Salary Needed to Live in Minneapolis as a Family
A family of four (2 adults, 2 children) needs approximately $62,034/year to live comfortably in Minneapolis, MN — including 15% savings.
Comfortable Salary
$62,034
with 15% savings
Bare Minimum
$49,459
no savings buffer
Monthly Expenses
$3,050
4% above national avg
Detailed Monthly Budget for a Family in Minneapolis
| Expense | Minneapolis | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 3BR Apartment/House Rent | $260 | $209 | +24% |
| 🛒 Groceries | $50 | $44 | +14% |
| ⚡ Utilities | $27 | $28 | -4% |
| 🚗 Transportation | $45 | $44 | +2% |
| 🛡️ Car Insurance | $156 | $211 | -26% |
| 🏥 Health Insurance | $42 | $53 | -21% |
| Childcare/After-school | $1,272 | $1,200 | +6% |
| Internet + Phones | $191 | $180 | +6% |
| Children Activities | $265 | $250 | +6% |
| Dining Out | $371 | $350 | +6% |
| School Supplies & Clothing | $212 | $200 | +6% |
| Healthcare Co-pays | $159 | $150 | +6% |
| Total Monthly | $3,050 | $2,919 | +4% |
How We Calculated the Salary
Monthly expenses:$3,050
Target savings (15%):$675/mo
Monthly after-tax needed:$3,725
Effective tax rate:26%
Gross annual salary needed:$62,034
Other Household Types in Minneapolis
Related Pages
FAQ
What salary does a family with kids need in Minneapolis?
A family with kids needs approximately $62,034/year ($5,170/month gross) to live comfortably in Minneapolis with a 15% savings rate.
How much is rent for a family with kids in Minneapolis?
A 3br apartment/house in Minneapolis costs approximately $260/month, which is the largest single expense at 9% of the total budget.
Is Minneapolis affordable for a family with kids?
Minneapolis is roughly average for family with kids costs, requiring a salary close to the national median.