Is Miami, FL or Minneapolis, MN cheaper on a $120,000 salary?

Miami, FL leaves you more: $5,328/yr. On $120,000, Miami, FL leaves $66,639/yr in pocket (state tax $0, housing $23,781) vs Minneapolis, MN's $61,311 (state tax $9,420, housing $19,689).

The gap is driven mostly by state income tax (Florida: 0% vs Minnesota: 7.85%) and housing.

WhereCanIAfford › Take-home › Miami, FL vs Minneapolis, MN

Miami, FL vs Minneapolis, MN: cost of living on $120,000

Miami, FL +$5,328/yr On $120,000, Miami, FL leaves $66,639/yr in pocket vs Minneapolis, MN's $61,311 — after state income tax and housing.

Where the money goes

On $120,000	Miami, FL	Minneapolis, MN
Federal + FICA (est.)	$29,580	$29,580
State income tax	$0 (0%)	$9,420 (7.85%)
After-tax income	$90,420	$81,000
− Housing/yr (Zillow)	$23,781	$19,689
Real money in pocket	$66,639	$61,311

Verified 2026-06-23 · State tax: Tax Foundation, “State Individual Income Tax Rates and Brackets, 2025” + state revenue departments. Modeled as an effective planning rate for a typical $80k–$160k filer — not a full bracket engine. · Housing from Zillow ZHVI 2026-05.

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FAQ

Is Miami, FL or Minneapolis, MN cheaper?: On $120,000, Miami, FL — by $5,328/yr in real take-home.
What's the biggest driver?: State income tax (Florida 0% vs Minnesota 7.85%) and housing cost.

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