Minneapolis-St. Paul-Bloomington, MN vs Rochester, MN
A 2-bedroom in Rochester costs $302 less per month than Minneapolis-St. Paul-Bloomington ($1,407 vs $1,709). Median income is $98,180 in Minneapolis-St. Paul-Bloomington and $89,675 in Rochester. That's a difference of $3,624 per year in housing costs.
Side-by-Side Comparison
| Metric | Minneapolis-St. Paul-Bloomington | Rochester |
|---|---|---|
| Studio FMR | $1,242 | $1,112 |
| 1BR FMR | $1,405 | $1,189 |
| 2BR FMR | $1,709 | $1,407 |
| 3BR FMR | $2,262 | $1,957 |
| 4BR FMR | $2,531 | $2,360 |
| Median Income | $98,180 | $89,675 |
| Rent Burden | 20.9% | 18.8% |
| Actual Median Rent | $1,396 | $1,195 |
| Median Home Value | $354,400 | $284,600 |
| Population | 3.7M | 227K |
| Renter % | 29.1% | 25.7% |
| Vacancy Rate | 4.7% | 6.2% |
| Poverty Rate | 8.2% | 7.8% |
| YoY Change | +5.4% | +22.6% |
| Min Wage | $11.13/hr | $11.13/hr |
Income Required to Afford a 2-Bedroom
Frequently Asked Questions
Rochester, MN is more affordable with a 2BR FMR of $1,407/mo, which is $302 less than Minneapolis-St. Paul-Bloomington at $1,709/mo. However, when considering local incomes, Minneapolis-St. Paul-Bloomington has a rent burden of 20.9% vs 18.8% in Rochester.
A 2-bedroom in Minneapolis-St. Paul-Bloomington, MN costs $1,709/mo at Fair Market Rent, while in Rochester, MN it's $1,407/mo, a difference of $302/mo or $3,624/year.
To afford a 2BR without spending more than 30% of income on rent: Minneapolis-St. Paul-Bloomington requires $68,360/year ($33/hr). Rochester requires $56,280/year ($27/hr).