Minneapolis, MN — income, home value, property tax, and sales tax.
In ZIP 55369, near Minneapolis, median household income of $112,144 pairs with a median home value of $376,400. At the county's 1.14% effective property tax rate, that home would generate roughly $4,290 in annual taxes, which works out to under 4% of the median household's yearly earnings. Per-capita income sits at $59,237. A combined sales tax rate of 9.03% applies to purchases. The relationship between what homes cost, what the tax rate extracts, and what households bring in shapes how comfortably ownership sits here.
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