Salary Overview for Minnesota
The median individual income in Minnesota is $41,710 per year, while the mean (average) individual income is $53,920. The median household income is $84,313.
Cost of Living Adjusted Salary
Minnesota's cost of living index is 97 (national average = 100). This means the median salary of $41,710 in Minnesota has the purchasing power of approximately $43,000 at the national average cost of living. Your dollar goes further in Minnesota than in most states.
Minimum Wage in Minnesota
The current minimum wage in Minnesota is $11.13/hour, which equals approximately $23,150 per year for a full-time worker (40 hours/week, 52 weeks). See our complete Minnesota minimum wage guide for tipped wages, scheduled increases, and more.
Top Employers in Minnesota
- Mayo Clinic
- UnitedHealth Group
- Target
Major Industries in Minnesota
- Healthcare
- Finance
- Retail
Tax Rates in Minnesota
See the full tax breakdown including income tax, sales tax, property tax, and more on our Minnesota tax rates page.
Calculate Your Take-Home Pay
Use our Salary Calculator to convert between hourly, weekly, monthly, and annual pay, and estimate your take-home pay in Minnesota after federal and state taxes.