Minnetonka Hourly Wage & Salary 2026
Minnetonka, MN: $31.03/hr median hourly wage, $64,552 median annual salary, cost of living index 102.1, and $10.85/hr minimum wage. Calculate take-home pay with federal and Minnesota taxes.
Minnetonka Hourly Wage Quick Answer
The median hourly wage in Minnetonka, MN is $31.03/hr, equivalent to $64,552 per year at 2,080 work hours. Entry-level pay estimates around $19.24/hr, senior-level pay estimates around $44.06/hr, and the local minimum wage is $10.85/hr.
Median Salary
$64,552
$31.03/hr
Cost of Living
102.1
US avg = 100
Minimum Wage
$10.85
per hour
Unemployment
3.1%
rate
Minnetonka, MN Overview
Population
53,781
Median Salary
$64,552
Average Salary
$72,298
Avg Commute
17 min
Median Home Price
$334,000
Median Rent
$1,363/mo
Job Growth
+1.8%
Sales Tax
6.875%
Minnetonka is located in Minnesota with a population of 53,781. The median household salary is $64,552 per year ($31.03/hour), which is $5,168 above the national median of $59,384. The average commute time is 17 minutes, and the city has a job growth rate of +1.8%.
Minnetonka Salary by Experience Level (2026)
Wage distribution in Minnetonka, MN based on BLS percentile breakdown of the $64,552 median salary. Entry-level represents 10th–25th percentile; mid-level is the median; senior-level represents 75th–90th percentile.
| Experience Level | Annual Salary | Hourly Wage | Years Exp |
|---|---|---|---|
| Entry-Level | $40,022 | $19.24/hr | 0–2 years |
| Mid-Level (Median) | $64,552 | $31.03/hr | 3–7 years |
| Senior-Level | $91,664 | $44.06/hr | 8–15 years |
| Top 10% (90th Percentile) | $114,903 | $55.23/hr | 15+ years / leadership |
Percentile multipliers (62%, 100%, 142%, 178%) derived from 2024 BLS Occupational Employment and Wage Statistics distribution across all occupations in metro areas. Specific roles vary; see jobs by city for role-specific data.
Minnetonka Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Minnetonka, MN, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$48,980
$4,081.68/month · $1,883.85/biweekly · Effective Rate: 24.1%
Biweekly paycheck estimate: this salary equals about $1,883.85 take-home per paycheck after estimated Minnesota and federal taxes. For the 26-paycheck formula, three-paycheck months, and withholding examples, see the Biweekly Paycheck Calculator.
Gross Pay
$64,552
Federal Tax
-$5,566
State Tax
-$5,067
Local Tax
$0
FICA
-$4,938
Net Pay
$48,980
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,379.33 | $64,552.00 |
| Federal Income Tax | -$463.85 | -$5,566.24 |
| Minnesota State Tax (7.85%) | -$422.28 | -$5,067.33 |
| Social Security (6.2%) | -$333.52 | -$4,002.22 |
| Medicare (1.45%) | -$78.00 | -$936.00 |
| Net Take-Home Pay | $4,081.68 | $48,980.20 |
Salary Comparison: Minnetonka vs Other Cities
See how Minnetonka's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Minnetonka, MN | $64,552 | 102.1 | $63,224 |
| National Average | $59,384 | 100 | $59,384 |
| Billerica, MA | $64,529 | 134.2 | $48,084 |
| Bay Ridge, NY | $64,576 | 132.9 | $48,590 |
| Framingham, MA | $64,509 | 144.2 | $44,736 |
| Des Moines, WA | $64,505 | 104.9 | $61,492 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Minnetonka
Minnetonka's cost of living index is 102.1 (national average = 100). Living in Minnetonka is 2.0999999999999943% more expensive than the national average.
Median Home Price
$334,000
Median Monthly Rent
$1,363
Annual Rent Cost
$16,356
Your Salary's Purchasing Power
Your $48,980 annual take-home pay in Minnetonka has the purchasing power of approximately $47,973 in an average-cost US area. You would need to earn $65,908 in Minnetonka to match a $64,552 salary in an average-cost city.
Top Industries in Minnetonka
Minnetonka's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $64,552.
