Economy in Edina, Minnesota

Edina, MN is a city in Hennepin County, Minnesota known for its strong economy and high quality of life. Local companies in Edina include Fairview Health Services, UnitedHealth Group, and Cambria. The cost of living in Edina is slightly higher than the US average due to the higher rent prices. The 2 bedroom rent in Edina is $1,670 compared to the US average of $1,430 and the Grocery Cost Index is 107 versus 100 in the US. All these factors make Edina an excellent place to live with plenty of amenities and job opportunities.

Edina has an unemployment rate of 3.1%. The US average is 6.0%.

Edina has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 40.7%, which is higher than the US average of 33.5%.

Tax Rates for Edina
- The Sales Tax Rate for Edina is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Edina is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Edina
- The average income of a Edina resident is $61,438 a year. The US average is $28,555 a year.
- The Median household income of a Edina resident is $86,968 a year. The US average is $53,482 a year.