At a glance
New York is 7.4% more expensive than Minneapolis on BEA’s overall price index, and median rent is $390 a month higher in New York.
Price parity is 112.6 in New York and 104.8 in Minneapolis (U.S. = 100); median gross rent is $1,830 and $1,440 a month.
Price index and rent come from different surveys and describe metro averages; neither predicts a household’s own costs.
Sources: BLS wages (May 2025) · BEA price parity (2024) · Census ACS (2020–2024) · metro areas, not city limits · How we calculate
Cost of living: New York vs. Minneapolis
Using 2024 BEA regional price parities, New York has an all-items metro price level about 7.4% higher than Minneapolis relative to the same national benchmark. This is a ratio of broad price indexes, not a forecast of what a specific household would spend. New York has a $390 higher reported monthly metro-wide median gross rent than Minneapolis. The two measures point in the same direction for these metros, but they cover different baskets and populations.
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| Official metro indicator | New York | Minneapolis |
|---|---|---|
| BEA 2024 all-items price parity | 112.6 | 104.8 |
| ACS 2020–2024 median gross rent / month | $1,830 | $1,440 |
| ACS gross-rent margin of error | ± $5 | ± $9 |
| ACS median household income (± MOE) | $99,155 ± $487 | $99,833 ± $641 |
| ACS 45+ minute commute share | 32.4% | 10.8% |
These figures cover the New York-Newark-Jersey City, NY-NJ and Minneapolis-St. Paul-Bloomington, MN-WI metropolitan areas, not the named cities alone. ACS gross rent includes estimated utilities and is not an asking rent; sampling uncertainty means small gaps may not be meaningful.
What a salary in New York is worth in Minneapolis
BEA’s 2024 all-items parity is 112.6 for New York and 104.8 for Minneapolis, so matching on that index takes about 6.9% less gross pay in Minneapolis than in New York. Twelve months of median gross rent is 22.1% of median household income in New York and 17.3% in Minneapolis (renter rent over all-household income, so a rough contrast rather than a budget).
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| Gross pay in New York | Same index value in Minneapolis | Gross pay in Minneapolis | Same index value in New York |
|---|---|---|---|
| $50,000 | $46,561 | $50,000 | $53,692 |
| $75,000 | $69,842 | $75,000 | $80,539 |
| $100,000 | $93,123 | $100,000 | $107,385 |
| $150,000 | $139,684 | $150,000 | $161,077 |
| $200,000 | $186,246 | $200,000 | $214,770 |
Equal index value is not equal take-home pay: taxes, benefits and housing choices differ.
Median gross rents differ by $390 a month ($4,680 over twelve months). That gap is already part of the price index, so do not subtract it again; use real quotes in the worksheet.
How do salaries differ between New York and Minneapolis?
79 of 80 curated occupations have a reported annual median wage in both metros. The 12 examples below are the most common jobs in the smaller metro, not the highest- or lowest-paid.
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| BLS occupation | New York median | Minneapolis median | New York adjusted | Minneapolis adjusted |
|---|---|---|---|---|
| Retail Salespersons | $38,280 | $36,670 | $34,008 | $34,983 |
| General and Operations Managers | $157,000 | $103,570 | $139,477 | $98,806 |
| Registered Nurses | $119,720 | $103,040 | $106,358 | $98,300 |
| Customer Service Representatives | $49,590 | $49,480 | $44,055 | $47,204 |
| Laborers and Freight, Stock, and Material Movers, Hand | $43,290 | $47,320 | $38,458 | $45,143 |
| Office Clerks, General | $47,670 | $48,790 | $42,350 | $46,546 |
| Software Developers | $166,830 | $130,920 | $148,210 | $124,897 |
| Accountants and Auditors | $105,650 | $86,500 | $93,859 | $82,521 |
| Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products | $81,140 | $78,470 | $72,084 | $74,860 |
| Heavy and Tractor-Trailer Truck Drivers | $65,040 | $64,200 | $57,781 | $61,247 |
| Secretaries and Administrative Assistants, Except Legal, Medical, and Executive | $51,440 | $54,080 | $45,699 | $51,592 |
| Maintenance and Repair Workers, General | $59,550 | $60,470 | $52,904 | $57,688 |
The price-adjusted wage equals the BLS May 2025 annual occupational median × 100 ÷ the BEA 2024 all-items regional price parity. Census rent, household income and commuting figures are ACS 2020–2024 five-year estimates. They describe different populations and do not determine take-home pay, employment prospects or individual rent. ACS gross rent includes contract rent plus estimated utility and fuel costs.
What changes after adjusting wages for regional prices?
Among the 12 displayed, matched BLS occupations, 4 have a different leading metro for nominal versus price-adjusted median wages, and 8 keep the same leader. Adjusted values divide each median by the metro’s BEA parity; they are not tax-adjusted.
Where the price-adjusted gap is largest
Across the 79 occupations with a reported median in both metros, New York has the higher price-adjusted median in 43 and Minneapolis in 36. For the typical occupation (the median of the occupation-by-occupation differences), the adjusted median in New York is 1.1% higher than in Minneapolis.
The table lists the eight occupations with the largest percentage differences, in either direction. A large gap can reflect a small local employer base, so check the career page before drawing conclusions.
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| BLS occupation | New York adjusted | Minneapolis adjusted | Higher in | Difference |
|---|---|---|---|---|
| Personal Financial Advisors | $151,071 | $98,653 | New York | 53.1% |
| Middle School Teachers, Except Special and Career/Technical Education | $85,730 | $59,911 | New York | 43.1% |
| General and Operations Managers | $139,477 | $98,806 | New York | 41.2% |
| Plumbers, Pipefitters, and Steamfitters | $69,836 | $96,955 | Minneapolis | 38.8% |
| Web and Digital Interface Designers | $105,887 | $77,970 | New York | 35.8% |
| Sales Managers | $191,137 | $150,827 | New York | 26.7% |
| Financial Managers | $196,343 | $158,001 | New York | 24.3% |
| Medical and Health Services Managers | $148,877 | $121,043 | New York | 23.0% |
Difference is the gap relative to the lower of the two adjusted medians.
Which jobs are more common in New York or Minneapolis
Raw employment counts mostly track metro size. To compare, this table divides BLS estimated employment by ACS commuting workers (jobs per 10,000 commuters). Of the 73 occupations with at least 1,000 estimated workers in both metros, these are the most over-represented in each.
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| BLS occupation | New York per 10,000 | Minneapolis per 10,000 | More common in | Ratio |
|---|---|---|---|---|
| Healthcare Social Workers | 21.8 | 10.6 | New York | 2.1× |
| Police and Sheriff's Patrol Officers | 68.7 | 36.1 | New York | 1.9× |
| Lawyers | 119.7 | 65.8 | New York | 1.8× |
| Machinists | 5.4 | 61.0 | Minneapolis | 11.2× |
| Industrial Engineers | 10.8 | 90.5 | Minneapolis | 8.4× |
| Welders, Cutters, Solderers, and Brazers | 7.3 | 29.8 | Minneapolis | 4.1× |
A rough size scaling, not a formal location quotient. Employment estimates are not job openings.
Investigate a specific career before deciding
Open the dashboard with a role and both metros already selected. Amounts you enter stay in your browser.
Moving between New York and Minneapolis: what should you check?
The checklist works in either direction. Get written offers and current rent quotes for the neighborhoods you would consider; metro medians are not listings. The full offer checklist covers taxes, benefits and one-time costs.