Salary & Cost of Living in Ramsey, MN
Ramsey, MN: $62,878 median salary, cost of living index 94.1, $10.85/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$62,878
$30/hr
Cost of Living
94.1
US avg = 100
Minimum Wage
$10.85
per hour
Unemployment
2.6%
rate
Ramsey, MN Overview
Population
28,252
Median Salary
$62,878
Average Salary
$70,423
Avg Commute
17 min
Median Home Price
$301,000
Median Rent
$1,218/mo
Job Growth
+1.3%
Sales Tax
6.875%
Ramsey is located in Minnesota with a population of 28,252. The median household salary is $62,878 per year ($30/hour), which is $3,494 above the national median of $59,384. The average commute time is 17 minutes, and the city has a job growth rate of +1.3%.
Ramsey Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Ramsey, MN, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$47,625
$3,968.75/month · $1,831.73/biweekly · Effective Rate: 24.3%
Gross Pay
$62,878
Federal Tax
-$5,507
State Tax
-$4,936
Local Tax
$0
FICA
-$4,810
Net Pay
$47,625
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,239.83 | $62,878.00 |
| Federal Income Tax | -$458.91 | -$5,506.86 |
| Minnesota State Tax (7.85%) | -$411.33 | -$4,935.92 |
| Social Security (6.2%) | -$324.87 | -$3,898.44 |
| Medicare (1.45%) | -$75.98 | -$911.73 |
| Net Take-Home Pay | $3,968.75 | $47,625.05 |
Salary Comparison: Ramsey vs Other Cities
See how Ramsey's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Ramsey, MN | $62,878 | 94.1 | $66,820 |
| National Average | $59,384 | 100 | $59,384 |
| Fountain, CO | $62,882 | 104.3 | $60,290 |
| Woodbridge, VA | $62,850 | 106.5 | $59,014 |
| Mount Laurel, NJ | $62,908 | 122.4 | $51,395 |
| Leominster, MA | $62,910 | 132.8 | $47,372 |
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 Ramsey
Ramsey's cost of living index is 94.1 (national average = 100). Living in Ramsey is 5.900000000000006% less expensive than the national average.
Median Home Price
$301,000
Median Monthly Rent
$1,218
Annual Rent Cost
$14,616
Your Salary's Purchasing Power
Your $47,625 annual take-home pay in Ramsey has the purchasing power of approximately $50,611 in an average-cost US area. Your $62,878 salary stretches further here than in most US cities.
Top Industries in Ramsey
Ramsey's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $62,878.
Salary Tips for Ramsey Workers
- Maximize pre-tax deductions. With a 7.85% state income tax rate, maximizing 401(k) contributions (up to $23,500 in 2026) and HSA contributions can significantly reduce both your federal and state tax burden.
- Research top industries. Ramsey's top industries include Healthcare, Finance, Manufacturing. Targeting roles in these sectors can help you earn above the $62,878 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.
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Frequently Asked Questions
What is the median salary in Ramsey, MN?
The median salary in Ramsey, MN is $62,878 per year, or $30 per hour. The average salary is $70,423. This is $3,494 above the national median of $59,384.
What is the cost of living in Ramsey, MN?
Ramsey's cost of living index is 94.1 (national average = 100), meaning it is 5.900000000000006% less expensive compared to the national average. The median home price is $301,000 and the median monthly rent is $1,218.
What are the best industries in Ramsey?
The top industries in Ramsey, MN include Healthcare, Finance, Manufacturing. The city has a job growth rate of 1.3% and an unemployment rate of 2.6%. Workers in these industries often earn above the city's median salary of $62,878.
How does Ramsey's salary compare to other cities?
Ramsey's median salary of $62,878 is 5.9% above the national median of $59,384. However, when adjusted for cost of living (index: 94.1), the real purchasing power is approximately $66,820.
What is the minimum wage in Ramsey, MN?
The minimum wage in Ramsey, 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.