Otsego, Minnesota Income Statistics
Otsego 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+
Otsego Top grade
Source: Map AI Methodology
Income Statistics Overview
| Metric | Otsego | Minnesota Avg | US Average |
|---|---|---|---|
| Median Household Income | $123,682 | $89,852 | $80,455 |
| Median Personal Income | $71,689 | $67,028 | $60,758 |
| Average Yearly Income Growth | 4.2% | 4.4% | 4.8% |
| Six-Figure Earners | 18.9% | 15.1% | 13.9% |
| $200k+ Households | 18.4% | 13.8% | 13.2% |
The median household income in Otsego is about 38% higher than in Minnesota. Income has been growing slower in Otsego (4.2%/yr) than in Minnesota (4.4%/yr).
About 19% of adults in Otsego 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 Otsego, Minnesota grew by 60.0% from 2009 to 2024, reaching $123,682 in 2024. That's an average of about 4.2% per year.
Income Inequality and the Gender Pay Gap in Otsego
| Metric | Otsego | Minnesota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.472 | 0.507 | 0.552 |
| Male Median Income | $86,538 | $74,898 | $69,667 |
| Female Median Income | $65,582 | $62,922 | $56,850 |
| Gender Pay Gap | 24.2% | 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 Otsego, it is 0.472, 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 32% more than women's income in Otsego, Minnesota. Over a 35-year career, a 32% wage gap accumulates to roughly $733,460 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Otsego, Minnesota has widened from about 22% to 24% in 2024. Over that period the gap was widest at 35% in 2017, and was narrowest at 18% in 2023. In dollar terms, the gap has widened by $8,290 since 2009.
Sharply against the trend: the pay gap in Otsego widened by 2.6 points while Minnesota's narrowed by 7.1 points.
Employment
| Metric | Otsego | Minnesota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.8% | 4.1% | 5.2% |
| Working from Home | 14.0% | 17.6% | 15.0% |
| Commute time (minutes) | 31 | 20 | 22 |
Approximately 217 people are unemployed in Otsego, Minnesota.
The average commute time in Otsego is 31 minutes, longer than the 20 minutes in Minnesota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Otsego, Minnesota has fallen from 7.5% to 1.8% in 2024. Over that period the rate peaked at 8.3% in 2012 and fell as low as 1.5% in 2021.
Otsego, MN Wealth Compared With Nearby Cities
How Otsego, MN compares with the 2 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. |
|---|---|---|---|---|---|
| Otsego, MN | 20,942 | $123,682 #2/3 | 4.2%/yr #2/3 | 1.8% #2/3 | 0.472 #1/3 |
| Elk River, MN | 27,601 | $109,389 | 4.0%/yr | 1.5% | 0.487 |
| St. Michael, MN | 25,386 | $136,727 | 5.0%/yr | 1.9% | 0.473 |
Conclusion
Considering all these factors, Otsego, Minnesota has an overall wealth index grade of A+, making it somewhat better than Minnesota, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Otsego, Minnesota.
How Wealthy Is Otsego, Minnesota?
Otsego 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 $123,682, about 38% higher than the Minnesota average of $89,852.
Are incomes growing in Otsego, Minnesota?
Between 2009 and 2024, the median household income in Otsego, Minnesota rose 60%, from $77,317 to $123,682. Over the same years, income here outpaced Minnesota as a whole: +60% against +57%.
What was the median household income in Otsego in 2023?
In 2023, the median household income in Otsego, Minnesota was $126,314, up 1% from $125,075 in 2022. The Minnesota median that year was $88,324.
What was the median household income in Otsego in 2020?
In 2020, the median household income in Otsego, Minnesota was $108,373. By 2024 it had risen 14% to $123,682.
Is unemployment high in Otsego, Minnesota?
Unemployment in Otsego, Minnesota is only 1.8%, well below the Minnesota rate of 4.1%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Otsego, Minnesota?
The Gini coefficient in Otsego is 0.472. 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 Otsego, Minnesota?
Since 2009, the income gap between men and women in Otsego, Minnesota has widened from about 22% to 24% in 2024. Over that period the gap was widest at 35% in 2017, and was narrowest at 18% in 2023. In dollar terms, the gap has widened by $8,290 since 2009.
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