Ramsey, Minnesota Income Statistics
Ramsey 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.
-
A
Ramsey Above average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Ramsey | Minnesota Avg | US Average |
|---|---|---|---|
| Median Household Income | $113,757 | $89,852 | $80,455 |
| Median Personal Income | $71,722 | $67,028 | $60,758 |
| Average Yearly Income Growth | 2.9% | 4.4% | 4.8% |
| Six-Figure Earners | 17.7% | 15.1% | 13.9% |
| $200k+ Households | 14.8% | 13.8% | 13.2% |
The median household income in Ramsey is about 27% higher than in Minnesota. Income has been growing slower in Ramsey (2.9%/yr) than in Minnesota (4.4%/yr).
About 18% of adults in Ramsey 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 Ramsey, Minnesota grew by 40.5% from 2009 to 2024, reaching $113,757 in 2024. That's an average of about 2.9% per year.
Income Inequality and the Gender Pay Gap in Ramsey
| Metric | Ramsey | Minnesota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.473 | 0.507 | 0.552 |
| Male Median Income | $84,033 | $74,898 | $69,667 |
| Female Median Income | $70,210 | $62,922 | $56,850 |
| Gender Pay Gap | 16.4% | 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 Ramsey, it is 0.473, 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 20% more than women's income in Ramsey, Minnesota. Over a 35-year career, a 20% wage gap accumulates to roughly $483,805 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Ramsey, Minnesota has narrowed from about 21% to 16% in 2024. Over that period the gap was narrowest at 14% in 2016. In dollar terms, the gap has widened by $2,354 since 2009.
Employment
| Metric | Ramsey | Minnesota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 4.1% | 5.2% |
| Working from Home | 17.3% | 17.6% | 15.0% |
| Commute time (minutes) | 26 | 20 | 22 |
Approximately 674 people are unemployed in Ramsey, Minnesota.
The average commute time in Ramsey is 26 minutes, longer than the 20 minutes in Minnesota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Ramsey, Minnesota has fallen from 5.7% to 4.3% in 2024. Over that period the rate peaked at 6.7% in 2013 and fell as low as 2.5% in 2017.
Ramsey, MN Wealth Compared With Nearby Cities
How Ramsey, 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. |
|---|---|---|---|---|---|
| Ramsey, MN | 28,458 | $113,757 #3/3 | 2.9%/yr #3/3 | 4.3% #3/3 | 0.473 #1/3 |
| Champlin, MN | 23,225 | $115,165 | 4.1%/yr | 3.6% | 0.485 |
| Andover, MN | 33,035 | $137,397 | 4.0%/yr | 2.8% | 0.490 |
Conclusion
Considering all these factors, Ramsey, Minnesota has an overall wealth index grade of A, making it somewhat better than Minnesota, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Ramsey, Minnesota.
How Rich Is Ramsey, Minnesota?
Ramsey 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 residents are much better off than the U.S. average. The median household income is $113,757, about 27% higher than the Minnesota average of $89,852.
Are incomes growing in Ramsey, Minnesota?
Between 2009 and 2024, the median household income in Ramsey, Minnesota rose 41%, from $80,964 to $113,757. Over the same years, income here lagged behind Minnesota as a whole: +41% against +57%.
What was the median household income in Ramsey in 2023?
In 2023, the median household income in Ramsey, Minnesota was $111,828, up 1% from $110,659 in 2022. The Minnesota median that year was $88,324.
What was the median household income in Ramsey in 2020?
In 2020, the median household income in Ramsey, Minnesota was $97,233. By 2024 it had risen 17% to $113,757.
What is the Gini coefficient in Ramsey, Minnesota?
The Gini coefficient in Ramsey is 0.473. 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 Ramsey, Minnesota?
Since 2009, the income gap between men and women in Ramsey, Minnesota has narrowed from about 21% to 16% in 2024. Over that period the gap was narrowest at 14% in 2016. In dollar terms, the gap has widened by $2,354 since 2009.
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