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Minneapolis, Minnesota Retirement Guide
established retirement community
38
Retirement Score
Minneapolis, Minnesota at a Glance
- Median Home Price
- $347,300
- State Income Tax
- State income tax; Social Security and retirement income have income-based partial exemptions.
- Avg January Low
- 4°F
- Cost of Living Index
- 97.5 (US avg = 100)
- Best For
- established retirement community
- RetireCityIQ Score
- 38 / 100
Retirement Data
Affordability
Cost of Living Index
97.5 (U.S. avg = 100)Medium confidence
BEA Regional Price Parities · Updated March 2026
Median Home Price
$347,300High confidence
U.S. Census ACS 1-Year · Updated April 2026
Median Monthly Rent
$1,265High confidence
U.S. Census ACS 1-Year · Updated April 2026
Taxes
Retirement Tax Score
30 / 100Medium confidence
Tax Foundation · Updated March 2026
Tax Details
State income tax; Social Security and retirement income have income-based partial exemptions.Medium confidence
Tax Foundation · Updated March 2026
Retiree Readiness (Sprint 2)
Care Access Score (proxy)
13.8 / 100High confidence
RetireCityIQ proxy model · Updated April 2026
Aging-in-Place Score (proxy)
52 / 100High confidence
RetireCityIQ proxy model · Updated April 2026
Healthcare
Healthcare Access Score
13.8 / 100Medium confidence
CMS Hospital General Information · Updated March 2026
Climate
Avg July High
83°FMedium confidence
NOAA Climate Normals 1991-2020 · Updated March 2026
Avg January Low
4°FMedium confidence
NOAA Climate Normals 1991-2020 · Updated March 2026
Annual Precipitation
29"Medium confidence
NOAA Climate Normals 1991-2020 · Updated March 2026
Sunny Days / Year
197 daysMedium confidence
NOAA Climate Normals 1991-2020 · Updated March 2026
Safety
Safety Score
47 / 100Medium confidence
FBI Crime Data Explorer · Updated March 2026
Walkability
Walk Score (proxy)
64 / 100Medium confidence
U.S. Census ACS 5-Year (B08301) · Updated March 2026
Transit Score (proxy)
29.5 / 100Medium confidence
U.S. Census ACS 5-Year (B08301) · Updated March 2026
Demographics
Population
426,877High confidence
U.S. Census ACS 5-Year · Updated April 2026
Median Age
32.8High confidence
U.S. Census ACS 5-Year · Updated April 2026
Age 65+
10.7%High confidence
U.S. Census ACS 5-Year · Updated April 2026
Median Household Income
$76,332High confidence
U.S. Census ACS 5-Year · Updated April 2026
Community Profile
Owner-Occupied Housing
48.1%High confidence
U.S. Census ACS 5-Year · Updated April 2026
Veterans
3.5%High confidence
U.S. Census ACS 5-Year · Updated April 2026
Bachelor's Degree+
53.5%High confidence
U.S. Census ACS 5-Year · Updated April 2026
Poverty Rate
16.8%High confidence
U.S. Census ACS 5-Year · Updated April 2026
Diversity
White
62.7%High confidence
U.S. Census ACS 5-Year · Updated April 2026
Black
18.5%High confidence
U.S. Census ACS 5-Year · Updated April 2026
Hispanic/Latino
9.9%High confidence
U.S. Census ACS 5-Year · Updated April 2026
Asian
5.2%High confidence
U.S. Census ACS 5-Year · Updated April 2026
10-Year Housing Stress Test (Estimate)
Estimate monthly homeowner carrying cost in Minneapolis using median home price and adjustable assumptions. Stress case applies +10% property tax, +20% insurance, +10% maintenance.
Estimated monthly carrying cost
$752
Stress-case monthly carrying cost
$845
Median home price used: $347,300
Median rent reference: $1,265 / month
Estimate includes property tax, insurance, maintenance reserve, and HOA. It excludes mortgage, utilities, and one-time transaction costs.