Wealth Index
Among the top 3 wealthiest counties in Minnesota
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Scott County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Household Income | $120,751 | $88,383 | $78,145 |
| Median Personal Income | $77,930 | $67,709 | $61,726 |
| Average income growth | 4.2% | 4.8% | 5.1% |
| Six-Figure Earners | 20.6% | 14.5% | 13.2% |
The median household income in Scott County is about 37% higher than in Minnesota. Income has been growing slower in Scott County (4.2%/yr) than in Minnesota (4.8%/yr).
About 21% of adults in Scott County earn six figures ($100,000 or more) a year, higher than the Minnesota average of 14%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Scott County, Minnesota grew by 45.3% from 2009 to 2023, reaching $120,751 in 2023. That's an average of about 4.2% per year.
Economic Inequality in Scott County | Gender Pay Gap | Gini Coefficient
| Metric | Scott County | Minnesota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.519 | 0.520 | 0.570 |
| Male Median Income | $86,216 | $73,285 | $67,746 |
| Female Median Income | $68,143 | $61,000 | $54,793 |
| Gender Pay Gap | 21.0% | 16.8% | 19.1% |
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 Scott County, it is 0.519, about the same as Minnesota's 0.520, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 27% more than women's income in Scott County, Minnesota. Over a 35-year career, a 27% wage gap accumulates to roughly $632,555 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Scott County, Minnesota has narrowed from about 27% to 21% in 2023. In dollar terms, the gap has widened by $1,955 since 2009.
Employment
| Metric | Scott County | Minnesota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.0% | 3.9% | 5.2% |
| Working from Home | 17.7% | 15.9% | 13.4% |
| Commute time (minutes) | 23 | 20 | 22 |
Approximately 2,633 people are unemployed in Scott County, Minnesota.
The average commute time in Scott County is 23 minutes, longer than the 20 minutes in Minnesota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Scott County, Minnesota has fallen from 5.9% to 3.0% in 2023.
Conclusion
Considering all these factors, Scott County, 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 Scott County, Minnesota.
How Rich Is Scott County, Minnesota?
Scott County 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 $120,751, about 37% higher than the Minnesota average of $88,383.
What is the current median household income in Scott County, Minnesota?
As of 2023, the median household income in Scott County, Minnesota is $120,751.
What was the median household income in Scott County in 2023?
In 2023, the median household income in Scott County, Minnesota was $120,751.
What was the median household income in Scott County in 2020?
In 2020, the median household income in Scott County, Minnesota was $102,714.
What is the Gini coefficient in Scott County, Minnesota?
The Gini coefficient in Scott County is 0.519. 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 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Scott County, Minnesota?
Since 2009, the income gap between men and women in Scott County, Minnesota has narrowed from about 27% to 21% in 2023. In dollar terms, the gap has widened by $1,955 since 2009.