Cost of Living in Shakopee, MN
Population: 45,002 • 2026 Data
$110,989
Median Household Income
+43% vs national
$1,495
Median Monthly Rent
+11% vs national
$361,400
Median Home Value
+7% vs national
3.6%
Unemployment Rate
Housing in Shakopee
The median home value in Shakopee, MN is $361,400. Monthly rent for a typical unit averages $1,495, while total monthly housing costs (including utilities and insurance) average $1,752.
Rent-to-income ratio: 16.2%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Shakopee, MN is $110,989. The unemployment rate stands at 3.6%, with a labor force of 26,683 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.