WhereCanIAfford › Minneapolis, MN › On $425,000

Is Minneapolis, MN affordable on a $425,000 salary?

YES On $425,000/yr, the typical $395,726 home in Minneapolis, MN needs $118,885/yr ($2,774/mo). Your gap: +$306,115 — housing would be 7.8% of your gross income.

The math

395,726 price − 10% down (39,573) = 356,153 loan
30-yr fixed at 6.69% on 356,153 = 2,296/mo principal+interest
+ 478/mo est. taxes+insurance (1.45%/yr of value — national placeholder)
2,774/mo PITI ÷ 0.28 = 9,907/mo → 118,885/yr required

against Zillow ZHVI 2026-06 and the 6.69% FRED 30-yr rate (2026-08-06).

What salary WOULD clear Minneapolis, MN?

You need about $118,885/yr for the typical home. On $425,000 you already clear it by $306,115.

On $400,000? On $450,000? On $475,000?

See the full Minneapolis, MN affordability breakdown → or every metro you can afford on $425,000 →