How Much to Retire in Minneapolis, MN (2026)
Cost-of-living index 106 (US avg = 100). Comfortable retirement costs ~$55,120/yr · Nest egg target ~$1.4M.
Retirement spending tiers
National baselines adjusted for Minneapolis's COL index (106 vs 100 US average). Nest egg uses the 4% safe withdrawal rule (annual × 25).
Small apartment, cook at home, public transit, minimal travel
1BR apartment, dining out occasionally, one modest vacation/year
2BR home, regular dining out, two vacations/year, newer car
Owned home, frequent travel, generous entertainment budget
Upscale home, luxury travel, golf/clubs, full-time help
Monthly budget breakdown by tier
Estimated monthly allocation across spending categories
| Category | Modest | Comfortable | Premium | Affluent | Luxurious |
|---|---|---|---|---|---|
| Housing | $933 | $1,516 | $2,186 | $3,207 | $5,101 |
| Food | $424 | $689 | $994 | $1,458 | $2,319 |
| Healthcare | $396 | $643 | $928 | $1,360 | $2,164 |
| Transport | $339 | $551 | $795 | $1,166 | $1,855 |
| Leisure | $396 | $643 | $928 | $1,360 | $2,164 |
| Misc | $339 | $551 | $795 | $1,166 | $1,855 |
| Total / month | $2,827 | $4,593 | $6,625 | $9,717 | $15,458 |
Nest egg targets
How much you need saved to fund each lifestyle, using the 4% safe withdrawal rule
| Tier | Annual spend | Monthly spend | Nest egg (4% rule) |
|---|---|---|---|
| Modest | $33,920 | $2,827 | $848K |
| Comfortable | $55,120 | $4,593 | $1.4M |
| Premium | $79,500 | $6,625 | $2.0M |
| Affluent | $116,600 | $9,717 | $2.9M |
| Luxurious | $185,500 | $15,458 | $4.6M |
Minneapolis retirement context
Frequently asked questions
How much money do you need to retire in Minneapolis?
For a comfortable retirement in Minneapolis, plan on roughly $55,120/year ($4,593/month). That requires a nest egg of about $1.4M using the 4% safe withdrawal rule. A modest lifestyle costs ~$33,920/year, while a premium lifestyle runs ~$79,500/year.
Is Minneapolis a good place to retire?
Minneapolis has a cost of living close to the US average (index 106). Retirement budgets here are fairly typical — neither a bargain nor a budget-buster.
How is the retirement cost calculated for Minneapolis?
Each tier starts from a US national baseline and is scaled by Minneapolis's cost-of-living index (106 vs 100 US average). Nest egg targets use the 4% safe withdrawal rule (annual spend × 25). The budget allocation assumes roughly 33% housing, 15% food, 14% healthcare, 12% transport, 14% leisure, and 12% miscellaneous.
Deep-dive by tier
Spending estimates adjusted by BLS cost-of-living data · 4% safe withdrawal rule (Bengen 1994) · 2026 estimates · For general guidance only