The 10 Richest Cities In Minnesota For 2021


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

Editor’s Note: Data has been updated for 2021. This is our seventh time ranking the richest cities in Minnesota.

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 2021. Incidentally, this is our seventh 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 146 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.

Here are the 10 richest places in Minnesota for 2021:

  1. North Oaks
  2. St. Michael
  3. Corcoran
  4. Byron
  5. Otsego
  6. Lino Lakes
  7. Medina
  8. Chanhassen
  9. Waconia
  10. Rogers

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 North Oaks.

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 2021

1. North Oaks

North Oaks, MN

Overall SnackAbility

7
/10

Population: 5,177
Rank Last Year: 2 (Up 1)
Median Income: $178,816
Unemployment Rate: 0.7%
Poverty Rate: 2.7%
More on North Oaks: Real Estate | Photos

2. St. Michael

St. Michael, MN

Overall SnackAbility

6
/10

Population: 17,586
Rank Last Year: 13 (Up 11)
Median Income: $114,015
Unemployment Rate: 1.6%
Poverty Rate: 1.2%
More on St. Michael: Real Estate | Photos

3. Corcoran

Corcoran, MN

Overall SnackAbility

6
/10

Population: 5,911
Rank Last Year: 24 (Up 21)
Median Income: $122,075
Unemployment Rate: 1.9%
Poverty Rate: 1.8%
More on Corcoran: Real Estate | Photos

4. Byron

Byron, MN

Overall SnackAbility

6
/10

Population: 5,462
Rank Last Year: 9 (Up 5)
Median Income: $94,153
Unemployment Rate: 0.3%
Poverty Rate: 0.8%
More on Byron: Real Estate | Photos

5. Otsego

Overall SnackAbility

6
/10

Population: 16,763
Rank Last Year: 8 (Up 3)
Median Income: $105,290
Unemployment Rate: 1.7%
Poverty Rate: 1.8%
More on Otsego: Real Estate

6. Lino Lakes

Lino Lakes, MN

Source: Public domain
Overall SnackAbility

9.5
/10

Population: 21,404
Rank Last Year: 11 (Up 5)
Median Income: $115,368
Unemployment Rate: 1.9%
Poverty Rate: 2.0%
More on Lino Lakes: Real Estate | Photos

7. Medina

Overall SnackAbility

6
/10

Population: 6,380
Rank Last Year: 4 (Down 3)
Median Income: $148,110
Unemployment Rate: 2.4%
Poverty Rate: 2.0%
More on Medina: Real Estate

8. Chanhassen

Chanhassen, MN

Overall SnackAbility

7.5
/10

Population: 25,657
Rank Last Year: 6 (Down 2)
Median Income: $124,125
Unemployment Rate: 1.8%
Poverty Rate: 3.5%
More on Chanhassen: Real Estate | Photos

9. Waconia

Waconia, MN

Overall SnackAbility

6
/10

Population: 12,131
Rank Last Year: 5 (Down 4)
Median Income: $99,602
Unemployment Rate: 1.5%
Poverty Rate: 2.4%
More on Waconia: Real Estate | Photos

10. Rogers

Rogers, MN

Overall SnackAbility

7
/10

Population: 12,971
Rank Last Year: 10 (No Change)
Median Income: $127,629
Unemployment Rate: 2.4%
Poverty Rate: 2.4%
More on Rogers: Real Estate | Photos

How We Determined The Richest Places In Minnesota For 2021

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 2015-2019 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 146 places with more than 5,000 people in Minnesota, we ranked each place from 1 to 146 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 2021". 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 146 places.

