Austin, Minnesota Income Statistics
Austin Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
C
Austin Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Austin | Minnesota Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,923 | $89,852 | $80,455 |
| Median Personal Income | $48,858 | $67,028 | $60,758 |
| Average Yearly Income Growth | 5.0% | 4.4% | 4.8% |
| Six-Figure Earners | 4.4% | 15.1% | 13.9% |
| $200k+ Households | 4.0% | 13.8% | 13.2% |
The median household income in Austin is about 27% lower than in Minnesota. Income has been growing faster in Austin (5.0%/yr) than in Minnesota (4.4%/yr).
About 4% of adults in Austin earn six figures ($100,000 or more) a year, lower than the Minnesota average of 15%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Austin, Minnesota grew by 62.6% from 2009 to 2024, reaching $65,923 in 2024. That's an average of about 5.0% per year.
Income Inequality and the Gender Pay Gap in Austin
| Metric | Austin | Minnesota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.478 | 0.507 | 0.552 |
| Male Median Income | $52,645 | $74,898 | $69,667 |
| Female Median Income | $50,680 | $62,922 | $56,850 |
| Gender Pay Gap | 3.7% | 16.0% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Austin, it is 0.478, lower than Minnesota's 0.507, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 4% more than women's income in Austin, Minnesota. Over a 35-year career, a 4% wage gap accumulates to roughly $68,775 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Austin, Minnesota has narrowed from about 17% to 4% in 2024. Over that period the gap was widest at 24% in 2015, and was narrowest at 4% in 2023. In dollar terms, the gap has narrowed by $4,438 since 2009.
Employment
| Metric | Austin | Minnesota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 4.1% | 5.2% |
| Working from Home | 5.0% | 17.6% | 15.0% |
| Commute time (minutes) | 11 | 20 | 22 |
Approximately 430 people are unemployed in Austin, Minnesota.
The average commute time in Austin is 11 minutes, shorter than the 20 minutes in Minnesota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Austin, Minnesota has fallen from 5.1% to 4.3% in 2024. Over that period the rate peaked at 8.0% in 2015 and fell as low as 3.5% in 2021.
Conclusion
Considering all these factors, Austin, Minnesota has an overall wealth index grade of C, making it somewhat worse than Minnesota, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Austin, Minnesota.
How Wealthy Is Austin, Minnesota?
Austin has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $65,923, about 27% lower than the Minnesota average of $89,852.
How has median household income changed in Austin, Minnesota?
Between 2009 and 2024, the median household income in Austin, Minnesota rose 63%, from $40,545 to $65,923. Over the same years, income here outpaced Minnesota as a whole: +63% against +57%.
What was the median household income in Austin in 2023?
In 2023, the median household income in Austin, Minnesota was $64,789, up 7% from $60,664 in 2022. The Minnesota median that year was $88,324.
What was the median household income in Austin in 2020?
In 2020, the median household income in Austin, Minnesota was $47,972. By 2024 it had risen 37% to $65,923.
What is the Gini coefficient in Austin, Minnesota?
The Gini coefficient in Austin is 0.478. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Austin, Minnesota?
Since 2009, the income gap between men and women in Austin, Minnesota has narrowed from about 17% to 4% in 2024. Over that period the gap was widest at 24% in 2015, and was narrowest at 4% in 2023. In dollar terms, the gap has narrowed by $4,438 since 2009.
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