Minnetonka city, MN

ZIP 55305 — Economy & Jobs

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Income, employment, industries, and economic trends

Income & Economy in Minnetonka city, MN (55305)

Median Income

$106,480

*Adjusted for inflation (2023 dollars)

IRS Net Migration

+1,510

Wealth inflow

Population

21,274

Unemployment

2.0%

1.7pp below US avg

IRS migration statistics show a net inflow of about 1,510 for ZIP 55305 (Minnetonka city, MN) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.

Economic Indicators

Unemployment

2.0%-45% vs US avg

Self-Employed

1.8%-70% vs US avg

SNAP Benefits

3.9%-67% vs US avg

942

Establishments

18,218

Employees

~19 per establishment — small businesses dominate

Manufacturing

Top Industry

Economic Distributions

Census ACS 5-Year (P0): occupation, industry, household income brackets.

Occupation

Industry

Agriculture, forestry, mining0.2%
Construction2.8%
Manufacturing14.8%
Wholesale trade4.0%
Retail trade11.1%
Transportation, utilities3.2%
Information1.5%
Finance, insurance, real estate13.8%
Professional, scientific, management16.6%
Education, health care, social20.4%
Arts, entertainment, food services6.8%
Other services2.6%
Public administration2.1%

Household Income

Historical Trends in 55305 (2020–Present)

Since 2020, population declined 0.3%, median income rose 3.4% (inflation-adjusted), home values increased 8.1%.

Median Income

$106,480

+42% vs US avg

Unemployment Rate