4 Things To Know About Minnesota's Richest Town

Stillwater MN

11 September, 2020

10:26 AM

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WASHINGTON COUNTY, MN — The wealthiest town in Minnesota is Dellwood — located in the east metro of the Twin Cities — where the median household income is more than $176,000, according to a new report. The financial news site 24/7 Wall St. reviewed the median annual household income in more than 2,600 places to find the richest town in every state. In Dellwood — which has 1,149 residents — the median household income is about $108,000 more than the state average, the site states. Home for sale in the Dellwood area. City of Dellwood profile: Median household income: $176,528 (state: $68,411)Poverty rate: 1.2 percent: 0.3% (state: 10.1%)Median home value: $619,000 (state: $211,800)Population: 1,251 "Situated on the northeast shore of White Bear Lake some 20 miles from downtown Minneapolis, Dellwood is one of the wealthiest suburbs in the Midwest," the study reads. "The typical household earns $176,528 a year, more than twice the $68,411 state median household income and nearly three times the $60,293 national figure." The median annual household income in the United States overall is just over $60,000. "Individuals with greater educational attainment are more likely to have high-paying jobs," the report continues. "In Dellwood, some 75.2% of adults have a bachelor's degree, more than twice both the state bachelor's degree attainment rate of 35.4% and the national rate of 31.5%." Read more in the study here.