Moving to Minnesota: What You Need to Know
Minnesota is home to 16 Fortune 500 companies -- the most per capita of any state -- including UnitedHealth Group, Target, 3M, and Best Buy. The Twin Cities metro consistently ranks among the best places to live in America for quality of life, schools, and employment opportunities. The tradeoff is clear: Minnesota has some of the highest taxes in the nation and brutally cold winters. But for those willing to embrace both, the state offers median home prices around $325,000, a vibrant cultural scene, and access to over 10,000 lakes.
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Cost of Living in Minnesota
Median Home Price
$325,000
Median Monthly Rent
$1,250/mo
Avg Local Move
$980
Avg Long-Distance Move
$4,200
Taxes in Minnesota
| Tax Type | Rate |
|---|---|
| State Income Tax | 5.35%–9.85% (progressive) |
| Effective Property Tax | 1.08% |
| State Sales Tax | 6.875% + local up to 2% |
Job Market & Economy
Minnesota Climate & Weather
Extremely cold winters with temperatures regularly dropping below zero. Warm summers in the 70s–80s°F. Known for dramatic seasonal swings. Heavy snowfall from November through March.
Best Cities to Move to in Minnesota
Pros and Cons of Living in Minnesota
Pros
- +Excellent quality of life with top-ranked schools and healthcare
- +Strong and diverse job market with many Fortune 500 companies
- +Beautiful summers with 10,000+ lakes for recreation
- +Vibrant arts, music, and food scene in the Twin Cities
Cons
- -Among the highest income tax rates in the nation at 9.85% top rate
- -Brutally cold winters with sub-zero temperatures
- -Higher overall tax burden when combining income, property, and sales taxes
- -Limited racial and ethnic diversity outside the Twin Cities
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Frequently Asked Questions
How much does it cost to move to Minnesota?
A local move within the Twin Cities averages $900–$1,400. Moving from neighboring Midwest states costs $1,000–$3,000. Cross-country moves to Minnesota typically run $3,500–$6,500 for a 3-bedroom home.
How cold does Minnesota actually get?
Minnesota winters are among the coldest in the lower 48. Minneapolis averages highs of 23°F and lows of 7°F in January, with wind chill regularly reaching -20°F to -40°F. The state averages 54 inches of snow per year. Most buildings and cars are well-equipped for the cold, and the Minneapolis skyway system (11 miles of enclosed walkways) lets you navigate downtown without going outside.
What is the job market like in Minnesota?
Minnesota has one of the strongest job markets in the Midwest with low unemployment. Major employers include UnitedHealth Group, Target, 3M, Medtronic, Best Buy, General Mills, and the Mayo Clinic (Rochester). The state leads in healthcare, medical devices, and financial services. The Twin Cities tech sector is growing with companies like Optum and C.H. Robinson.
What are the best suburbs of Minneapolis?
Edina is the most prestigious suburb with excellent schools and upscale shopping. Plymouth and Maple Grove offer family-friendly living on the west side. Eagan and Woodbury are popular on the east side with newer developments. Wayzata and Excelsior provide lakeside living on Lake Minnetonka. Rochester (home of Mayo Clinic) is a strong option for healthcare professionals.
Are Minnesota taxes really that high?
Yes, Minnesota has one of the highest overall tax burdens in the nation. The top income tax rate is 9.85% (which kicks in at $183,340 for single filers). Property taxes average 1.08%, and sales tax is 6.875% plus local additions. However, Minnesotans get strong returns in excellent schools, healthcare, infrastructure, and public services. The state has no tax on clothing or groceries.