Minneapolis, MN — income, home value, property tax, and sales tax.
In ZIP code 55304, near Minneapolis, households earn a median of $131,700, with per-capita income at $53,292. Homes here carry a median value of $421,300, and the county-level property tax rate of 0.94% works out to roughly $3,960 annually on such a home. Combined with an 8.12% sales tax rate, that shapes the overall cost picture: a strong income base paired with above-average housing values, where property taxes take a smaller share than the sales tax paid on everyday purchases.
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