Chanhassen, Minnesota Income Statistics
Chanhassen 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.
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A+
Chanhassen Top grade
Source: Map AI Methodology
Income Statistics Overview
| Metric | Chanhassen | Minnesota Avg | US Average |
|---|---|---|---|
| Median Household Income | $144,790 | $89,852 | $80,455 |
| Median Personal Income | $102,530 | $67,028 | $60,758 |
| Average Yearly Income Growth | 3.0% | 4.4% | 4.8% |
| Six-Figure Earners | 31.7% | 15.1% | 13.9% |
| $200k+ Households | 35.9% | 13.8% | 13.2% |
The median household income in Chanhassen is about 61% higher than in Minnesota. Income has been growing slower in Chanhassen (3.0%/yr) than in Minnesota (4.4%/yr).
About 32% of adults in Chanhassen earn six figures ($100,000 or more) a year, higher than the Minnesota average of 15%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Chanhassen, Minnesota grew by 48.3% from 2009 to 2024, reaching $144,790 in 2024. That's an average of about 3.0% per year.
Income Inequality and the Gender Pay Gap in Chanhassen
| Metric | Chanhassen | Minnesota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.500 | 0.507 | 0.552 |
| Male Median Income | $119,326 | $74,898 | $69,667 |
| Female Median Income | $89,023 | $62,922 | $56,850 |
| Gender Pay Gap | 25.4% | 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 Chanhassen, it is 0.500, 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 34% more than women's income in Chanhassen, Minnesota. Over a 35-year career, a 34% wage gap accumulates to roughly $1,060,605 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Chanhassen, Minnesota has narrowed from about 37% to 25% in 2024. Over that period the gap was widest at 42% in 2012. In dollar terms, the gap has narrowed by $711 since 2009.
Employment
| Metric | Chanhassen | Minnesota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.3% | 4.1% | 5.2% |
| Working from Home | 29.4% | 17.6% | 15.0% |
| Commute time (minutes) | 21 | 20 | 22 |
Approximately 483 people are unemployed in Chanhassen, Minnesota.
The average commute time in Chanhassen is 21 minutes, longer than the 20 minutes in Minnesota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Chanhassen, Minnesota has fallen from 4.3% to 3.3% in 2024. Over that period the rate peaked at 5.7% in 2013 and fell as low as 1.8% in 2019.
Chanhassen, MN Wealth Compared With Nearby Cities
How Chanhassen, MN compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Chanhassen, MN | 26,585 | $144,790 #1/2 | 3.0%/yr #2/2 | 3.3% #2/2 | 0.500 #2/2 |
| Chaska, MN | 28,048 | $108,985 | 4.5%/yr | 3.2% | 0.487 |
Conclusion
Considering all these factors, Chanhassen, Minnesota has an overall wealth index grade of A+, making it notably better than Minnesota, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Chanhassen, Minnesota.
How Rich Is Chanhassen, Minnesota?
Chanhassen has a wealth index grade of A+. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A+ grade means it is one of the most prosperous areas in the country. The median household income is $144,790, about 61% higher than the Minnesota average of $89,852.
How fast is household income rising in Chanhassen, Minnesota?
Between 2009 and 2024, the median household income in Chanhassen, Minnesota rose 48%, from $97,629 to $144,790. Over the same years, income here lagged behind Minnesota as a whole: +48% against +57%.
What was the median household income in Chanhassen in 2023?
In 2023, the median household income in Chanhassen, Minnesota was $139,747, up 4% from $133,886 in 2022. The Minnesota median that year was $88,324.
What was the median household income in Chanhassen in 2020?
In 2020, the median household income in Chanhassen, Minnesota was $124,031. By 2024 it had risen 17% to $144,790.
Is Chanhassen, Minnesota a high-income area?
Yes. 32% of adults in Chanhassen, Minnesota earn $100,000 or more a year (about 1 in 3), against 15% (about 1 in 7) in Minnesota. 36% of households have a combined income of $200,000 or more, compared with 14% in Minnesota.
What is the Gini coefficient in Chanhassen, Minnesota?
The Gini coefficient in Chanhassen is 0.500. 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 Chanhassen, Minnesota?
Since 2009, the income gap between men and women in Chanhassen, Minnesota has narrowed from about 37% to 25% in 2024. Over that period the gap was widest at 42% in 2012. In dollar terms, the gap has narrowed by $711 since 2009.
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