Richest Cities In Minnesota For 2020


We analyzed 146 places in Minnesota to determine where the 1% live.

Editor’s Note: Data has been updated for 2020. This is our fifth time ranking the richest cities in Minnesota.

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

And lucky for you, HomeSnacks is 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 2020. Incidentally, this is our sixth time ranking the top ten richest places for every state in the country, so believe us when we say that 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.

But, we're here to talk about the richest places in the state. And to do that, we need to tell you how we identified Minnesota's top ten. First, we looked at the latest Census data from the American Community Survey for 147 Minnesota cities with more than 5,000 residents. And, folks, the population numbers in Minnesota's richest places tell us that these places are definitely catering to the state's one percent in both population numbers and wealth.

Secondly, we looked at things that REALLY matter to the rich. Like, high paying jobs and low poverty. Yes, if you're Minnesota rich, you can buy season passes to watch The Minnesota Vikings in Minneapolis and/or a second home on Lake Bemidji.

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

There might not be a Beverly Hills or a bunch of boulevards in Minnesota, but the state has its fair share of super fancy places; and if you think that you want to get your hands on one of these, you're going to need a high paying job. Well, the state is home to the Target Corporation, 17 Fortune 500 companies, and the highest paying jobs are in healthcare and postsecondary education. We're pretty sure you won't have a problem getting a job that makes some money.

So, where is the richest place in Minnesota? According to the data, that would be Victoria.

To see a list of the rest of Minnesota's richest places hit that down arrow. And if you don't find what you're looking for there, head to the bottom.

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

The 10 Richest Cities In Minnesota For 2020

Victoria, MN

Overall SnackAbility

6
/10

Population: 9,032
Rank Last Year: 2 (Up 1)
Median Income: $147,682
Unemployment Rate: 1.5%
Poverty Rate: 3.3%
More on Victoria: Real Estate | Data | Photos

Victoria is a city in Carver County, Minnesota, United States. The population was 7,345 at the 2010 census.

North Oaks, MN

Overall SnackAbility

7
/10

Population: 5,068
Rank Last Year: -
Median Income: $145,915
Unemployment Rate: 1.7%
Poverty Rate: 3.2%
More on North Oaks: Real Estate | Data | Photos

Minnetrista, MN

Overall SnackAbility

9.5
/10

Population: 7,408
Rank Last Year: 17 (Up 14)
Median Income: $161,392
Unemployment Rate: 2.4%
Poverty Rate: 3.0%
More on Minnetrista: Real Estate | Data | Photos

Overall SnackAbility

6
/10

Population: 6,191
Rank Last Year: 11 (Up 7)
Median Income: $144,107
Unemployment Rate: 1.9%
Poverty Rate: 3.6%
More on Medina: Real Estate | Data

Waconia, MN

Overall SnackAbility

6
/10

Population: 11,981
Rank Last Year: 5 (No Change)
Median Income: $94,797
Unemployment Rate: 1.4%
Poverty Rate: 2.1%
More on Waconia: Real Estate | Data | Photos

Waconia, a city in Carver County, Minnesota, United States. The city's population is 11,480 as of 2013.

Chanhassen, MN

Overall SnackAbility

7.5
/10

Population: 25,357
Rank Last Year: 7 (Up 1)
Median Income: $118,885
Unemployment Rate: 1.9%
Poverty Rate: 3.6%
More on Chanhassen: Real Estate | Data | Photos

Chanhassen is a city in Carver and Hennepin counties in the state of Minnesota. It is southwest of Minneapolis. The population was 22,952 at the 2010 census.

Albertville, MN

Overall SnackAbility

6
/10

Population: 7,377
Rank Last Year: 4 (Down 3)
Median Income: $90,078
Unemployment Rate: 1.7%
Poverty Rate: 1.0%
More on Albertville: Real Estate | Data | Photos

Overall SnackAbility

6
/10

Population: 16,189
Rank Last Year: 3 (Down 5)
Median Income: $103,052
Unemployment Rate: 2.5%
Poverty Rate: 2.0%
More on Otsego: Real Estate | Data

Otsego is a city in Wright County, Minnesota, United States. The population was 13,571 at the 2010 census.

Byron, MN

Overall SnackAbility

6
/10

Population: 5,366
Rank Last Year: 6 (Down 3)
Median Income: $86,977
Unemployment Rate: 0.3%
Poverty Rate: 2.0%
More on Byron: Real Estate | Data | Photos

Byron is a city in Olmsted County, Minnesota, United States, approximately 5 miles west of Rochester on U.S. Route 14. It is surrounded by Kalmar Township. The population was 4,914 at the 2010 census.

Rogers, MN

Overall SnackAbility

7
/10

Population: 12,777
Rank Last Year: 1 (Down 9)
Median Income: $125,313
Unemployment Rate: 3.0%
Poverty Rate: 1.8%
More on Rogers: Real Estate | Data | Photos

Rogers is a city in Hennepin County, Minnesota, United States. The population was 8,597 at the 2010 census. However, the population increased to over 11,000 upon the annexing of surrounding Hassan Township in 2012. The population of Hassan Township was 2,600 in 2010, giving the current city a population base of 11,197 as of the census. The center of population of Minnesota is located in Rogers. The city is a northwest suburb of the Minneapolis-Saint Paul metropolitan area.

How We Determined The Richest Places In Minnesota For 2020

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 to simply identify 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 2014-2018 American Community Survey:

  • Poverty Level
  • Median Household Income
  • Unemployment Rate

Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.

