City profile
Minneapolis, MN
City of lakes with superb parks, theater and healthcare, plus a growing East African community.
Climate
Climate type
Four seasons
Winter avg
16°F
Summer avg
73°F
Sunny days / yr
195
Home prices & cost of living
Median home price
$330,000
Typical monthly housing
$2,224
Cost of living (100 = U.S.)
106
Taxes
- Property tax
- 1.05%
- State income tax (top)
- 9.85%
- Social Security
- Taxed (with exemptions)
- Pensions
- Partly exempt
- Sales tax (state + avg. local)
- 8.04%
FEMA natural hazard risk
Relatively High · county score 98/100
Top hazards: Cold wave, Tornado, Hail
Nearest major airport
7 mi to Minneapolis–Saint Paul International Airport / Wold–Chamberlain Field (MSP)
Political lean (2024 county vote)
Leans Democratic · 70% Democratic / 28% Republican
Demographics (Census ACS)
Population (2024)
427,246
Growth since 2019
+1.6%
Median age
33.4
Residents 65+
11.3%
Median household income
$80,846
Income growth since 2019
+29.2%
Black household income
$41,839
Home ownership
47.7%
Poverty rate
16.0%
Poverty rate, 65+
14.6%
Race & ethnicity: Black 18.5% · White 58.8% · Hispanic 10.1% · Asian 5.3% · Other 7.3%
Crime (per 100,000 residents, 2025)
Violent crime
1,005 · 205% above the national average
Property crime
4,520 · 191% above the national average
Source: FBI Crime Data Explorer, Minneapolis Police Department. State average: violent 226, property 1,430.
2025–2026 trends
2026 market trends
- ▸Home insurance premiums are rising quickly here
- ▸Home prices are still rising in 2026 — good for long-term value, less room to negotiate
- ▸Climate/cost risks to check: hail, extreme cold
Highlights
- Chain of Lakes parks
- Top theater scene
- Excellent healthcare
Trade-offs
- Very cold winters
- Insurance rising from hail
Figures are estimates from public sources (see How we match). Verify before making decisions.