Paycheck calculator › After taxes and rent › Minneapolis › $40,000
$40,000 after taxes and rent in Minneapolis (2026)
A $40,000 salary in Minneapolis takes home $2,735 a month after federal tax, FICA, Minnesota state tax. A typical one-bedroom costs $1,405 (HUD FY2026), leaving $1,330 a month for everything else — rent is 51.4% of take-home, above the 30% guideline. A studio leaves $1,493; a two-bedroom $1,026.
Your pay
Take-home pay
$2,735
take-home pay a month
from a gross of $3,333
Effective tax rate 17.9%Marginal rate 25.4%Total taxes $7,177
Federal tax 6.6%FICA 7.6%State 3.7%Take-home 82.1%
I want to take home
$
Net pay on my pay stub
$
| Line | A | B | Difference |
|---|
| Line | Monthly | Yearly |
|---|---|---|
| Gross pay | $3,333 | $40,000 |
| Federal income tax | −$218 | −$2,620 |
| Taxable income $23,900 = wages $40,000 − standard deduction $16,100, through the 2026 brackets (10%/12%/22%/24%/32%/35%/37%). | ||
| Social Security (6.2%) | −$207 | −$2,480 |
| 6.2% of $40,000. | ||
| Medicare (1.45%) | −$48 | −$580 |
| 1.45% of $40,000. | ||
| Minnesota state income tax | −$110 | −$1,321 |
| Taxable $24,700 = wages $40,000 − deduction $15,300. Brackets 5.35%/6.8%/7.85%/9.85%. | ||
| MN Paid Leave | −$15 | −$176 |
| 0.44% of wages up to $184,500. | ||
| Take-home pay | $2,735 | $32,823 |
take-home pay a month$2,735
$40,000 in Minneapolis: monthly budget after rent
| Unit | HUD FMR | Left after rent / mo | Rent share of take-home |
|---|---|---|---|
| Studio | $1,242 | $1,493 | 45.4% |
| One bedroom | $1,405 | $1,330 | 51.4% |
| Two bedrooms | $1,709 | $1,026 | 62.5% |
| Three bedrooms | $2,262 | $473 | 82.7% |
Rents are HUD Fair Market Rents for FY2026 (the 40th-percentile gross rent, utilities included, for the metro area — a modest, typical unit, not a luxury one). Take-home is for a single filer with no pre-tax deductions, 2026 tables, city tax where it applies. The 30% rule compares rent with take-home pay, not gross.