The 10 Richest Cities In Minnesota For 2024


The richest cities in Minnesota are North Oaks and Orono for 2024 based on Saturday Night Science.

Minnesota is the Land of 10,000 Lakes, The Mall of America, and some super-rich places that cater to the state’s wealthy.

We’re here to tell you where you can live the Minnesota dream in one of the top ten richest places in the North Star State for 2024. This list is our tenth time ranking Minnesota’s top ten richest places. The Minnesota places that made this list house the state’s creme de la creme.

The state is, after all, one of the richest states in the country.

To identify these cities, we used Saturday Night Science to analyze the latest Census and Zillow data on incomes and home prices. We limited the analysis to the 208 Minnesota cities with more than 3,000 residents.

If you’re Minnesota rich, you can buy season passes to watch The Minnesota Vikings in Minneapolis and a second home on Lake Bemidji.


Table Of Contents: Top Ten | Methodology | Summary | Table


Richest Cities In Minnesota Map

Where is the richest place in Minnesota? According to the data, North Oaks is the richest place in Minnesota.

To live anywhere on the list, you’ll need a high-paying job. The state is home to the Target Corporation, 17 Fortune 500 companies, and the highest paying jobs are in healthcare and postsecondary education.

Want to know where the Dom Perignon flows like the Mississippi River in Minnesota? Keep reading.

Rich people not your cup of tea? Feel free to check out some more reading about Minnesota:

The 10 Richest Cities In Minnesota For 2024

1. North Oaks

North Oaks, MN

Source: Wikipedia User Bobak Ha’Eri | CC BY 3.0
Overall SnackAbility

7
/10

Population: 5,193
Median Income: $235,714
Median Home Values: $876,362
More on North Oaks: Data | Cost Of Living | Real Estate

2. Orono

Orono, MN

Source: Flickr User Tony Webster | CC BY-SA 2.0
Overall SnackAbility

6
/10

Population: 8,223
Median Income: $173,209
Median Home Values: $1,019,638
More on Orono: Data | Crime | Cost Of Living | Real Estate

3. Medina

Medina, MN

Source: Flickr User Tony Webster | CC BY 2.0
Overall SnackAbility

7
/10

Population: 6,746
Median Income: $202,153
Median Home Values: $797,015
More on Medina: Data | Crime | Cost Of Living | Real Estate

4. Deephaven

Overall SnackAbility

10
/10

Population: 3,852
Median Income: $164,149
Median Home Values: $931,810
More on Deephaven: Data | Crime | Real Estate

5. Independence

Overall SnackAbility

6
/10

Population: 3,718
Median Income: $191,736
Median Home Values: $700,059
More on Independence: Data | Real Estate

6. Shorewood

Shorewood, MN

Source: Wikipedia User User:Eco84 | GFDL
Overall SnackAbility

7
/10

Population: 7,722
Median Income: $163,525
Median Home Values: $717,403
More on Shorewood: Data | Cost Of Living | Real Estate

7. Minnetrista

Minnetrista, MN

Source: Wikipedia User Elkman | GFDL
Overall SnackAbility

9
/10

Population: 8,347
Median Income: $162,474
Median Home Values: $660,620
More on Minnetrista: Data | Crime | Cost Of Living | Real Estate

8. Victoria

Victoria, MN

Source: Flickr User SocialMediaAdventure | CC BY 2.0
Overall SnackAbility

6
/10

Population: 10,681
Median Income: $179,515
Median Home Values: $552,013
More on Victoria: Data | Cost Of Living | Real Estate

9. Lake Elmo

Overall SnackAbility

6
/10

Population: 11,861
Median Income: $158,269
Median Home Values: $616,212
More on Lake Elmo: Data | Cost Of Living | Real Estate

10. Corcoran

Corcoran, MN

Source: Flickr User Ann Forstie | CC BY 2.0
Overall SnackAbility

6
/10

Population: 6,549
Median Income: $155,385
Median Home Values: $556,085
More on Corcoran: Data | Crime | Cost Of Living | Real Estate

Methodology: How We Determined The Richest Places In Minnesota For 2024

Map Of The Richest Places To Live In Minnesota
The first thing that comes to most people’s minds when they think about determining the richest places is simply identifying personal incomes. After all, rich people have really high salaries.

However, we don’t believe that one statistic wholly encompasses what it means to be one of the “richest places.” So we looked at this set of criteria from the newly released 2018-2022 American Community Survey and applied Saturday Night Science:

  • Median Home Values
  • Median Household Income

Median household income is the most digestible way to understand how rich a place is. And home values are a measure of wealth. The two combine to define a “Rich City.”

After we collected the data for all 208 places with more than 3,000 people in Minnesota, we ranked each place from 1 to 208 for each of the criteria, with 1 being the richest.

We then averaged all the rankings for a place into a “Rich Score,” with the place having the lowest overall Rich Score, North Oaks, crowned the “Richest City In Minnesota For 2024.”

The data has been updated for 2024. This is our tenth time ranking the wealthiest cities in Minnesota.

You can skip to the end to see the rankings for all 208 places.

Summary: The Wealthiest Places In Minnesota For 2024

Like we said earlier, when we set out to identify the richest places in Minnesota, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Minnesota.

The richest cities in Minnesota are North Oaks, Orono, Medina, Deephaven, Independence, Shorewood, Minnetrista, Victoria, Lake Elmo, and Corcoran.

When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.

