Minot, North Dakota Income Statistics
Minot 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.
-
B
Minot Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Minot | North Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $75,539 | $76,862 | $80,455 |
| Median Personal Income | $58,078 | $59,016 | $60,758 |
| Average Yearly Income Growth | 2.3% | 3.3% | 4.8% |
| Six-Figure Earners | 12.1% | 12.1% | 13.9% |
| $200k+ Households | 9.4% | 9.6% | 13.2% |
The median household income in Minot is about 2% lower than in North Dakota. Income has been growing slower in Minot (2.3%/yr) than in North Dakota (3.3%/yr).
About 12% of adults in Minot earn six figures ($100,000 or more) a year, about the same as the North Dakota average of 12%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Minot, North Dakota grew by 70.4% from 2009 to 2024, reaching $75,539 in 2024. That's an average of about 2.3% per year.
Income Inequality and the Gender Pay Gap in Minot
| Metric | Minot | North Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.500 | 0.506 | 0.552 |
| Male Median Income | $65,323 | $67,903 | $69,667 |
| Female Median Income | $54,036 | $53,536 | $56,850 |
| Gender Pay Gap | 17.3% | 21.2% | 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 Minot, it is 0.500, lower than North Dakota's 0.506, 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 21% more than women's income in Minot, North Dakota. Over a 35-year career, a 21% wage gap accumulates to roughly $395,045 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Minot, North Dakota has narrowed from about 27% to 17% in 2024. Over that period the gap was widest at 29% in 2010, and was narrowest at 16% in 2023. In dollar terms, the gap has widened by $485 since 2009.
Employment
| Metric | Minot | North Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.1% | 2.7% | 5.2% |
| Working from Home | 5.7% | 8.1% | 15.0% |
| Commute time (minutes) | 13 | 13 | 22 |
Approximately 685 people are unemployed in Minot, North Dakota.
The average commute time in Minot is 13 minutes, about the same as in North Dakota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Minot, North Dakota has risen from 2.7% to 3.1% in 2024. Over that period the rate peaked at 4.3% in 2021 and fell as low as 2.2% in 2016.
Conclusion
Considering all these factors, Minot, North Dakota has an overall wealth index grade of B, making it somewhat better than North Dakota, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Minot, North Dakota.
How Rich Is Minot, North Dakota?
Minot has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $75,539, about 2% lower than the North Dakota average of $76,862.
How fast is household income rising in Minot, North Dakota?
Between 2009 and 2024, the median household income in Minot, North Dakota rose 70%, from $44,331 to $75,539. Over the same years, income here kept pace with North Dakota as a whole: +70% against +70%.
What was the median household income in Minot in 2023?
In 2023, the median household income in Minot, North Dakota was $78,052, down 1% from $78,475 in 2022. The North Dakota median that year was $76,063.
What was the median household income in Minot in 2020?
In 2020, the median household income in Minot, North Dakota was $65,662. By 2024 it had risen 15% to $75,539.
What is the Gini coefficient in Minot, North Dakota?
The Gini coefficient in Minot is 0.500. 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 Minot, North Dakota?
Since 2009, the income gap between men and women in Minot, North Dakota has narrowed from about 27% to 17% in 2024. Over that period the gap was widest at 29% in 2010, and was narrowest at 16% in 2023. In dollar terms, the gap has widened by $485 since 2009.
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