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Retirement Savings Calculator for Duluth, MN
Local data pre-filled
The median household income in Duluth is $71,067. With a cost of living index of 90, your retirement needs will be lower than average. Planners generally recommend saving 10–15% of income; at Duluth's median income that's $8,528–$10,660 per year.
✓ Calculator below is pre-filled with Duluth local data
Data as of · Sources: Zillow, Census ACS, Tax Foundation, Freddie Mac
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Minnesota Financial Snapshot (2026) — Retirement Savings Calculator
Social Security + 401(k) state treatment + estate exemption shape the retirement savings calculator in Minnesota. Every row cites a primary public dataset. Numbers reflect the most recent vintage available; refresh cadence is documented in the methodology.
How the Retirement Savings Calculator Math Works Under Minnesota Law
Your retirement projection in Minnesotahas two tax-aware legs: the accumulation side (contributions reduce today's AGI) and the withdrawal side (distributions are taxed when you pull them out). Minnesota taxes Social Security benefits, and 401(k) withdrawals ARE subject to state income tax in full[1].
This changes the math. A flat-tax state that spares Social Security means the 4% safe-withdrawal rule stretches further in real terms than the raw headline number suggests — the right portfolio target is FIRE_number = annual_expenses × 25, where annual_expenses already nets out state taxes. Estate planning adds a third leg: Minnesota's state estate tax exemption is $3,000,000 — below the federal $13.99M threshold, so larger estates plan differently here.
Calc-specific note: Rule of 25: FIRE number = annual expenses × 25. Expenses must be net of state taxes on withdrawals.
Worked example — Minnesota
A Minnesota household targeting $80,000/year in retirement spending needs a portfolio ≈ $2,000,000 (25× rule, 4% SWR). With 9.85% state tax on withdrawals, that target rises to ≈ $2,218,525 net.
Local context: Duluth, MN
Housing economics in Duluth, MN. The median home value runs 29.2% below the U.S. baseline for Duluth, MN is $253,294 per Zillow's home-value index. Median rent runs $1,559 a month per Zillow ZORI, cheaper than the national $1,850 baseline. Effective property tax sits at 1.30% of assessed value, meaningfully higher than the 0.99% national average tracked by the Tax Foundation. Lenders in Duluth, MN have quoted 6.30% on the 30-year fixed product over the trailing four-week window per Freddie Mac PMMS — the prevailing posted rate before any borrower-specific lock-ins.
Income and tax climate. Minnesota's top marginal state income tax bracket lands at 9.85% — compared to the volume-weighted national average around 4-5%. BEA's Regional Price Parity scores Duluth, MN at 90.0 (national = 100), meaning a dollar in Duluth, MN buys 111¢ — more goods and services than the same dollar nationally.
How Duluth, MN shapes retirement math. State income tax treatment of retirement distributions varies more than most savers realize — some states exempt Social Security entirely, others exempt pensions but tax 401(k)/IRA distributions at ordinary rates, others tax everything. Duluth, MN's top marginal bracket and its specific exemption rules feed the retirement-savings, Social Security optimization, and required-minimum-distribution calculators on this page. Cost-of-living also matters: the same nominal nest egg buys different lifestyles in different states, and BEA's Regional Price Parity index makes that quantifiable.
Local context as of 2026-05-31. Live data sources are listed in the Sources section below; each metric carries its own retrieval date.
Duluth versus the U.S. baseline
How does Duluth, MN stack up against the national average on the metrics that drive the calculators on this page? The table below pairs the Duluth, MN-specific reading against the U.S. baseline so you can see at a glance whether your local scenario runs above or below typical. Three to five percentage points of difference on most of these inputs translates into meaningful changes in calculator output — for example, a 50-basis-point difference in mortgage rate moves the monthly payment on a $400,000 30-year loan by roughly $130.
| Metric | Duluth, MN | U.S. baseline | Difference |
|---|---|---|---|
| Median home value[zillow] | $253,294 | $358,000 | -29.2% |
| Median monthly rent[zillow] | $1,559 | $1,850 | -15.7% |
| Property tax (effective)[tax-foundation] | 1.30% | 0.99% | 31.3% |
| State top marginal income tax[tax-foundation] | 9.85% | ~4.08% (volume-weighted) | 5.8 pp |
| State cost-of-living index[bea-rpp] | 90.0 | 100.0 | -10.0 pts |
How to use the Retirement Savings Calculator
Walk through using the Retirement Savings Calculator with Duluth, MN-specific defaults pre-loaded from primary sources.
