Basement remodel costs depend on your project and location. Check with a local pro for your specific job.
Homeowners can expect to pay between $19,000 and $65,000 to finish a basement in Minneapolis, MN.
Code-compliant necessities, such as ventilation and egress windows, drive up the project cost.
Labor makes up 50% to 70% of your cost, and a general contractor is the most common pro hired.
Hiring a Minneapolis, MN general contractor to finish your basement provides professional up-to-code results.
In Minneapolis, MN, homeowners considering a basement finishing project can expect costs to be somewhat higher than the national average, due to rigorous local building codes, permitting requirements, and the need for enhanced insulation to withstand harsh winters. The cost to finish a basement in Minneapolis, MN, ranges from $15,720 to $78,600, with an average project cost of $33,536.
The project budget is affected by many factors, including the size of the basement, the level of finish, and any structural issues to consider. Labor rates in the Minneapolis, MN, area, as well as considerations for insulation, flooring, or egress requirements, impact project costs. Homeowners should budget more for extras like wet bars, added bathrooms, or built-in storage, to achieve the functionality they want in their newly finished space.
Budgeting for your basement finishing project in Minneapolis, MN, depends on several key factors, including local egress requirements, the square footage, and labor rates. Let’s take a closer look at how these affect the price.
Your final basement finishing cost relies on your starting point. In some cases, you might not even have an unfinished basement to work with, so you’ll have to factor in the cost to build one. On the other hand, you might already have a built or semi-built space that just needs remodeling to turn it from an unfinished to a finished basement.
| Project Type | Average Cost | Cost per Sq. Ft. | Description |
|---|---|---|---|
| Finishing an unfinished basement | $19,000–$65,000 | $32–$100 | Includes a new foundation |
| Finishing a half-finished basement | $10,500–$40,000 | $24–$85 | Smaller scope (e.g., movie room or laundry area) |
| Remodeling a finished basement | $21,000–$70,000 | $38–$95 | Cost depends on rooms and additions like kitchenette or laundry room |
Basement finishing costs vary by size, with larger spaces increasing total project costs.
| Basement Size (Sq. Ft.) | Average Cost |
|---|---|
| 500 | $3,500–$11,500 |
| 750 | $5,250–$17,250 |
| 1,000 | $7,000–$23,000 |
| 1,500 | $10,500–$34,500 |
| 2,000 | $14,000–$46,000 |
Basement finishing costs about $32 to $100 per square foot in Minneapolis, MN, so the larger the space, the more you’ll spend to turn it into a cozy den or welcoming guest suite. A smaller, 500-square-foot basement will cost $3,500 to $11,500, while a larger, 1,500-square-foot basement will cost significantly more.
The materials you choose will play a major role in your overall basement finishing cost, with prices varying based on quality, durability, and design preferences.
| Material | Average Cost |
|---|---|
| Flooring | $1,800–$6,200 |
| Paint | $2,100–$3,600 |
| Egress windows | $1,300–$4,200 each |
| Doors | $550–$11,500 |
Higher-end materials and finishes will raise your total cost, while standard options help keep the project within budget, so it’s important to balance where to spend and save.
A sump pump will cost around $700 to $1,200 to install. This system is crucial for, you guessed it, pumping out large volumes of water that might accumulate from rain, a bad plumbing day, or any other event that could lead to flooding.
To avoid soggy stuffed animals and wet carpet, waterproofing your basement will cost an additional $5,800 on average, or $6.50 to $13 per square foot. Your final basement waterproofing cost depends on the method you use and the extent of work required. Depending on your local climate, there may be a best time of year to finish your basement, since waterproofing can’t always be done in all temperatures. For the best results, find a basement waterproofing contractor near you.
When determining their budget, homeowners in Minneapolis, MN, should also factor in local labor, permits, insurance, and other location-specific costs that affect the price. Let’s break down how common expenses for Minneapolis, MN, basement finishing pros affect your project total.
Labor is a significant portion of the total project budget for finishing a basement in Minneapolis, MN, often accounting for about 50% to 70% of the project cost. General contractors in the area typically charge between $85 and $170 per hour, or roughly $2,000 to $12,500 or more per project, depending on basement size, finish level, and insulation needs.
For basement finishing projects in Minneapolis, MN, general contractors are the primary pros to turn to. They coordinate the entire project from start to finish, including drywall, electrical work, and any structural repairs that may be required. These local experts are well-versed in permits and inspection requirements and can guide you through layout and design choices to ensure you end up with the finished basement you envisioned.
Depending on the scope of your project, additional basement finishing pros may be required to get the job done. Here are some specialists to consider based on your project’s unique needs:
Electricians are essential for installing new circuits, recessed lighting, or outlets that meet Minneapolis, MN, permit and inspection requirements. They charge between $90 and $160 per hour.
If you plan to add a bathroom, wet bar, or sump pump connections, you may need to hire a licensed plumber. They charge between $85 and $150 per hour, depending on the complexity of the work.
