How much rent can you afford in Minneapolis, MN?
Run your salary against Minneapolis's current rent, or find the income you'd need for a target rent. Powered by live RentDataNow medians.
The 30% rent rule, in Minneapolis
At a median rent of $1,676/mo, Minneapolis is affordable when measured against Minneapolis median household income of $80,846/yr. Rent would consume roughly 25% of pre-tax income, and a salary of about $67,040 keeps rent at the recommended 30% threshold.
How Minneapolis compares nearby
Median rent for the closest cities with data.
Frequently asked
How much rent can I afford in Minneapolis?
On a $80,846 salary (the Minneapolis median household income), the recommended ceiling is 30% of pre-tax income, or about $2,021/mo. Minneapolis's median rent is $1,676/mo. Use the calculator on this page to run your own salary.
What salary do I need to live in Minneapolis?
To keep Minneapolis's $1,676/mo median rent under 30% of income, you'd need about $67,040/yr. Lower your target share (e.g. 25%) to need more, or raise it (e.g. 40%) to need less.
Is Minneapolis affordable on the median Minnesota income?
Minneapolis is affordable on a $80,846 income. Rent would take 25% of pre-tax pay, inside the recommended 30% threshold.
What's the 30% rent rule?
The 30% rule is a long-standing budgeting guideline that keeps rent at or below 30% of gross (pre-tax) income. It leaves enough room for utilities, transit, savings, and debt service. In high-cost markets, many renters exceed 30%, and the Census Bureau classifies households paying more than 30% of income on rent as "cost-burdened".