Quick answer
Overall prices in the Phoenix, AZ metro were 103.3 vs 104.8 in Minneapolis, MN in 2024 (US = 100), so Phoenix is 1.4% less expensive than Minneapolis; housing rents differ by 8% (121.2 vs 111.8). A $75,000 income in Phoenix buys about what $76,093 buys in Minneapolis, per BEA.
Data as of 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024
| Price index (US = 100) | Phoenix | Minneapolis | Phoenix vs Minneapolis |
|---|---|---|---|
| All items | 103.3 | 104.8 | -1.4% |
| Goods | 95.0 | 103.1 | -7.8% |
| Housing (rents) | 121.2 | 111.8 | +8.4% |
| Utilities | 93.3 | 93.5 | -0.2% |
| Other services | 104.0 | 104.4 | -0.4% |
| All items, 2008 | 105.7 | 102.9 | +2.7% |
| $50,000 in Phoenix equals in Minneapolis | $50,729 | ||
| $100,000 in Phoenix equals in Minneapolis | $101,458 | ||
| $150,000 in Phoenix equals in Minneapolis | $152,186 |
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Last updated 2026-10-16. Data only, not financial or tax advice.