If you’re curious enough, here are the poorest cities in Minnesota, according to data:

Poorest: Eveleth
2nd Poorest: Chisholm
3rd Poorest: Virginia

For more Minnesota reading, check out:

Detailed List Of The Richest Cities In Minnesota

Rank City RichScore Median Income Average Home Price
1 North Oaks 2.0 $235,714 $876,362
2 Orono 3.0 $173,209 $1,019,638
3 Medina 3.5 $202,153 $797,015
4 Deephaven 4.0 $164,149 $931,810
5 Independence 5.0 $191,736 $700,059
6 Shorewood 6.5 $163,525 $717,403
7 Minnetrista 8.5 $162,474 $660,620
8 Victoria 8.5 $179,515 $552,013
9 Lake Elmo 9.5 $158,269 $616,212
10 Corcoran 11.0 $155,385 $556,085
11 Grant 12.0 $136,579 $671,381
12 Nowthen 15.0 $149,297 $492,094
13 Chanhassen 16.0 $131,633 $509,790
14 Mendota Heights 16.5 $129,800 $515,905
15 Prior Lake 18.0 $129,539 $492,980
16 Dayton 18.0 $138,654 $473,645
17 Edina 19.0 $125,506 $598,918
18 Plymouth 19.0 $130,131 $474,202
19 Elko New Market 20.5 $149,881 $443,179
20 Rogers 20.5 $154,611 $441,756
21 Wayzata 21.0 $118,456 $836,055
22 Lakeville 22.0 $129,069 $465,445
23 Eden Prairie 22.0 $129,345 $463,961
24 Carver 23.5 $125,123 $477,934
25 Hanover 24.5 $145,156 $427,311
26 Mahtomedi 25.0 $126,579 $460,576
27 Woodbury 28.5 $125,097 $448,821
28 Arden Hills 30.0 $121,978 $450,961
29 Rosemount 34.5 $127,252 $408,304
30 Ham Lake 34.5 $112,854 $463,556
31 Minnetonka 34.5 $114,867 $450,534
32 Maple Grove 35.5 $127,001 $397,985
33 Oak Grove 35.5 $118,871 $431,853
34 Lino Lakes 35.5 $120,745 $422,847
35 Andover 36.0 $123,054 $415,283
36 Savage 37.0 $123,069 $412,196
37 St. Michael 37.0 $123,318 $410,822
38 Otsego 40.5 $122,420 $395,838
39 Jordan 41.5 $111,290 $421,455
40 Scandia 43.5 $97,159 $490,786
41 Stillwater 44.0 $107,986 $417,520
42 Centerville 44.5 $117,481 $393,612
43 Columbus 45.0 $103,906 $435,889
44 Hugo 45.0 $110,160 $413,867
45 Waconia 45.5 $101,619 $436,466
46 Delano 46.0 $105,766 $415,697
47 Chaska 47.0 $99,988 $441,075
48 Byron 47.0 $126,250 $362,923
49 Golden Valley 47.0 $110,026 $409,489
50 East Bethel 49.0 $116,453 $378,957
51 Shoreview 51.5 $106,153 $391,526
52 Cottage Grove 52.0 $117,673 $368,093
53 Farmington 52.5 $114,737 $373,537
54 Bayport 53.0 $105,114 $389,047
55 Eagan 54.5 $104,101 $385,125
56 Shakopee 57.0 $103,924 $378,683
57 Ramsey 58.5 $110,212 $362,266
58 Chisago City 59.5 $92,278 $414,242
59 Wyoming 60.0 $99,821 $379,394
60 St. Augusta 60.0 $120,526 $350,403
61 Albertville 62.5 $107,316 $357,047
62 Lindstrom 64.5 $98,456 $370,484
63 Champlin 65.5 $113,570 $347,903
64 Elk River 65.5 $95,597 $377,388
65 Apple Valley 67.5 $97,588 $363,468
66 Forest Lake 67.5 $91,157 $387,584
67 Falcon Heights 68.5 $87,750 $391,737
68 St. Anthony 69.0 $91,955 $377,784
69 Watertown 69.0 $101,667 $352,082
70 Blaine 69.5 $100,659 $354,091
71 St. Louis Park 70.5 $94,263 $364,388
72 Big Lake 71.5 $100,188 $351,813
73 Inver Grove Heights 75.5 $98,719 $349,482
74 Becker 77.0 $87,432 $368,158
75 Hermantown 77.0 $85,417 $383,661
76 Lonsdale 77.5 $95,265 $350,578
77 Mound 77.5 $89,855 $360,628
78 Vadnais Heights 80.0 $89,632 $354,501
79 New Prague 80.5 $101,579 $326,107
80 Belle Plaine 82.5 $94,698 $337,852
81 North Branch 84.0 $94,564 $332,334
82 New Brighton 84.5 $84,707 $362,922
83 St. Francis 84.5 $98,390 $325,664
84 Burnsville 85.5 $85,801 $356,837
85 Roseville 87.0 $87,702 $350,177
86 Pine Island 88.0 $85,500 $352,650
87 Northfield 88.0 $83,125 $358,052
88 Bloomington 89.5 $87,381 $347,523
89 Buffalo 91.5 $81,868 $354,423
90 Mounds View 94.0 $89,358 $322,091
91 St. Charles 95.0 $91,326 $317,219
92 Oakdale 96.0 $86,003 $329,457
93 Maplewood 99.0 $86,769 $320,605
94 Stewartville 99.5 $92,961 $304,105
95 Hastings 100.5 $87,722 $313,784
96 Brooklyn Park 102.5 $82,271 $327,075
97 Circle Pines 103.0 $97,083 $292,408
98 Richfield 103.5 $80,712 $327,416
99 White Bear Lake 104.0 $79,699 $332,323
100 Kasson 105.0 $91,581 $298,905
About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.