What does a Financial Advisor salary really buy you in Minnesota?
Minnesota is 2.3% cheaper than the US averageData: BLS OEWS 2024 + BEA Regional Price Parities 2022 • Updated 2026-03-31
Minnesota's Regional Price Parity (RPP) is 97.7, meaning prices are 2.3% lower the national average. A Financial Advisor earning $94,420 in Minnesota has the equivalent purchasing power of $96,642 in an average-cost US state.
Minnesota's cost of living is close to the national average, so $94,420 keeps most of its value at $96,642 in real terms. Location choice here is more about career opportunities than cost arbitrage.
Where does Financial Advisor salary stretch the furthest? Top 10 states ranked by COL-adjusted median salary.
Minnesota ranks #22 out of 46 states for Financial Advisor after cost-of-living adjustment.
Some links are affiliate links. See our disclosure.
A Financial Advisor in Minnesota earns a median salary of $94,420 per year. After adjusting for Minnesota's cost of living (RPP=97.7), the real purchasing power is $96,642 — a +2.4% difference.
Minnesota's cost of living is 2.3% lower than the national average according to the BEA Regional Price Parities (2022). The RPP index for Minnesota is 97.7 (US average = 100).
Regional Price Parities (RPPs) are price indexes published by the U.S. Bureau of Economic Analysis (BEA) that measure differences in price levels across states. They are expressed as a percentage of the national average (US = 100). Higher RPP means higher cost of living.
The adjusted salary is calculated as: Nominal Salary x (100 / RPP). For a Financial Advisor in Minnesota: $94,420 x (100 / 97.7) = $96,642. This represents what the salary would be worth in a state with average living costs.
From a purchasing power perspective, yes. A Financial Advisor in Minnesota enjoys 2.4% more buying power than the nominal salary suggests, because living costs are below the national average. However, other factors like job availability, career growth, and quality of life also matter.