On average, the cost of living in Minneapolis is around $1,658 per month.1 Depending on your home size, location, and other variables, this number can change. This monthly average places Minneapolis at number 35 on our list of most expensive US cities. While it’s far from the cheapest city in terms of cost of living, it‘s a significantly cheaper place to live than some similar-sized cities such as Miami, Florida ($1,835 per month), and Oakland, California ($2,416 per month).