Living in Shakopee, Minnesota
Cost of living, income, home prices, rent and demographics of Shakopee · Census data 2020–2024
Shakopee has 46,012 residents with a median age of 36.6. The median household income is $107,223 (20% higher than the Minnesota median), the median home value is $374,800, the median rent is $1,531/month.
Shakopee at a glance
- Population
- 46,012
- Median age
- 36.6State: 38.8
- Median household income
- $107,223State: $89,062
- Median home value
- $374,800State: $329,300
- Median rent
- $1,531/moState: $1,280
- Homeowners
- 74.8%
- Bachelor's degree or higher
- 40.4%
- Average commute
- 22 min
Is Shakopee a good place to live?
Pros: Median household income 20% higher than the Minnesota median; an average commute of 22 minutes; unemployment of 3.7%; a poverty rate of 5.9%.
Cons: Home values 14% higher than the state median.
The weather is best in June to September.
Cost of living in Shakopee
Housing is the biggest part of the cost of living. In Shakopee the median home value is $374,800, 13% higher than the U.S. median. Renters pay a median of $1,531 per month, which is 29.3% of household income. Homeowners with a mortgage pay $2,251 a month in housing costs.
Shakopee median household income
The median household income in Shakopee is $107,223 and the income per person is $47,444. 5.9% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Shakopee: homes for sale and rent
- Housing units
- 17,216
- Owner-occupied
- 74.8%
- Renter-occupied
- 25.2%
- Vacant
- 3.3%Includes seasonal homes
- Median year built
- 1999
- Average household size
- 2.71
Shakopee demographics
- Population
- 46,012
- Median age
- 36.6
- Under 18
- 25.8%
- 65 and older
- 10.4%
- Households
- 16,655
- Foreign-born
- 16.8%
- Veterans
- 4.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Shakopee ›
Education in Shakopee
40.4% of adults 25 and older in Shakopee have a bachelor's degree or higher (Minnesota: 39.4%), and 11.9% have a graduate or professional degree.
Jobs and commute in Shakopee
- Unemployment rate
- 3.7%State: 4.1%
- Average commute
- 22 minState: 23 min
- Work from home
- 18.3%
- Drive alone
- 71%
- Public transit
- 0.3%
- Walk to work
- 0.3%
- Homes with broadband
- 95.7%
Shakopee vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Shakopee | 46,012 | $107,223 | $374,800 | $1,531 |
| Prior Lake | 28,016 | $134,255 | $450,700 | $1,654 |
| Eden Prairie | 63,051 | $130,489 | $473,900 | $1,833 |
| Savage | 32,889 | $125,513 | $432,300 | $1,766 |
| Chanhassen | 26,006 | $143,651 | $566,300 | $1,831 |
| Chaska | 28,706 | $110,956 | $404,700 | $1,553 |
| Carver | 6,239 | $147,697 | $445,800 | $1,379 |
| Bloomington | 88,665 | $93,211 | $361,700 | $1,561 |
| Credit River | 5,551 | $143,125 | $595,000 | — |
More for people moving to Shakopee
Shakopee ZIP code ›Weather and climate ›Living in Shakopee: FAQ
What is the median household income in Shakopee, MN?
The median household income in Shakopee is $107,223, 20% higher than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Shakopee?
The median home value in Shakopee is $374,800, compared with $329,300 in Minnesota.
How much is rent in Shakopee?
The median gross rent in Shakopee is $1,531 per month, about 29.3% of household income.
Is Shakopee, MN a good place to live?
Pluses: median household income 20% higher than the Minnesota median; an average commute of 22 minutes; unemployment of 3.7%; a poverty rate of 5.9%. Minuses: home values 14% higher than the state median.
What is the median age in Shakopee?
The median age in Shakopee is 36.6 years (Minnesota: 38.8).
How long is the commute in Shakopee?
The average commute to work in Shakopee is 22 minutes; 18.3% of workers work from home.
What is the unemployment rate in Shakopee?
The unemployment rate in Shakopee is 3.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Shakopee?
40.4% of adults in Shakopee have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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