Discretionary Income in Minneapolis, MN in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Minneapolis, MN is ranked 242nd out of the top 333 most populated cities in the U.S. for having the highest discretionary income. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Minneapolis, MN
Gross Salary
$8,333
Taxes
$1,719
Cost of Living
$4,082
Discretionary Income
$2,533
With a gross annual salary of $100,000 in Minneapolis, MN, you would need to deduct approximately $1,719 per month for taxes. Given that the average cost of living in Minneapolis is $4,082, you would have around $2,533 remaining in your pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Minneapolis, MN, regardless of household composition or number of income earners.
Salary and Discretionary Income Per Gross Salary Level in Minneapolis, MN in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Minneapolis, MN |
|---|---|
| $30,000 | -$1,850 |
| $40,000 | -$1,172 |
| $50,000 | -$497 |
| $60,000 | $166 |
| $70,000 | $758 |
| $80,000 | $1,350 |
| $90,000 | $1,941 |
| $100,000 | $2,533 |
| $110,000 | $3,118 |
| $120,000 | $3,685 |
| $130,000 | $4,252 |
| $140,000 | $4,818 |
| $150,000 | $5,385 |
| $175,000 | $6,802 |
| $200,000 | $8,180 |
| $250,000 | $10,585 |
| $300,000 | $12,876 |
| $350,000 | $15,168 |
| $400,000 | $17,460 |
| $450,000 | $19,751 |
| $500,000 | $22,043 |
Discretionary Income in Minneapolis, MN in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Minneapolis, MN is ranked 243rd out of the top 333 most populated cities in the U.S. for having the highest discretionary income for singles. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Minneapolis, MN
Gross Salary
$8,333
Taxes
$1,719
Cost of Living
$2,699
Discretionary Income
$3,916
With a gross annual salary of $100,000 in Minneapolis, MN, a single person would need to deduct approximately $1,719 per month for taxes. Considering the average cost of living in Minneapolis is $2,699, singles would have around $3,916 remaining in their pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Minneapolis, MN, assuming that the gross salary is earned by a single person.
Salary and Discretionary Income Per Gross Salary Level in Minneapolis, MN in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Minneapolis, MN |
|---|---|
| $30,000 | -$467 |
| $40,000 | $211 |
| $50,000 | $886 |
| $60,000 | $1,549 |
| $70,000 | $2,141 |
| $80,000 | $2,732 |
| $90,000 | $3,324 |
| $100,000 | $3,916 |
| $110,000 | $4,501 |
| $120,000 | $5,068 |
| $130,000 | $5,635 |
| $140,000 | $6,201 |
| $150,000 | $6,768 |
| $175,000 | $8,185 |
| $200,000 | $9,563 |
| $250,000 | $11,967 |
| $300,000 | $14,259 |
| $350,000 | $16,551 |
| $400,000 | $18,842 |
| $450,000 | $21,134 |
| $500,000 | $23,426 |
Discretionary Income in Minneapolis, MN in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Minneapolis, MN is ranked 239th out of the top 333 most populated cities in the U.S. for having the highest discretionary income for couples. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Minneapolis, MN
Gross Salary
$8,333
Taxes
$1,719
Cost of Living
$4,027
Discretionary Income
$2,587
With a gross annual salary of $100,000 in Minneapolis, MN, a couple would need to deduct approximately $1,719 per month for taxes. Considering the average cost of living in Minneapolis is $4,027, couples would have around $2,587 remaining in their pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Minneapolis, MN, assuming that the gross salary is earned by a couple.
Salary and Discretionary Income Per Gross Salary Level in Minneapolis, MN in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Minneapolis, MN |
|---|---|
| $30,000 | -$1,795 |
| $40,000 | -$1,118 |
| $50,000 | -$443 |
| $60,000 | $220 |
| $70,000 | $812 |
| $80,000 | $1,404 |
| $90,000 | $1,995 |
| $100,000 | $2,587 |
| $110,000 | $3,173 |
| $120,000 | $3,739 |
| $130,000 | $4,306 |
| $140,000 | $4,873 |
| $150,000 | $5,439 |
| $175,000 | $6,856 |
| $200,000 | $8,234 |
| $250,000 | $10,639 |
| $300,000 | $12,930 |
| $350,000 | $15,222 |
| $400,000 | $17,448 |
| $450,000 | $19,657 |
| $500,000 | $21,865 |
Discretionary Income in Minneapolis, MN in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Minneapolis, MN is ranked 242nd out of the top 333 most populated cities in the U.S. for having the highest discretionary income for single parents. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Minneapolis, MN
Gross Salary
$8,333
Taxes
$1,458
Cost of Living
$3,989
Discretionary Income
$2,887
With a gross annual salary of $100,000 in Minneapolis, MN, a single parent would need to deduct approximately $1,458 per month for taxes. Considering the average cost of living in Minneapolis is $3,989, single parents would have around $2,887 remaining in their pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Minneapolis, MN, assuming that the gross salary is earned by a single parent.
Salary and Discretionary Income Per Gross Salary Level in Minneapolis, MN in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Minneapolis, MN |
|---|---|
| $30,000 | -$1,690 |
| $40,000 | -$1,002 |
| $50,000 | -$327 |
| $60,000 | $348 |
| $70,000 | $1,023 |
| $80,000 | $1,698 |
| $90,000 | $2,295 |
| $100,000 | $2,887 |
| $110,000 | $3,474 |
| $120,000 | $4,051 |
| $130,000 | $4,617 |
| $140,000 | $5,184 |
| $150,000 | $5,751 |
| $175,000 | $7,167 |
| $200,000 | $8,573 |
| $250,000 | $11,009 |
| $300,000 | $13,306 |
| $350,000 | $15,597 |
| $400,000 | $17,889 |
| $450,000 | $20,181 |
| $500,000 | $22,472 |
Discretionary Income in Minneapolis, MN in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Minneapolis, MN is ranked 252nd out of the top 333 most populated cities in the U.S. for having the highest discretionary income for families. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Minneapolis, MN
Gross Salary
$8,333
Taxes
$1,192
Cost of Living
$5,612
Discretionary Income
$1,529
With a gross annual salary of $100,000 in Minneapolis, MN, a family would need to deduct approximately $1,192 per month for taxes. Considering the average cost of living in Minneapolis is $5,612, families would have around $1,529 remaining in their pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Minneapolis, MN, assuming that the gross salary is earned by the family head(s).
Salary and Discretionary Income Per Gross Salary Level in Minneapolis, MN in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Minneapolis, MN |
|---|---|
| $30,000 | -$3,256 |
| $40,000 | -$2,547 |
| $50,000 | -$1,846 |
| $60,000 | -$1,171 |
| $70,000 | -$496 |
| $80,000 | $179 |
| $90,000 | $854 |
| $100,000 | $1,529 |
| $110,000 | $2,204 |
| $120,000 | $2,856 |
| $130,000 | $3,447 |
| $140,000 | $4,039 |
| $150,000 | $4,631 |
| $175,000 | $6,110 |
| $200,000 | $7,576 |
| $250,000 | $10,440 |
| $300,000 | $13,273 |
| $350,000 | $16,059 |
| $400,000 | $18,755 |
| $450,000 | $21,171 |
| $500,000 | $23,564 |
The assessments presented on this website, including those related to crime, safety, cost of living, and other location characteristics (e.g., states, cities, towns, villages, neighborhoods, areas, landmarks), are based on various sources and our internal research methods. These assessments are not guaranteed to be accurate or complete and should not be used as the sole basis for making any decisions.