Shakopee, MN
Population 45,002 · Minnesota
About Shakopee, MN
Shakopee is a mid-sized city located in Minnesota with a population of 45,002 residents according to the latest US Census Bureau American Community Survey data. The median household income is $110,989 per year, which is 48% above the national median of $75,149. The median age of 35.5 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Shakopee features a median home value of $361,400, which is 48% above the national median of $244,900. This positions Shakopee in a moderately priced market relative to the rest of the country. Median monthly rent is $1,495, 29% above the national average of $1,163/month. Of the 16,491 total housing units, 77% are owner-occupied (12,360 units) and 23% are renter-occupied (3,734 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Shakopee shows an unemployment rate of 3.6%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 5.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Shakopee have an average one-way commute time of 22.2 minutes.
Education & Demographics
39.9% of Shakopee residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 6.0% White, 3.3% Hispanic or Latino, 1.2% Black or African American, and 2.5% Asian residents, with 16.6% of the population being foreign-born.
How Shakopee Ranks in Minnesota
Cost of Living in Shakopee, MN
Compared to national averages, Shakopee has a median household income of $110,989 (48% above the national median of $75,149). Home values average $361,400, which is 48% above the national median. Monthly rent at $1,495 is 29% above the US average of $1,163. Within Minnesota, Shakopee's income is 50% above the state average of $74,221, and home values are 77% above the state median of $204,472.
Why Live in Shakopee, MN?
Shakopee offers a strong local economy with a median household income of $110,989, well above the national average, and a strong job market with an unemployment rate of just 3.6%, and a well-educated community where 39.9% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 5.1%, better than the national average, and short commute times averaging just 22.2 minutes.
Shakopee has a population of 45,002 with a median age of 35.5 years. Compare Shakopee with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Shakopee
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Mankato | 44,882 | $64,826 | $250,600 | Compare |
| Moorhead | 44,706 | $69,371 | $246,300 | Compare |
| Maplewood | 40,981 | $88,534 | $291,300 | Compare |
| St. Louis Park | 49,541 | $100,250 | $371,600 | Compare |
| Cottage Grove | 40,124 | $121,452 | $359,600 | Compare |
| Edina | 53,125 | $129,225 | $624,000 | Compare |
| Minnetonka | 53,256 | $120,496 | $456,200 | Compare |
| Richfield | 36,725 | $84,055 | $320,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Shakopee With Other Cities
Frequently Asked Questions about Shakopee
What is the population of Shakopee, MN?
The population of Shakopee, MN is 45,002 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Minnesota.
What is the median household income in Shakopee?
The median household income in Shakopee, MN is $110,989 per year, which is 48% above the national median of $75,149.
What is the median home value in Shakopee?
The median home value in Shakopee, MN is $361,400, which is 48% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Shakopee?
The median monthly rent in Shakopee, MN is $1,495, which is 29% above the national average of $1,163/month.
What is the unemployment rate in Shakopee?
The unemployment rate in Shakopee, MN is 3.6%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Shakopee, MN a good place to live?
Shakopee offers above-average incomes, a competitive housing market, and a strong job market. With a population of 45,002 and a median age of 35.5, the city appeals to a broad range of residents.
How educated is Shakopee, MN?
39.9% of residents in Shakopee aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Shakopee?
Key cost-of-living indicators for Shakopee, MN: median home value is $361,400 (48% above national), median rent is $1,495/month, and median household income is $110,989. The home-value-to-income ratio is 3.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Shakopee?
The poverty rate in Shakopee, MN is 5.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Shakopee, MN?
Shakopee's population is 6.0% White, 3.3% Hispanic or Latino, 1.2% Black or African American, 2.5% Asian, and 8.1% two or more races. 16.6% of residents are foreign-born.