After we collected the data for all 147 places with more than 5,000 people in Minnesota, we ranked each place from 1 to 147 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, Victoria, crowned the "Richest City In Minnesota For 2020". You can download the data here.

You can learn more about the top ten below or skip to the end to see the rankings for all 147 places.

There You Have It - The Wealthiest Places In Minnesota For 2020

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.

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: Virginia
2nd Poorest: International Falls
3rd Poorest: Bemidji

For more Minnesota reading, check out:

Detailed List Of The Richest Cities In Minnesota

Rank City RichScore Median Income
1 Victoria 9.67 $147,682
2 North Oaks 10.67 $145,915
3 Minnetrista 12.67 $161,392
4 Medina 13.0 $144,107
5 Waconia 14.67 $94,797
6 Chanhassen 15.0 $118,885
7 Albertville 16.0 $90,078
8 Otsego 17.67 $103,052
9 Byron 18.33 $86,977
10 Rogers 19.33 $125,313
11 Lino Lakes 20.0 $110,458
12 Farmington 20.33 $92,699
13 St. Michael 23.0 $109,456
14 Hugo 23.33 $89,050
15 Ramsey 23.67 $96,692
16 Lakeville 23.67 $106,069
17 Woodbury 23.67 $105,393
18 Orono 24.0 $146,731
19 Maple Grove 25.67 $105,369
20 Kasson 26.0 $71,827
21 Andover 27.33 $106,337
22 Dayton 29.33 $96,500
23 Eden Prairie 34.0 $106,555
24 Corcoran 34.33 $113,051
25 Ham Lake 34.33 $100,292
26 Plymouth 34.33 $100,280
27 Cottage Grove 34.67 $95,453
28 Chaska 35.0 $87,018
29 Mendota Heights 35.33 $119,615
30 Vadnais Heights 37.0 $87,808
31 Oak Grove 38.67 $100,671
32 East Bethel 39.0 $88,988
33 Rosemount 39.33 $99,221
34 Champlin 41.67 $87,692
35 Sartell 42.33 $74,116
36 Prior Lake 43.33 $103,889
37 Savage 44.33 $111,324
38 Shoreview 45.0 $87,920
39 Shorewood 45.33 $129,483
40 Edina 46.0 $99,295
41 Minnetonka 46.67 $91,374
42 St. Anthony 47.67 $70,503
43 Stillwater 48.33 $84,104
44 Delano 49.0 $86,034
45 Lake Elmo 49.0 $115,984
46 Blaine 50.0 $83,201
47 Mahtomedi 50.33 $97,796
48 Apple Valley 50.67 $87,164
49 Mound 50.67 $86,432
50 Golden Valley 52.33 $93,329
51 La Crescent 52.67 $57,260
52 Hermantown 52.67 $69,182
53 Wyoming 54.0 $87,462
54 Shakopee 54.0 $83,565
55 Big Lake 54.67 $79,612
56 Eagan 56.0 $88,370
57 Baxter 56.33 $66,612
58 Isanti 56.33 $72,867
59 St. Louis Park 56.67 $75,690
60 Hastings 57.33 $69,404
61 Belle Plaine 60.67 $80,625
62 Forest Lake 61.33 $81,603
63 Stewartville 64.33 $63,513
64 White Bear Lake 64.33 $70,012
65 New Ulm 65.0 $56,288
66 Arden Hills 65.0 $87,313
67 Elk River 65.33 $86,584
68 Bloomington 67.33 $72,081
69 Zimmerman 67.67 $72,384
70 Litchfield 72.0 $53,941
71 St. Francis 72.0 $82,129
72 Coon Rapids 72.33 $70,413
73 New Prague 72.67 $77,188
74 Hutchinson 74.33 $56,381
75 Monticello 74.67 $65,938
76 Oakdale 75.67 $70,861
77 St. Paul Park 78.0 $72,477
78 North Branch 79.0 $77,750
79 Inver Grove Heights 79.33 $74,883
80 Thief River Falls 79.67 $49,069
81 Chisago City 79.67 $78,879
82 Brooklyn Park 83.0 $70,448
83 Crystal 83.0 $64,544
84 Roseville 84.67 $68,254
85 Redwood Falls 85.33 $50,247
86 Moorhead 85.67 $60,677
87 Richfield 86.0 $63,434
88 Rochester 88.0 $70,749
89 Buffalo 89.67 $72,426
90 Burnsville 90.0 $70,600
91 Alexandria 90.0 $49,708
92 Morris 90.67 $49,875
93 East Grand Forks 90.67 $60,453
94 North St. Paul 90.67 $63,110
95 St. Peter 92.33 $55,758
96 South St. Paul 92.67 $60,588
97 New Brighton 93.0 $69,357
98 Grand Rapids 93.33 $45,784
99 Northfield 93.67 $65,441
100 Maplewood 94.67 $66,758

How Is The Area In ?

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.

3 thoughts on “Richest Cities In Minnesota For 2020

  1. If the numbers are compiled from statistics collected during 2012-2016, how does this translate to the wealthiest population of 2018?

    1. It’s the most recent data available. 2017 data won’t be available until December 2018, at which point we update it again.

      Any thoughts on how else to determine the wealthiest populations at the current time? No other data source except for home values is ever reported at the town/city level in a timely manner and even that’s proprietary to most real estate firms.

  2. This is a terrible analysis–absolutely terrible. Even its most basic assumptions are flawed. The result? Go most of the top cities, and you will be completely confused as to how it even made this list. This is a perfect example of how averages fail to capture the whole picture… Nassim Taleb would have a field day with this bogus list.

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