- Enter your Duluth numbersFill in the retirement savings inputs. Defaults reflect Duluth, MN 2026: median home $253,294, median rent $1,559/mo, 1.30% effective property tax.
- Apply the local 2026 inputsThe median home value in Duluth is $253,294 (Zillow ZHVI), with median monthly rent running $1,559/mo.
- Compare against Duluth contextMonthly PITI on the $253,294 median home in Duluth is ~$1,810/mo — vs a $1,559/mo median rent.
How Minnesota Compares to Neighboring States
Moving one state over changes the retirement savings numbers. Compare median home value (Zillow ZHVI), top marginal income tax rate, effective property tax rate, and the BEA all-items Regional Price Parity across Minnesota and its border states.
| State | Median home | Top inc tax | Prop tax rate | RPP (US=100) |
|---|---|---|---|---|
| Minnesota (this page) | $335,000 | 9.85% | 1.12% | 98.3 |
| check Iowa | $215,000 | 3.80% | 1.50% | 88.8 |
| check North Dakota | $265,000 | 2.50% | 0.98% | 88.2 |
| see South Dakota | $275,000 | None | 1.24% | 88.1 |
| Wisconsin equivalent | $295,000 | 7.65% | 1.85% | 93.2 |
Sources: Zillow ZHVI[1], state Departments of Revenue / Tax Foundation[2], Tax Foundation property taxes[3], BEA Regional Price Parities[4].
What Changes Your Result in Minnesota
- Marginal vs effective rate:Top marginal rate (9.85%) applies to the last dollar earned above the top bracket floor. Your effective rate — total state tax divided by taxable income — will be lower for most filers.
- Social Security is taxed here:Minnesota taxes Social Security benefits at the state level. This usually raises your 25× FIRE target by 3–8% depending on your benefit size[6].
- State estate tax exemption:State estate exemption: $3,000,000. Below federal ($13.99M) — high-net-worth Minnesota estates plan around both thresholds.
How Duluth Compares to the National Average
Understanding how Duluth stacks up helps you calibrate your financial planning.
| Metric | Duluth, MN | US Average | Difference |
|---|---|---|---|
| Median Home Price | $253,294 | $420,800 | -39.8% |
| Median Monthly Rent | $1,559 | $1,713 | -9.0% |
| Median Household Income | $71,067 | $74,580 | -4.7% |
| Property Tax Rate | 1.30% | 1.10% | +18.2% |
| Cost of Living Index | 90 | 100 | -10.0% |
Sources: U.S. Census Bureau, BLS, Zillow, NAR (2024–2025). Green = favorable for residents; red = less favorable.
Duluth Financial Snapshot
- Population (Metro)
- 295,000
- Unemployment
- 3.8%
- Avg Commute
- 19 min
- Median Age
- 35.2
- Price-to-Rent Ratio
- 13.5x
- Annual Property Tax
- $3,293
More Financial Calculators for Duluth, MN
Retirement Savings Calculator in Other Minnesota Cities
Frequently Asked Questions — Duluth
- Can median-income households afford the median home in Duluth?
- With a ~$1,810 monthly PITI and $71,067 median income, housing would consume ~30.6% of gross annual income. Qualifying under the 28% DTI rule requires ~$77,571 in annual income. Educational reference only.
- Is it better to rent or buy in Duluth?
- Duluth's price-to-rent ratio (13.5x) tilts toward buying — below 15x, homes are economical relative to renting.
- What is the annual property tax bill on the median home in Duluth?
- Approximately $3,293/yr at the 1.30% effective rate on the $253,294 median home. The national average effective rate is 1.07%.
- What share of median income goes to rent in Duluth?
- The $1,559/mo median rent represents 26.3% of the $71,067 median household income. The recommended housing cost threshold is 30%; Duluth falls within that guideline. Educational reference only.
- How much does commuting cost in Duluth?
- Average commute time in Duluth is 19 minutes per ACS. Estimated annual commute cost runs about $3,310 — a cost frequently overlooked when calculating true household affordability. Educational reference only.
- How does the cost of living in Duluth compare to the national average?
- Duluth's BEA RPP index is 90, 10% below the national baseline of 100. For a household earning the national median income of $77,540, this translates to ~$7,754/yr in purchasing power difference. Educational reference only.
- What is the median home price in Duluth, MN?
- The median home price in Duluth is $253,294 as of 2025–2026.
- What is the average rent in Duluth?
- The median monthly rent in Duluth, MN is $1,559.
- Where does Duluth data on this page come from?
