It's a relatively easy place to bike, though not many people do in the winter. If it snows fairly regularly, as it did this year, the streets get narrower and narrower, and the bike lanes aren't well-plowed. But mostly winters are cold rather than snowy. Summers can get very hot, with a glaring prairie sun, and are sometimes dry and sometimes humid.
Minneapolis has some good crime maps on the city's website, check those out before you commit to a place to live.
For me, the sales taxes seem high, especially on utilities and entertainment, but we've been working hard to minimize expenses in both of those areas. Services like libraries and post offices are much, much sparser (per capita) than I'm used to from living in small towns.
There are a lot of good thrift stores in the area, Unique Thrift Stores is one chain with several locations.
Health insurance costs more in Minnesota than in many other states--you can use ehealthinsurance.com to get an idea of costs.
There are large populations of immigrants and refugees in the Twin Cities (Hispanic, Somali, Hmong in particular), so be prepared to encounter a wide variety of cultures.
I'd recommend making a trip to visit before you decide, if you can, and to focus on the qualities of the neighborhood you might be moving to--housing, stores, parks, options for non-car transportation--rather than the touristy stuff.