Is Minneapolis, MN affordable on a $950,000 salary?
YES
On $950,000/yr, the typical $393,774 home in Minneapolis, MN needs $116,094/yr ($2,709/mo). Your gap: +$833,906 — housing would be 3.4% of your gross income.
The math
393,774 price − 10% down (39,377) = 354,397 loan
30-yr fixed at 6.47% on 354,397 = 2,233/mo principal+interest
+ 476/mo est. taxes+insurance (1.45%/yr of value — national placeholder)
2,709/mo PITI ÷ 0.28 = 9,674/mo → 116,094/yr required
against Zillow ZHVI 2026-05 and the 6.47% FRED 30-yr rate (2026-06-18).
What salary WOULD clear Minneapolis, MN?
You need about $116,094/yr for the typical home. On $950,000 you already clear it by $833,906.