Salary Tips for Minnetonka Workers
- Maximize pre-tax deductions. With a 7.85% state income tax rate, maximizing 401(k) contributions (up to $24,500 in 2026) and HSA contributions can significantly reduce both your federal and state tax burden.
- Research top industries. Minnetonka's top industries include Healthcare, Finance, Manufacturing. Targeting roles in these sectors can help you earn above the $64,552 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Job Salaries in Minnetonka, MN
Browse occupation-specific salary estimates adjusted for Minnetonka's cost of living. These pages connect national role benchmarks with local take-home pay and market context.
Methodology & Local Economy Data Sources
How we calculate Minnetonka salary data: Our citywide compensation figures aggregate occupation-specific salary data from BLS Occupational Employment and Wage Statistics for the Minnetonka-MN metropolitan statistical area (MSA), weighted by local employment counts. Cost-of-living adjustments use the C2ER Cost of Living Index baseline of 100 (national average), with Minnetonka indexed at 102.1.
- Median salary calculation: weighted average of Minnetonka's occupation-specific medians from BLS OEWS, adjusted for local cost of living. Net result: $64,552 annual median.
- Tax burden reflects Minnesota state income tax (7.85%) (no local income tax), sales tax (6.875%), and federal taxes per IRS 2026 brackets.
- Unemployment rate for Minnetonka: 3.1%, sourced from BLS Local Area Unemployment Statistics (LAUS).
- Top industries: Healthcare, Finance, Manufacturing — based on QCEW employment concentration data.
- Job growth: 1.8% projected through 2034, derived from BLS Employment Projections program for Minnesota.
- Housing context: median home price $334,000, median rent $1,363/mo, sourced from Census American Community Survey 5-year estimates.
Authoritative US data sources for Minnetonka, MN:
- BLS Occupational Employment and Wage Statistics (OEWS) — metropolitan area salary data
- BLS Local Area Unemployment Statistics — Minnetonka unemployment rate
- U.S. Census Bureau — Minnetonka QuickFacts — population, housing, demographics
- BLS Quarterly Census of Employment and Wages (QCEW) — county-level industry employment
- BLS Economy at a Glance — Minnesota — state economic indicators
- U.S. Bureau of Economic Analysis (BEA) — local GDP and personal income data
- BLS Consumer Price Index (CPI-U) — regional inflation tracking
Disclaimer: Salary and cost data are estimates for general guidance. Individual compensation varies by employer, experience, education, negotiation, and skills. Minnetonka's rapidly changing economy can shift these baselines — always verify with current job listings, employer offers, and recent Minnesota labor market reports for the most current figures.
Reviewed by Brazora Monk· Last updated 2026 · BLS & Census data current as of latest releases
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Frequently Asked Questions
What is the hourly wage in Minnetonka, MN?
The median hourly wage in Minnetonka, MN is $31.03 per hour. At a standard 2,080-hour work year, that equals about $64,552 per year. Entry-level workers are estimated around $19.24/hr, while senior-level workers are estimated around $44.06/hr before overtime, bonuses, or benefits.
What is the median salary in Minnetonka, MN?
The median salary in Minnetonka, MN is $64,552 per year, or $31.03 per hour. The average salary is $72,298. This is $5,168 above the national median of $59,384.
What is the cost of living in Minnetonka, MN?
Minnetonka's cost of living index is 102.1 (national average = 100), meaning it is 2.0999999999999943% more expensive compared to the national average. The median home price is $334,000 and the median monthly rent is $1,363.
What are the best industries in Minnetonka?
The top industries in Minnetonka, MN include Healthcare, Finance, Manufacturing. The city has a job growth rate of 1.8% and an unemployment rate of 3.1%. Workers in these industries often earn above the city's median salary of $64,552.
How does Minnetonka's salary compare to other cities?
Minnetonka's median salary of $64,552 is 8.7% above the national median of $59,384. However, when adjusted for cost of living (index: 102.1), the real purchasing power is approximately $63,224.
What is the minimum wage in Minnetonka, MN?
The minimum wage in Minnetonka, MN is $10.85 per hour. This equals approximately $22,568 per year for a full-time worker (40 hours/week). This is $3.60 above the federal minimum wage of $7.25/hour.