slightly above the national average. However, the underlying expenses driving these totals differ significantly. Housing costs are a major differentiator, being substantially higher in Salt Lake City. Conversely, Minneapolis tends to have higher costs for utilities, healthcare, and food, while transportation and miscellaneous expenses are more affordable in Salt Lake City.
Housing
Housing presents a noticeable gap between these two cities. Buying a home in Salt Lake City is considerably more expensive, with median prices significantly higher than in Minneapolis. Rent for a typical one-bedroom apartment also shows Salt Lake City as slightly pricier. Minneapolis generally features a mix of older, established housing stock and newer developments, while Salt Lake City has seen rapid growth, contributing to its elevated housing costs.
Taxes and everyday costs
Daily expenses vary, with Salt Lake City offering more affordable transportation, food, healthcare, and utilities compared to Minneapolis. However, Minnesota's state income tax rate is noticeably higher than Utah's, which could impact take-home pay. Commute times are quite comparable, suggesting similar daily travel patterns. These differences mean that while some daily costs are lower in Salt Lake City, the income tax structure in Minneapolis could offset some of those savings.
Lifestyle trade-offs
Minneapolis is known for its distinct four seasons, including cold, snowy winters, and a vibrant urban core with extensive park systems and lakes. It offers a more established public transit network. Salt Lake City, nestled against the Wasatch Mountains, experiences a drier climate with significant snowfall in winter, ideal for outdoor activities. It generally feels less dense than Minneapolis, with a focus on car-centric commuting, though public transit options exist.
Bottom line
For households considering a move, the primary financial impact will likely stem from housing costs, which are substantially higher in Salt Lake City. While Salt Lake City offers savings on everyday expenses like transportation and utilities, and a lower state income tax, these may not fully compensate for the significant difference in home prices or rent. Minneapolis, despite higher taxes and some daily costs, provides more affordable housing options.
| Measure | Minneapolis, MN | Salt Lake City, UT |
|---|---|---|
| Overall cost of living (US avg = 100) | 108 | 108 |
| Housing index | 94 | 127 |
| Transportation index | 98 | 89 |
| Food index | 102 | 98 |
| Healthcare index | 105 | 98 |
| Utilities index | 108 | 95 |
| Misc index | 98 | 95 |
| Median home price | $328,000 | $498,000 |
| Median 1-bedroom rent | $1,450/mo | $1,550/mo |
| Average commute | 27 min | 24 min |
Compare any two metros with the free cost of living tool, or see the true monthly cost of a specific Salt Lake City home with the True Cost Calculator.