Everything You Need to Know About the City of Minneapolis Minnesota

In 2018, Minneapolis, Minnesota had a population of 425k people with a median age of 32.2 and a median household income of $63,590 dollars. Between 2017 and 2018 the population of Minneapolis, MN grew from 422,326 to 425,395, a 0.727 percent raise and its median household income grew from $60,789 dollars to $63,590 dollars, a 4.61 percent increase.

The population of Minneapolis, MN is 59.3% White Alone, 19.3% Black or African American Alone, and 9.62% Hispanic or Latino. N/A% of the population in Minneapolis, MN speak a non-English language, and 91.5 percent are U.S. citizens.

The largest universities in Minneapolis, MN are University of Minnesota-Twin Cities (14,275 degrees awarded in 2017), Walden University (12,372 degrees), and Capella University (9,072 degrees).

The median property value in Minneapolis, MN is $269,500 dollars, and the homeownership rate is 47.7 percent. Most people in Minneapolis, MN commute by Drove Alone, and the average commute time is 22.3 minutes. The average vehicle ownership in Minneapolis, MN is 2 cars per household.


Education in Minneapolis

In 2017, universities in Minneapolis, MN awarded 40,160 degrees. The student population of Minneapolis, MN is skewed towards women, with 50,364 male students and 102,928 female students.

Most students graduating from Universities in Minneapolis, MN are White (22,049 and 58.7%), followed by Black or African American (7,405 and 19.7%), Unknown (2,815 and 7.49%), and Hispanic or Latino (2,026 and 5.39%).

The largest universities in Minneapolis, MN by the number of degrees awarded are University of Minnesota-Twin Cities (14,275 and 35.5%), Walden University (12,372 and 30.8%), and Capella University (9,072 and 22.6%).

The most popular majors in Minneapolis, MN are Registered Nursing (4,908 and 12.2%), General Business Administration & Management (2,454 and 6.11%), and General Education (2,113 and 5.26%).

The median tuition costs in Minneapolis, MN are $22,850 for private four-year colleges, and $12,800 and $24,986 respectively, for public four-year colleges for in-state students and out-of-state students.


Economy in Minneapolis

The economy of Minneapolis, MN employs 244k people and Minneapolis has an unemployment rate of 2.5 percent. Minneapolis has seen the job market increase by 1.8 percent over the last year. Future job growth over the next ten years is predicted to be 36.7 percent, which is higher than the US average of 33.5 percent. The biggest industries in Minneapolis, MN are Health Care & Social Assistance (38,110 people), Professional, Scientific, & Technical Services (29,817 people), and Educational Services (27,614 people), and the highest paying industries are Finance & Insurance ($75,967 dollars), Utilities ($73,308 dollars), and Professional, Scientific, & Technical Services ($68,430 dollars).

Households in Minneapolis, MN have a median annual income of $63,590 dollars, which is more than the median annual income of $61,937 dollars across the entire United States. This is in comparison to a median income of $60,789 dollars in 2017, which represents a 4.61 percent annual growth.


Tax Rates for Minneapolis

– The Sales Tax Rate for Minneapolis is 8.0 percent.

– The Income Tax Rate for Minneapolis is 7.1 percent. 

– Tax Rates can have a big impact when comparing the Cost of Living.


Income and Salaries for Minneapolis

– The average income of a Minneapolis resident is $32,232 dollars a year. 

– The Median household income of a Minneapolis resident is $50,767 dollars a year.