Tesla Model Y vs Hyundai Ioniq 5: cost to own in Minnesota
Electricity & gas updated · Minnesota averages (estimates)
Over five years in Minnesota, the 2026 Tesla Model Y costs about $45,771 to own versus $45,540 for the Hyundai Ioniq 5 — a gap of roughly $200 in the Hyundai Ioniq 5's favor. The biggest swing is depreciation ($26,094 vs $25,945); on energy, the Model Y is rated 28 kWh/100mi against the Ioniq 5's 31. Both use Minnesota's average electricity rate here — open either model's Minnesota page for the full calculator and your utility's time-of-use plan.
Over 5 years in Minnesota, the Hyundai Ioniq 5 costs about $200 less to own.
Tesla Model Y
$45,800
5-yr cost to own · $9,150/yr
Hyundai Ioniq 5
$45,500
5-yr cost to own · $9,110/yr
5-year cost breakdown
| 5-year cost | Tesla Model Y | Hyundai Ioniq 5 |
|---|---|---|
| Depreciation (5 yr) | $26,094 | $25,945 |
| Energy (5 yr) | $3,902 | $4,320 |
| Insurance (5 yr) | $14,650 | $14,650 |
| Maintenance (5 yr) | $3,250 | $2,750 |
| Registration (5 yr) | $375 | $375 |
| Incentives | − $2,500 | − $2,500 |
| 5-year total cost to own | $45,771 | $45,540 |
Frequently asked questions
- Is the Model Y or the Ioniq 5 cheaper to own in Minnesota?
- Over five years the Hyundai Ioniq 5 is cheaper — about $45,540 versus $45,771 for the Model Y, a difference of roughly $200 once depreciation, energy, insurance, maintenance, and fees are counted.
- Which is more efficient, the Model Y or the Ioniq 5?
- The Model Y is rated 28 kWh/100mi and the Ioniq 5 31 kWh/100mi (lower is better), so annual charging runs about $780 vs $864 at Minnesota rates.
- How accurate is this Model Y vs Ioniq 5 comparison?
- Electricity prices come from EIA data refreshed monthly; depreciation, insurance, and incentives are estimates you can edit on each model's state page. Treat it as a ballpark for comparison, not a quote.