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Minneapolis, MN

Minneapolis business statistics
Employer establishments with 1-49 employees
87,894 78,289
Small business growth rate
3% 5.3%
State business tax climate ranking
(out of 50 states)
41 N/A
Percentage of population with bachelor's degree
(ages 25-34)
41.2% 32.7%
Violent crime
(rate per 100,000 inhabitants, 2007)
n/a 537.6
Property crime
(rate per 100,000 inhabitants, 2007)
3,513.7 3,700.0
Population growth
5% 6.38%
Per-capita income
$46,752 $41,342
Per-capita income growth
23% 25.0%
GDP (in millions)
$179,683 $164,601
GDP growth
26% 32%
Average hourly wage
23.01 $21.03
Housing foreclosure rate
(first half of 2009)
90 113
Median rent
(2009, for a 2-bedroom housing unit)
$912 $981
Housing price-to-income (HPI) ratio
(first quarter of 2009)
1.0% 1.8%
Long-term HPI ratio
(20-year average, 1984-2004)
1.62% 1.85%
HPI deviation from long-term average
-21% 0.0%

All statistics are for the full Metropolitan Statistical Area. For a complete list of data sources, see "How we picked the Best Places."

From the November 2009 issue
Best Places Winners


Local smallbiz lenders

  • U.S. Bank
  • Wells Fargo & Company
  • Associated Banc-Corp
  • Bremer Financial Corporation
  • Mesaba Bancshares
See all local lenders

What do you think of Minneapolis?
ireportTell us why: Low taxes? Talented workers? An active small business community? Send us your photos and videos, and you could be featured in our upcoming coverage of reader-picked Best Places to Launch. More
This year we partnered with the Ewing Marion Kauffman Foundation to find the 50 most business-friendly communities in America.

With help from Robert Fairlie, an economist and leading scholar of entrepreneurship at the University of California, Santa Cruz, we developed a methodology and sifted through such data on factors such as per capita income, hourly wages, workforce quality, crime rates, taxes and foreclosures. More

Comments? E-mail the editors
Data partners

This package was produced in partnership with the Ewing Marion Kauffman Foundation.

Foreclosure data provided by RealtyTrac.

Housing price-to-income data provided by Moody's