Cost of Living in Minneapolis, KS

With a cost of living index of 60, Minneapolis, KS is one of the most affordable cities in the country. Living here is 40% cheaper than the national average and 12% below the Kansas state average of 72. Minneapolis is a small community of 2,101 residents.

Housing costs are the biggest factor in Minneapolis's cost of living. The median monthly rent is $592 (55% below the US median of $1,319), and the median home value sits at $133,100 (56% below the national median of $304,900). At current prices, the median home costs roughly 2x the median household income — well within traditional affordability guidelines.

The median household income in Minneapolis is $65,694, which is 13% lower than the national median of $75,149. Residents spend roughly 11% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Minneapolis. The area sees an average annual temperature of 55.8°F, with summers averaging 79°F and winters around 33°F. Annual rainfall totals 29.7 inches spread over roughly 89 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.