City comparison
Albany, NY vs Minneapolis, MN
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Minneapolis, MN are 5.3% higher than in Albany, NY. Someone earning $100,000 in Albany, NY would need about $105,300 in Minneapolis, MN to live the same way.
- Typical 1-bedroom rents are close: $1,417 a month in Albany, NY and $1,405 in Minneapolis, MN.
- On $100,000, estimated state income tax is about $417 a year higher in Minneapolis, MN than in Albany, NY.
- For federal employees, locality pay changes a GS-13 step 1 salary by +5.7% moving from Albany, NY to Minneapolis, MN ($109,810 → $116,038), while prices change by +5.3%. Net effect of the transfer: +0.4% in real buying power.
- Albany, NY: price level 99.6 (about average)
- Minneapolis, MN: price level 104.8 (pricier)
Map drawn from Census Bureau state boundaries and metro locations9,10; dot colours show BEA price levels2.
Side by side
| Albany, NY | Minneapolis, MN | |
|---|---|---|
| Price level (U.S. = 100)2 | 99.6 | 104.8 |
| $100,000 is worth, in the other city2 | $105,279 in Minneapolis | $94,986 in Albany |
| Typical 1-bedroom rent3 | $1,417/mo | $1,405/mo |
| Take-home on $100,00014,15,8 | $74,320 | $73,903 |
| State income tax on $100,000 (estimate)8 | $4,860 (NY) | $5,277 (MN) |
| Rent burden on $100,000 | 23% | 23% |
| Median pay, all jobs4 | $58,460 | $59,320 |
| Federal locality pay area7 | Albany-Schenectady, NY-MA | Minneapolis-St. Paul, MN-WI |
Rent areas: Albany-Schenectady-Troy, NY MSA and Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area. Metro areas: Albany-Schenectady-Troy, NY and Minneapolis-St. Paul-Bloomington, MN-WI.
What costs more or less
| Price level (U.S. = 100) | Albany | Minneapolis |
|---|---|---|
| Housing (rent) | 102.6 | 111.8 |
| Goods | 99.7 | 103.1 |
| Utilities | 134.0 | 93.5 |
| Other services | 97.8 | 104.4 |
| Overall | 99.6 | 104.8 |
Moving with the same $100,000 salary
Albany, NY → Minneapolis, MN
Same pay buys less
Buying power −5.0%; rent takes 23% of take-home; state tax +$417/yr.
53 Fair offer
Minneapolis, MN → Albany, NY
Same pay goes further
Buying power +5.3%; rent takes 23% of take-home; state tax −$417/yr.
85 Strong offer
On the GS pay scale?
Albany, NY is in the Albany-Schenectady, NY-MA pay area; Minneapolis, MN is in Minneapolis-St. Paul, MN-WI. The last column shows what a transfer from Albany, NY to Minneapolis, MN at the same grade and step does to real buying power.
| Grade5,2 | Albany, NY | Minneapolis, MN | Real change, Albany → Minneapolis |
|---|---|---|---|
| GS-9 step 1 | $63,678 | $67,290 | +0.4% |
| GS-11 step 1 | $77,045 | $81,415 | +0.4% |
| GS-12 step 1 | $92,344 | $97,582 | +0.4% |
| GS-13 step 1 | $109,810 | $116,038 | +0.4% |
| GS-14 step 1 | $129,763 | $137,123 | +0.4% |
Pay for common jobs
| Median annual pay4 | Albany, NY | Minneapolis, MN | Minneapolis pay in Albany dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $79,240 | $79,730 | $75,732 (−4.4%) |
| Software Developers | $127,910 | $130,920 | $124,355 (−2.8%) |
| Accountants and Auditors | $84,660 | $86,500 | $82,163 (−2.9%) |
| Registered Nurses | $99,970 | $103,040 | $97,873 (−2.1%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.