Minnesota
Maps & Population Facts
Housing Estimates
Minnesota is the 22nd most populated state, with most of the state's population clustered near Minneapolis. Despite having a corporate tax rate that is almost 10%, Minnesota performs strong economically with residents of Minnesota earning more money on average compared with other states.
The labor force participation rate in Minnesota is of the highest in the nation and Minnesota's education and health sector employs over 530,000 individuals. Minnesota's agricultural industry produces about 10 billion dollars annually between corn, soybeans, wheat and milk.
Income
Households in the state of Minnesota earn more money than the national median income, averaging 13% higher per household.
Housing
Minnesota has a median house price of $224,000. The cost of homeownership is comparable with other states. The cost of renting in Minnesota is 7% less than the national average.
| Percent | Ranking | |
|---|---|---|
| Renter Occupied Households | 28% | 47th |
| New Construction (Built after 2000) | 20% | 28th |
Demographics
The median age in the state is 38. The age of the general population in Minnesota is comparable with other US states.
Minnesota ranks better than average for having an educated population. The state has more college graduates per resident than most states.
Housing Data
| Minnesota | USA | |
| Median Property Value | 224,000 | 217,600 |
| Median Mortgage Payment | 1,500 | 1,513 |
| Median Gross Rent | 939 | 1,012 |
| Property Vacancy | 11.3% | 12.6% |
| % Renters | 28% | 36% |
| Residents per Sq. Mi. | 70 | 93 |
| Minnesota | USA | |
| Median Household Income | 68,388 | 60,336 |
| Median Individual Income | 37,397 | 33,646 |
| Median Income (Full-Time) | 51,221 | 46,881 |
| Median Age | 37.9 | 38.1 |
| Labor Participation | 69.9% | 62.8% |
| Attained College Degree | 36.0% | 32.0% |
Population Density Analysis
Demographics
Most Populated Cities
| 1. | Minneapolis | 411,452 |
| 2. | St. Paul | 300,820 |
| 3. | Rochester City | 112,683 |
| 4. | Duluth City | 86,066 |
| 5. | Bloomington | 85,417 |
Highest Household Income
| 1. | Minnetonka Beach | 200,469 |
| 2. | Sunfish Lake | 199,375 |
| 3. | Rochester Township | 190,781 |
| 4. | Davis | 185,455 |
| 5. | Dellwood | 171,750 |
Highest Home Value
| 1. | Minnetonka Beach | 1,156,300 |
| 2. | Sunfish Lake | 912,200 |
| 3. | Greenwood | 838,500 |
| 4. | Woodland | 810,600 |
| 5. | Medina | 631,000 |
Highest Gross Rent
| 1. | Stillwater Township | 3,100 |
| 2. | Grant | 2,904 |
| 3. | Minnetrista | 2,518 |
| 4. | North Oaks | 2,451 |
| 5. | May | 2,333 |