Savage, Minnesota Income Statistics
Savage 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+
Savage Top grade
Source: Map AI Methodology
Income Statistics Overview
| Metric | Savage | Minnesota Avg | US Average |
|---|---|---|---|
| Median Household Income | $126,034 | $89,852 | $80,455 |
| Median Personal Income | $80,289 | $67,028 | $60,758 |
| Average Yearly Income Growth | 3.1% | 4.4% | 4.8% |
| Six-Figure Earners | 23.3% | 15.1% | 13.9% |
| $200k+ Households | 26.3% | 13.8% | 13.2% |
The median household income in Savage is about 40% higher than in Minnesota. Income has been growing slower in Savage (3.1%/yr) than in Minnesota (4.4%/yr).
About 23% of adults in Savage 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 Savage, Minnesota grew by 38.7% from 2009 to 2024, reaching $126,034 in 2024. That's an average of about 3.1% per year.
Income Inequality and the Gender Pay Gap in Savage
| Metric | Savage | Minnesota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.482 | 0.507 | 0.552 |
| Male Median Income | $92,653 | $74,898 | $69,667 |
| Female Median Income | $76,150 | $62,922 | $56,850 |
| Gender Pay Gap | 17.8% | 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 Savage, it is 0.482, 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 22% more than women's income in Savage, Minnesota. Over a 35-year career, a 22% wage gap accumulates to roughly $577,605 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Savage, Minnesota has narrowed from about 27% to 18% in 2024. Over that period the gap was widest at 34% in 2019. In dollar terms, the gap has narrowed by $185 since 2009.
Employment
| Metric | Savage | Minnesota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.3% | 4.1% | 5.2% |
| Working from Home | 22.3% | 17.6% | 15.0% |
| Commute time (minutes) | 23 | 20 | 22 |
Approximately 1,063 people are unemployed in Savage, Minnesota.
The average commute time in Savage is 23 minutes, longer than the 20 minutes in Minnesota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Savage, Minnesota has fallen from 6.2% to 5.3% in 2024. Over that period the rate peaked at 7.0% in 2012 and fell as low as 2.9% in 2019.
Savage, MN Wealth Compared With Nearby Cities
Savage, MN is the 4th largest of the 5 cities compared here, 32,874 residents against a local median of 54,363. The measure that sets Savage, MN apart most is median household income: $126,034, 26% above the local median of $100,304. That is the better end of the local range on this measure.
Unemployment tells the same story from another angle: 5.3% against a local median of 4.3%, 24% above it. The picture is mixed rather than uniform: median household income runs ahead of the neighbourhood while unemployment runs behind it, so Savage, MN is trading one against the other rather than simply out-performing what surrounds it. The cities themselves spread $42,911 on median household income, so Savage, MN sits at one end of an already wide local range rather than apart from it. Savage, MN has the 2nd highest median household income of the 5 areas compared here.
| 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. |
|---|---|---|---|---|---|
| Savage, MN | 32,874 | $126,034 #2/5 | 3.1%/yr #5/5 | 5.3% #5/5 | 0.482 #1/5 |
| Prior Lake, MN | 23,998 | $129,729 | 3.8%/yr | 1.7% | 0.497 |
| Burnsville, MN | 64,463 | $86,818 | 3.5%/yr | 5.0% | 0.499 |
| Bloomington, MN | 88,700 | $93,168 | 4.1%/yr | 4.8% | 0.503 |
| Shakopee, MN | 44,264 | $107,440 | 4.3%/yr | 3.8% | 0.516 |
Conclusion
Considering all these factors, Savage, 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 Savage, Minnesota.
How Rich Is Savage, Minnesota?
Savage 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 $126,034, about 40% higher than the Minnesota average of $89,852.
How fast is household income rising in Savage, Minnesota?
Between 2009 and 2024, the median household income in Savage, Minnesota rose 39%, from $90,892 to $126,034. Over the same years, income here lagged behind Minnesota as a whole: +39% against +57%.
What was the median household income in Savage in 2023?
In 2023, the median household income in Savage, Minnesota was $121,736, down 1% from $123,409 in 2022. The Minnesota median that year was $88,324.
What was the median household income in Savage in 2020?
In 2020, the median household income in Savage, Minnesota was $114,634. By 2024 it had risen 10% to $126,034.
Do many residents of Savage, Minnesota earn over $100,000?
Yes. 23% of adults in Savage, Minnesota earn $100,000 or more a year (about 1 in 4), against 15% (about 1 in 7) in Minnesota. 26% of households have a combined income of $200,000 or more, compared with 14% in Minnesota.
Is it hard to find a job in Savage, Minnesota?
Unemployment in Savage, Minnesota is 5.3%, well above the Minnesota rate of 4.1%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Savage, Minnesota?
The Gini coefficient in Savage is 0.482. 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 Savage, Minnesota?
Since 2009, the income gap between men and women in Savage, Minnesota has narrowed from about 27% to 18% in 2024. Over that period the gap was widest at 34% in 2019. In dollar terms, the gap has narrowed by $185 since 2009.
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