For ductwork, new returns, or installing a ductless mini-split system, consider hiring an HVAC pro. They ensure your new basement is properly heated, cooled, and ventilated, and charge between $90 and $165 per hour.
Acquiring the necessary building permits to remain code-compliant will add $1,200 to $3,200 to your total cost to finish a basement. Some municipalities will charge permit fees of 1% to 2.5% of your basement remodel project. A general contractor will usually include this in your service package, but if you’re handling the building yourself, be sure to factor it into your budget.
In the Minneapolis, MN, market, homeowners see an average return on investment (ROI) of about 55% to 75% on a basement finishing project, depending on the quality of the work, energy-efficient upgrades, or added features, including bathrooms or egress windows. A thoughtfully executed basement remodel can recoup a meaningful portion of its cost in resale value, particularly when it adds true livable square footage.
A finished basement increases space in your home, often creating opportunities for an additional family room, guest suite, home office, or recreation area, all features that are especially attractive to buyers in Minneapolis. In a competitive housing market, particularly in established neighborhoods such as Edine, Uptown, and St. Louis Park, a well-finished basement can strengthen buyer interest and contribute to a faster, higher-value sale.
To help homeowners plan their next project, Angi provides readers with carefully researched cost data and upholds strict editorial standards. We start with national average project costs, which we collect by analyzing competitor information, retailer material costs, and input from professional contractors. We then apply local price index data to calculate location-specific estimates that reflect what homeowners typically pay in their local area. To do that, we use data from the U.S. Bureau of Economic Analysis (BEA), including its Regional Price Parities (RPPs), which measure price differences across cities. This helps us account for differences in labor, materials, and overall cost of living, so estimates in higher- or lower-cost areas better reflect real-world local pricing.
Every estimate undergoes a thorough editorial review to verify accuracy, consistency, and alignment with observed market conditions.
Want to help us improve our cost data? Send us a recent project quote to [email protected]. Quotes and personal information will not be shared publicly.
Ultra Clean is a great company. I called them on Sunday and they came right away. They immediately started helping, controlling the water, and handling the mitigation. They did everything perfectly and dried the basement. They were very nice and supportive. Thank you to Devonte, the entire...
I recently had my bathroom remodeled by StoneHearth Remodeling, and I couldn?t be happier with the results! From the very beginning, their team was professional, communicative, and genuinely committed to bringing my vision to life. They helped me choose high-quality materials and offered...
Stonehearth RemodelingAll Dry did an amazing job removing the black mold from our basement. I would hire again
All Dry MinneapolisI was so glad that I hired diakan to do my drywall for my sonâ s basement and they did excellent of installing the drywall and painting and adding molding around it. Thanks ð
Twin Cities TilingExecutive Remodeling is literally the first contractor that I've dealt with in the past 5 years that's actually done exactly what they said they were going to do. From my first interaction with scheduler Rod Otto, to the in-house visit by Allison Murray, the team was responsive, respectful,...
Executive RemodelingThis company is amazing. I would highly recommend them for anyone seeking to evaluate their own home or to look into future home purchases. I have a 100 year old home with several challenging drainage areas, that are hard to address. I really appreciate the way they thought through the...
Criterium-Schimnowski EngineersFrom the beginning to the end, my full kitchen remodel was taken on by the best with Fine Line Builders, LLC. Owner Dan Lamg had expertise in years of experience, as well as connections with a crew of very efficient and professional builders/sub-contractors. He also met my needs with the best...
Fine Line Builders LLCI've been working with Conrad for over a year now on a basement remodel project and he's been absolutely fantastic. He's been so patient with my remodel project and always goes the extra mile to make sure things get done right
Avid Heating and CoolingI had a complete bathroom remodel done by Viking building solutions. They did a fabulous job my bathroom looks amazing they did not disappoint! I will definitely be hiring them again for future remodels.
Viking Building SolutionsAbsolutely wonderfully. I had THE most detailed and meticulous installer from Window Concepts of MN, Jason. Just what you need and want in a bathroom remodel in a building 130 years old!
Window Concepts of Minnesota IncFrom average costs to expert advice, get all the answers you need to get your job done.
Need to fix basement water problems or safeguard your home in Minneapolis, MN from damage in the future? Use this basement waterproofing cost guide to budget appropriately.
A foundation for a new-build home averages around $7,092. Find out all the factors that affect the cost of a foundation in Minneapolis, MN and how to save money.
Finishing an attic can make a great addition to your home. This guide breaks down the cost to finish an attic in Minneapolis, MN including labor, materials, and more.
When it comes to creating a downstairs oasis, knowing who to hire to finish your basement is key. Here's how to find the best professional for the job.
Ready to transform your lower level? Learn about basement finishing costs, design ideas, and how to hire a local basement remodeling contractor for the job.
A finished basement adds valuable living space to your home. Learn how much value a finished basement adds to your home and what affects your return on investment.
