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Twin Cities’ median household income expected to increase 10% across all age ranges by 2022

  • ​When considering growing economic opportunity and projected inflation, median household income for the Minneapolis-St. Paul metro is expected to increase an average of 10 percent within the next five years. Millennials are expected to capture the largest share of that income growth with an anticipated increase of 13-14% in earnings by 2022 amongst workers aged 25 to 44.
  • Baby Boomers in the Twin Cities are also expected to fare well as they approach retirement age. While earnings have historically decreased among those aged 65 to 74, fewer Boomers are retiring at the same rate their parents did. An average 67 year old today may expect to see his or her household income increase nearly $8,000 by the time of his or her 72nd birthday.
  • Locally, the highest earning demographic includes those who are 45 to 54 years old, with a median income of $92,553. If economic growth remains on track, expect to see a dramatic increase to $102,381 by 2022. ​

Source: JLL Research, ESRI analysis of Census data​




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