There You Have It - The Wealthiest Places In Minnesota For 2021

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

For more Minnesota reading, check out:

Detailed List Of The Richest Cities In Minnesota

Rank City RichScore Median Income
1 North Oaks 7.0 $178,816
2 St. Michael 9.33 $114,015
3 Corcoran 12.67 $122,075
4 Byron 13.0 $94,153
5 Otsego 13.67 $105,290
6 Lino Lakes 14.33 $115,368
7 Medina 15.33 $148,110
8 Chanhassen 16.0 $124,125
9 Waconia 17.0 $99,602
10 Rogers 18.33 $127,629
11 Albertville 19.33 $85,357
12 Cottage Grove 19.67 $102,039
13 Farmington 21.0 $95,331
14 Andover 23.67 $109,930
15 Oak Grove 24.33 $106,146
16 Woodbury 25.0 $108,539
17 Hugo 25.67 $89,969
18 Victoria 25.67 $152,137
19 Dayton 27.33 $97,652
20 Plymouth 28.17 $105,958
21 Maple Grove 28.33 $109,557
22 Orono 28.67 $159,028
23 Mendota Heights 29.0 $121,214
24 Ham Lake 30.33 $103,655
25 Minnetrista 31.0 $171,786
26 Lakeville 31.33 $110,212
27 Delano 31.33 $101,798
28 Rosemount 31.67 $104,743
29 Kasson 31.67 $76,231
30 Ramsey 32.0 $95,014
31 Prior Lake 34.0 $109,604
32 Stillwater 35.67 $91,350
33 East Bethel 38.0 $93,375
34 Golden Valley 38.67 $98,058
35 Hermantown 38.67 $73,865
36 Savage 40.0 $119,291
37 Minnetonka 40.67 $95,630
38 Champlin 41.0 $92,858
39 Eden Prairie 41.67 $111,981
40 Edina 42.0 $104,244
41 Chaska 43.67 $85,143
42 Lake Elmo 44.33 $118,421
43 Shoreview 44.67 $92,826
44 Big Lake 45.0 $80,889
45 Stewartville 45.67 $63,566
46 Belle Plaine 46.33 $79,513
47 Mound 49.67 $92,964
48 Baxter 50.0 $71,220
49 Mahtomedi 50.83 $105,958
50 St. Louis Park 52.0 $80,627
51 La Crescent 52.67 $65,074
52 Shorewood 53.33 $139,956
53 Apple Valley 53.33 $89,251
54 Wyoming 53.67 $89,967
55 Forest Lake 54.33 $79,840
56 Zimmerman 57.33 $77,222
57 Shakopee 58.0 $87,719
58 St. Anthony 59.67 $73,918
59 Chisago City 60.67 $84,620
60 New Ulm 60.67 $61,597
61 Sartell 60.67 $74,169
62 Hastings 62.33 $71,264
63 Vadnais Heights 63.0 $77,413
64 Blaine 63.67 $84,933
65 White Bear Lake 64.0 $71,709
66 Litchfield 66.33 $56,941
67 Eagan 68.0 $90,515
68 St. Paul Park 69.33 $79,821
69 St. Francis 69.67 $85,219
70 Bloomington 71.33 $75,130
71 Arden Hills 72.0 $91,250
72 Elk River 74.0 $89,596
73 North Branch 76.67 $79,826
74 New Prague 77.33 $77,949
75 Coon Rapids 80.0 $71,267
76 Monticello 80.0 $70,394
77 Oakdale 80.67 $72,511
78 Robbinsdale 80.67 $70,348
79 Isanti 81.33 $75,633
80 Alexandria 81.33 $52,984
81 Brooklyn Park 81.67 $73,940
82 Inver Grove Heights 82.0 $78,347
83 Rochester 83.67 $73,106
84 Richfield 85.33 $66,908
85 Hopkins 85.67 $56,390
86 Roseville 86.33 $71,180
87 Crystal 87.33 $67,342
88 Thief River Falls 87.67 $49,790
89 Buffalo 88.33 $73,955
90 Burnsville 90.67 $73,529
91 Northfield 91.33 $70,148
92 North Mankato 92.33 $67,278
93 Owatonna 92.67 $62,642
94 Hutchinson 93.0 $57,672
95 Maplewood 93.67 $70,484
96 New Hope 94.0 $60,675
97 Morris 94.0 $50,779
98 Fergus Falls 96.0 $43,528
99 New Brighton 96.33 $74,644
100 Fridley 97.67 $63,836

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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.

0 thoughts on “The 10 Richest Cities In Minnesota For 2021

  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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