Average Income in Minneapolis, MN
About Minneapolis, Minnesota
Minneapolis anchors a two-city metro with a diverse economy including healthcare, technology, retail headquarters, and finance across 16 ZIP codes. UnitedHealth Group, Target, Best Buy, and other Fortune 500 companies headquarter here, creating executive and professional employment. Mayo Clinic (Rochester nearby) and Hennepin Healthcare provide substantial employment. The Carlson School and other business education centers support professional development. Technology startups have flourished in the Mill District and surrounding neighborhoods. The Mississippi riverfront and cultural institutions attract creative professionals. Downtown Minneapolis and Northeast neighborhoods offer mixed-income housing, while western suburbs concentrate affluent families. Minnesota's progressive income tax (up to 10.85%) creates higher tax burden for earners exceeding $288,000. Housing costs have risen significantly, straining lower-income renters despite strong employment markets. The metro's corporate headquarters concentration provides higher-wage opportunities compared to many Midwest cities.
All 19 ZIP Codes in Minneapolis, MN
| ZIP Code | Avg AGI ▼ | Returns | National Rank | % Under $25K | % Over $200K |
|---|---|---|---|---|---|
| 55402 | $751,393 | 820 | #45 | 15.9% | 28.1% |
| 55415 | $188,665 | 3,270 | #1,020 | 16.2% | 20.5% |
| 55401 | $155,895 | 7,860 | #1,591 | 10.8% | 14.9% |
| 55419 | $145,262 | 13,620 | #1,882 | 20.0% | 20.4% |
| 55405 | $122,173 | 7,700 | #2,786 | 24.0% | 11.7% |
| 55403 | $103,841 | 8,950 | #4,235 | 24.6% | 8.0% |
| 55417 | $98,400 | 13,390 | #4,869 | 19.0% | 11.0% |
| 55409 | $92,389 | 6,140 | #5,820 | 22.3% | 9.6% |
| 55413 | $84,078 | 8,140 | #7,592 | 19.4% | 6.0% |
| 55418 | $81,920 | 16,520 | #8,206 | 21.4% | 6.7% |
| 55406 | $81,051 | 18,510 | #8,455 | 22.4% | 6.4% |
| 55414 | $69,152 | 11,860 | #13,404 | 38.3% | 5.5% |
| 55408 | $67,707 | 17,490 | #14,140 | 26.6% | 4.4% |
| 55407 | $62,998 | 17,480 | #16,826 | 27.2% | 3.5% |
| 55412 | $52,594 | 10,220 | #23,022 | 29.4% | 1.4% |
| 55404 | $47,397 | 11,160 | #25,209 | 37.8% | 2.0% |
| 55411 | $44,915 | 11,670 | #25,899 | 37.7% | 1.2% |
| 55454 | $36,005 | 2,900 | #27,201 | 49.3% | 0.7% |
| 55455 | $17,572 | 110 | #27,583 | 72.7% | 0.0% |
Nearby Major Cities
Closest cities with 50,000+ tax returns filed, sorted by distance from Minneapolis.
| City | State | Avg AGI | Returns | ZIPs | Distance |
|---|---|---|---|---|---|
| Brooklyn Center | MN | $63,394 | 52,010 | 4 | 7 mi |
| Saint Paul | MN | $84,722 | 96,050 | 8 | 7 mi |
| Rochester | MN | $95,397 | 67,880 | 4 | 78 mi |
| Sioux Falls | SD | $81,804 | 76,110 | 5 | 197 mi |
| Cedar Rapids | IA | $81,017 | 67,890 | 6 | 221 mi |
| Madison | WI | $98,052 | 126,460 | 10 | 233 mi |
| Des Moines | IA | $69,159 | 78,230 | 9 | 235 mi |
| Appleton | WI | $86,320 | 63,610 | 4 | 242 mi |
| Green Bay | WI | $87,144 | 53,620 | 3 | 262 mi |
| Rockford | IL | $61,024 | 82,110 | 8 | 281 mi |