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You likely often hear how expensive it is to live in coastal cities, like New York and Washington, D.C. on the East Coast \u2014 or San Francisco and Los Angeles on the West Coast. But what about the cost of living in the Upper Midwest, where the Twin Cities are located, and how does that compare price-wise to those major cities on the coasts?<\/p>\n
Living in Minneapolis costs a little more than in St. Paul, its neighboring twin city. Therefore, financial data used here references pricing for Minneapolis, instead of St. Paul. According to U.S. Census Bureau<\/a> data, Minneapolis\u2019 2021 median per capita income, which is the average total income per person in the city, was just shy of $44,000. That figure may not seem high to some people, but in relation to living expenses in Minneapolis, that amount may go further than you might think.<\/p>\n It\u2019s clear that $44,000 goes a lot further living in Minneapolis or St. Paul compared to the major coastal cities above, but how about the cost of living in the Twin Cities versus other Upper Midwest metros \u2014 like Chicago, Detroit, Indianapolis, and Milwaukee \u2014 using that same $44,000 figure? Using Nerdwallet\u2019s calculator again, the results are less staggering, yet still enlightening:<\/p>\n As you can see, the cost of living in the Twin Cities is comparable to residing in Detroit or Milwaukee, but quite a bit less than living in Chicago and more than choosing Indianapolis. Overall, living in the Twin Cities, compared to other metro areas throughout the country, is affordable for many individuals and families.<\/p>\n Recent financial data aside, we all have different circumstances and want various things from our living situations. Many people choose living in cities for convenience. They want access to a robust jobs market, public transportation, and amenities that cannot be found in suburban or rural areas that will make them happy.<\/p>\n If you are strapped for cash, but want to live in the Twin Cities and have it be more affordable, there are steps you can take to mitigate your expenses to make your income stretch farther.<\/p>\n If budget and finances concern you, Real Estate Equities has a range of affordable housing options<\/a> to meet your cost of living needs in the Twin Cities. If you choose to rent but wonder how much you can afford versus your income, we offer a convenient Rent Calculator. <\/a><\/p>\n REE has a large portfolio of affordable apartments in Minneapolis, St. Paul, and the surrounding suburbs, providing you with additional options that are convenient and might meet your needs. We will work hard to find you exactly what you are looking for while keeping you within your budget.<\/p>\n<\/p><\/div>\n\n
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Save Money with Flexible Living Arrangements<\/h2>\n
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Lessen Your Cost of Living in the Twin Cities<\/h2>\n