Cost of Living in Shakopee, MN
Population 46,012 · Census ACS 2020–2024 5-year estimates
The median rent in Shakopee, MN is $1,531/month, 20% higher than the Minnesota median and 8% higher than the U.S. median. The median home value is $374,800, 13% higher than the national median. Households earn a median of $107,223 a year, 20% higher than the state median.
Affordability
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Shakopee vs. Minnesota vs. U.S.
| Shakopee | Minnesota | U.S. | |
|---|---|---|---|
| Median rent | $1,531 | $1,280 | $1,413 |
| Median home value | $374,800 | $329,300 | $332,700 |
| Median household income | $107,223 | $89,062 | $80,734 |
| Homeownership rate | 74.8% | 72.2% | 65.2% |
| Bachelor's degree or higher | 40.4% | 39.4% | 35.7% |
| Poverty rate | 5.9% | 9.3% | 12.5% |
| Unemployment rate | 3.7% | 4.1% | 5.2% |
| Work from home | 18.3% | 17.6% | 15.1% |
| Median age | 36.6 | 38.8 | 38.9 |
FAQ
What is the average rent in Shakopee, MN?
The median gross rent in Shakopee, MN is $1,531 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Shakopee, MN?
Using the common 30% rule, renting a median-priced home takes about $61,240 a year in gross income.
Is Shakopee, MN expensive to live in?
Rent there is 8% higher than the U.S. median, and the median home costs about 3.5 times the median household income.
Other cities in Minnesota
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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