- Duluth numbers are pulled from Zillow ZHVI/ZORI (home values, rent), the U.S. Census Bureau ACS (income, demographics), and Tax Foundation (property tax). Each value is timestamped on the page.
- How often is the Duluth retirement savings updated?
- Source feeds (Zillow, Freddie Mac PMMS, Census ACS) are refreshed on their native cadence — hourly for mortgage rates, monthly for ZHVI/ZORI, annually for ACS. Page caches revalidate every 24 hours via Next.js ISR.
- Does the retirement savings replace professional advice?
- No. This calculator gives educational estimates using public Duluth data and standard formulas. It is not personalized tax, legal, or investment advice. Consult a licensed professional for decisions with material consequences.
Minnesota State Context
Minnesota Real Estate Tips
Minnesota's median home price of $345,000 is near the national average, with Twin Cities metro running $350-450K.
Minnesota Housing offers multiple programs with DPA and below-market rates.
Property taxes at 1.12% are slightly above the national average.
Minnesota Homebuyer Programs
- ✓Minnesota Housing Start Up Program — below-market mortgages with DPA.
- ✓Minnesota Housing Deferred Payment Loan — up to $12,000 in DPA as a deferred loan.
Statewide Minnesota figures apply broadly across Duluth. County- and city-level variation can be significant — verify against local sources before closing a transaction. [3]
How we compute this — methodology
The Duluth page uses local median home price ($253,294), median rent ($1,559/mo), and property tax rate (1.30%) alongside the calculator's client-side formula. Calculations run in your browser — no inputs are sent to a server.
Refresh cadence:home price (Zillow ZHVI) and rent (Zillow ZORI) are reviewed monthly when the source publishes. Property tax and cost-of-living figures refresh annually. The page's dateModified reflects the most recent retrievedAt across every sourced value rendered above.
Known limits: ZIP-level variance within Duluth can be substantial — the figures shown are city-wide medians. For a precise property tax quote, consult your county assessor.
Sources
- Zillow Research — ZHVI (Zillow Home Value Index) + ZORI (Zillow Observed Rent Index), city-level. zillow.com/research/data. Retrieved 2026-04-19.
- U.S. Census Bureau — American Community Survey (ACS) 5-year estimates for median household income and population. census.gov/programs-surveys/acs.
- CalcFi state financial context — tips + first-time homebuyer programs compiled from each state's Housing Finance Authority (HFA) public pages. See
src/data/state-financial-context.ts. - Tax Foundation — state property tax effective rates and state/local sales tax rates. taxfoundation.org.
- Freddie Mac Primary Mortgage Market Survey (PMMS) — weekly national mortgage rate averages used by mortgage-related calculators. freddiemac.com/pmms.
- Social Security Administration — OASDI / Medicare benefit + contribution rules — www.ssa.gov. Retrieved 2026-04-19.
- Internal Revenue Service — federal individual income tax brackets and standard deductions — www.irs.gov/forms-pubs/about-publication-17. Retrieved 2026-04-19.
- State Departments of Revenue — official bracket + deduction publications (one primary URL per state; linked in the brackets table below) — taxfoundation.org/data/all/state/state-income-tax-rates. Retrieved 2026-04-19.
- FDIC — National Deposit Rates (savings, checking, CD) — www.fdic.gov/resources/bankers/national-rates. Retrieved 2026-04-19.
- Freddie Mac Primary Mortgage Market Survey (PMMS) — weekly national mortgage rates — www.freddiemac.com/pmms. Retrieved 2026-04-19.
- NAIC Dwelling Fire, Homeowners Owners, and Homeowners Tenants Insurance Report — content.naic.org/article/homeowners-insurance-report. Retrieved 2026-04-19.
- Bureau of Economic Analysis — Regional Price Parities by State — www.bea.gov/data/prices-inflation/regional-price-parities-state-and-metro-area. Retrieved 2026-04-19.
- U.S. Department of Labor — State Minimum Wage Laws — www.dol.gov/agencies/whd/minimum-wage/state. Retrieved 2026-04-19.
- FRED (Federal Reserve Economic Data) — real median household income, unemployment, HPI, LFPR per state — fred.stlouisfed.org. Retrieved 2026-04-19.
- HUD Fair Market Rents — 50th-percentile 2-bedroom FY — www.huduser.gov/portal/datasets/fmr.html. Retrieved 2026-04-19.
- BLS Occupational Employment and Wage Statistics (OEWS) — state-level occupational wages — www.bls.gov/oes. Retrieved 2026-04-19.
Spot an error? Email hello@calcfi.app with the URL and the correct figure.
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National reference: Retirement Savings Calculator