$40K in Minneapolis = $34,717 in Albany
Your $40K salary in Minneapolis (COL 106) has the same purchasing power as $34,717 in Albany (COL 92). Albany is cheaper — your money goes 13% further there.
Budget breakdown — $40K in both cities
What $40K actually buys you in each city after taxes and core expenses.
| Expense | Minneapolis $40K | Albany $40K (same salary) |
|---|---|---|
| Monthly take-home | $2,398 | $2,498 |
| 1BR rent | $1,700 | $1,400 |
| Groceries | $391 | $380 |
| Transport | $95 | $68 |
| Utilities | $195 | $185 |
| Internet | $65 | $65 |
| Left after essentials | -$48/month | $400/month |
Frequently asked questions
What is $40K in Minneapolis equivalent to in Albany?
$40K in Minneapolis (COL index 106) has the same purchasing power as $34,717 in Albany (COL index 92). That's 13% less than your current salary.
If I move from Minneapolis to Albany keeping my $40K salary, will I be better off?
Yes. If you keep earning $40K after moving to Albany, you'd have $448 more per month after core expenses — because Albany is cheaper than Minneapolis.
How is the salary equivalent calculated?
The equivalent salary is calculated by multiplying your current salary by the ratio of the two cities' overall cost of living indices: $40K × (92 ÷ 106) = $34,717. This adjusts for differences in housing, food, transport, and general cost of living.
Other salary amounts — Minneapolis to Albany
Equivalency uses overall COL index ratio. Take-home uses simplified federal/state brackets. Zillow · BLS · Numbeo · Q1 2026 · For general guidance only