Minnetonka, Minnesota (55305) is a popular suburb of Minneapolis. The 2 bedroom rent here is $1,870 compared to the US average of $1,430. Additionally, the grocery cost index in Minnetonka is 104 versus 100 in the US. Many major employers have headquarters or satellite offices located in Minnetonka including UnitedHealth Group, Carlson Companies, Cargill Incorporated, and more. There are also a number of local companies that contribute to the city's success such as Affordable Framing & Art Gallery, Prints Charming Custom Framing & Art Gallery, and Lakewinds Food Co-op. All these businesses help give Minnetonka its distinct character and culture.
Minnetonka (zip 55305) has an unemployment rate of 3.3%. The US average is 6.0%.
Minnetonka (zip 55305) has seen the job market decrease by -3.6% over the last year. Future job growth over the next ten years is predicted to be 38.4%, which is higher than the US average of 33.5%.
Tax Rates for Minnetonka (zip 55305)
- The Sales Tax Rate for Minnetonka (zip 55305) is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Minnetonka (zip 55305) 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 Minnetonka (zip 55305)
- The average income of a Minnetonka (zip 55305) resident is $62,173 a year. The US average is $37,638 a year.
- The Median household income of a Minnetonka (zip 55305) resident is $95,701 a year. The US average is $69,021 a year.