Wealth Index
Wealthier than 94% of 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 | Sherburne County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Household Income | $103,016 | $88,383 | $78,145 |
| Median Personal Income | $69,958 | $67,709 | $61,726 |
| Average income growth | 4.1% | 4.8% | 5.1% |
| Six-Figure Earners | 13.7% | 14.5% | 13.2% |
The median household income in Sherburne County is about 17% higher than in Minnesota. Income has been growing slower in Sherburne County (4.1%/yr) than in Minnesota (4.8%/yr).
About 14% of adults in Sherburne County earn six figures ($100,000 or more) a year, lower than the Minnesota average of 14%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Sherburne County, Minnesota grew by 45.2% from 2009 to 2023, reaching $103,016 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Sherburne County | Gender Pay Gap | Gini Coefficient
| Metric | Sherburne County | Minnesota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.508 | 0.520 | 0.570 |
| Male Median Income | $75,830 | $73,285 | $67,746 |
| Female Median Income | $61,995 | $61,000 | $54,793 |
| Gender Pay Gap | 18.2% | 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 Sherburne County, it is 0.508, lower than Minnesota's 0.520, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 22% more than women's income in Sherburne County, Minnesota. Over a 35-year career, a 22% wage gap accumulates to roughly $484,225 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Sherburne County, Minnesota has narrowed from about 29% to 18% in 2023. In dollar terms, the gap has narrowed by $1,578 since 2009.
Employment
| Metric | Sherburne County | Minnesota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.3% | 3.9% | 5.2% |
| Working from Home | 12.0% | 15.9% | 13.4% |
| Commute time (minutes) | 30 | 20 | 22 |
Approximately 1,807 people are unemployed in Sherburne County, Minnesota.
The average commute time in Sherburne County is 30 minutes, longer than the 20 minutes in Minnesota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Sherburne County, Minnesota has fallen from 7.2% to 3.3% in 2023.
Conclusion
Considering all these factors, Sherburne 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 Sherburne County, Minnesota.
How Rich Is Sherburne County, Minnesota?
Sherburne 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 $103,016, about 17% higher than the Minnesota average of $88,383.
What is the current median household income in Sherburne County, Minnesota?
As of 2023, the median household income in Sherburne County, Minnesota is $103,016.
What was the median household income in Sherburne County in 2023?
In 2023, the median household income in Sherburne County, Minnesota was $103,016.
What was the median household income in Sherburne County in 2020?
In 2020, the median household income in Sherburne County, Minnesota was $87,845.
What is the Gini coefficient in Sherburne County, Minnesota?
The Gini coefficient in Sherburne County is 0.508. 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 Sherburne County, Minnesota?
Since 2009, the income gap between men and women in Sherburne County, Minnesota has narrowed from about 29% to 18% in 2023. In dollar terms, the gap has narrowed by $1,578 since 2009.