Minnesota Economy


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Minnesota State is a beautiful state filled with many opportunities. Rent for a two-bedroom apartment in Minnesota is more affordable than the national average, at $1,240 compared to $1,430. The Grocery Cost Index in Minnesota is also lower than the national average, coming in at 97 versus 100 in the US. Local companies that are popular in Minnesota include Target Corporation, 3M Company, UnitedHealth Group Incorporated, Best Buy Co., Inc., and CHS Inc. There are numerous other businesses located throughout the state that provide residents with employment and resources.

Minnesota has an unemployment rate of 4.5%. The US average is 6.0%.

Minnesota has seen the job market decrease by -3.1% over the last year. Future job growth over the next ten years is predicted to be 34.0%, which is higher than the US average of 33.5%.

Tax Rates for Minnesota
- The Sales Tax Rate for Minnesota is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Minnesota 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 Minnesota
- The average income of a Minnesota resident is $41,204 a year. The US average is $37,638 a year.
- The Median household income of a Minnesota resident is $77,706 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyMinnesota, MinnesotaUnited States
  Population by Occupation
Reviews for Minnesota
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My family and I have lived in Minnesota for just shy of 10 years. We came from a southern state, so we were a little used to more of a friendly type of atmosphere. We  More

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Over 2 years ago

I've lived in this city for 4 years and the people are as bitter and cold as the winters here. Have had most only bad experiences here, probably only a couple decent  More

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Its a great place -- lots to do, diverse population. Negatives are cold winters and high  More

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