U.S. GDP RANK #20 · MN 1.68% OF U.S. GDP
Minnesota Economy: GDP, Income, Jobs & Housing
In 2025, Minnesota (MN) generated $515.1 billion in nominal Gross Domestic Product (1.68% of the U.S. economy, ranked #20 nationwide) and $392.3 billion in real chained 2017 dollars. Per-capita personal income stood at $78,197 across a resident population of 5.83 million.
2025 Nominal GDP
$515.1B
U.S. Rank #20
Real GDP Growth
+0.70% 5Y Real: +9.9%
Per-Capita Income $78,197 BEA Personal Income
Avg Wage / Job $76,085 3.91M total jobs
Population 5.83M
10Y: +5.8%
5Y Home Price
+39.5% FHFA Index: 593.9
BEA & FHFA REGIONAL SERIES · 1997-2025
Minnesota GDP, Per-Capita Income & House Price Trajectory
Minnesota Historical Economic Ledger (1997-2025)
| Year | Nominal GDP ($B) | Real GDP ($B) | Real YoY % | Per-Capita Inc | Avg Wage/Job | Jobs (M) | FHFA HPI |
|---|---|---|---|---|---|---|---|
| 2025 | $515.1B | $392.3B | 0.70% | $78,197 | $76,085 | 3.91M | 593.9 |
| 2024 | $497.2B | $389.6B | 0.82% | $75,040 | $73,400 | 3.90M | 573.0 |
| 2023 | $479.6B | $386.4B | 0.92% | $72,565 | $70,605 | 3.86M | 550.0 |
| 2022 | $453.7B | $382.9B | 2.20% | $69,471 | $68,735 | 3.81M | 529.7 |
| 2021 | $413.5B | $374.6B | 4.92% | $67,743 | $65,961 | 3.72M | 474.7 |
| 2020 | $378.3B | $357.1B | -3.37% | $61,358 | $63,173 | 3.61M | 425.8 |
| 2019 | $384.8B | $369.5B | 1.31% | $57,889 | $58,836 | 3.79M | 407.0 |
| 2018 | $372.4B | $364.7B | 2.82% | $56,186 | $57,257 | 3.78M | 389.7 |
| 2017 | $354.7B | $354.7B | 1.17% | $53,812 | $55,406 | 3.74M | 369.5 |
| 2016 | $345.2B | $350.6B | 1.49% | $51,966 | $53,510 | 3.70M | 349.3 |
| 2015 | $336.8B | $345.5B | 2.02% | $51,336 | $52,637 | 3.66M | 333.6 |
| 2014 | $324.7B | $338.6B | 2.68% | $49,330 | $50,775 | 3.60M | 320.5 |
| 2013 | $311.8B | $329.8B | 2.72% | $47,399 | $49,260 | 3.56M | 306.2 |
| 2012 | $298.6B | $321.1B | 1.85% | $47,385 | $48,515 | 3.51M | 293.3 |
| 2011 | $287.1B | $315.2B | 2.31% | $45,118 | $46,949 | 3.47M | 294.7 |
| 2010 | $274.6B | $308.1B | 3.78% | $42,530 | $45,857 | 3.41M | 310.5 |
| 2009 | $262.6B | $296.9B | -4.01% | $40,962 | $44,557 | 3.42M | 327.3 |
| 2008 | $268.8B | $309.3B | 1.67% | $42,983 | $45,071 | 3.53M | 345.3 |
| 2007 | $261.3B | $304.2B | 0.64% | $41,325 | $43,607 | 3.54M | 363.4 |
| 2006 | $252.4B | $302.3B | 0.17% | $39,362 | $41,429 | 3.50M | 366.1 |
| 2005 | $244.6B | $301.8B | 2.73% | $37,812 | $40,085 | 3.45M | 356.6 |
| 2004 | $231.9B | $293.8B | 4.61% | $37,084 | $39,636 | 3.39M | 329.7 |
| 2003 | $216.0B | $280.8B | 4.39% | $35,195 | $37,872 | 3.35M | 302.0 |
| 2002 | $204.1B | $269.0B | 2.07% | $33,889 | $36,744 | 3.34M | 281.2 |
| 2001 | $196.9B | $263.5B | 0.07% | $33,417 | $35,881 | 3.35M | 257.9 |
| 2000 | $192.4B | $263.3B | 6.62% | $32,348 | $34,721 | 3.33M | 233.8 |
| 1999 | $176.8B | $247.0B | 3.90% | $30,240 | $32,766 | 3.26M | 211.6 |
| 1998 | $167.9B | $237.7B | 5.43% | $29,141 | $31,430 | 3.19M | 195.7 |
| 1997 | $157.3B | $225.5B | - | $27,067 | $29,699 | 3.11M | 184.8 |