Minneapolis-St. Paul is among the top ten U.S. markets with the most six-figure earners
The Minneapolis-St. Paul metro is in the top ten highest-earning markets in the nation, and the only high-income metro that is not on the East or West coast.
January 23, 2019
- Nearly one-quarter (22.5 percent) of the tax returns submitted by Twin Cities’ residents report incomes of $100,000 or greater. This places the Minneapolis-St. Paul metro in the top ten highest-earning markets in the nation, and the only high-income metro that is not on the East or West coast. The other large metros on the top ten list also happen to have notoriously expensive living costs, including: San Jose, San Francisco, Washington DC, and Seattle.
- Minneapolis’ high-value economy attracts occupiers and investors alike. National and international firms can retain talent easier than markets where the cost of living is rapidly escalating. Likewise, institutional investors appreciate the Twin Cities’ stable economy with steady growth but few risk factors.
Source: JLL Research, SmartAsset analysis of IRS data