Minneapolis named 5th best city to get rich

Categories: Lists
minneapolis_getrich.jpg
Minneapolis looking especially flashy

There's no need to hit Wall Street or Hollywood to make it big. Minneapolis was just named the fifth-best city in the country to get rich by CreditDonkey. It's the only Midwestern metro to make the top ten.

See also:
Minneapolis has the best parks in the nation and it isn't even close, study says
Real estate site names Minneapolis the best place to raise a family

CreditDonkey, a credit card comparison website, had a pretty solid methodology for putting this list together. They looked at a combination of the percentage of high income households ($150,000 and up), local economic growth from 2008 to 2011, and patents filed.

The average figures for these indicators in the cities they looked at were about 10 percent high income households, 5.3 percent local economic growth, and 1,484 patents filed. Minneapolis beat the norm in all three categories, and CreditDonkey deemed us a "non-coastal innovation center" -- whatever that means:

  • High Income Percentage: 11.1%
  • GDP Growth: 7.45%
  • Patents: 3,113

Minneapolis and its surrounding communities help drive the Midwest's economy, and it's an area that has been doing better than the country as a whole in recent years. As one of the United States' non-coastal innovation centers, this region placed 8th in the number of patents granted and 13th in economic growth. About 11 percent of local households make $150,000 or more.

Of course, anyone who's been paying any attention for the last five years knows to take this cheery assessment with a grain of salt. As in many places around the country, our economic recovery has been mostly driven by low wage and low prospect "McJobs." Still, if you're hoping to chase down that elusive Gatsby-esque lifestyle, Minneapolis is as good a place to do it as any.

Here's the full list:

1. San Jose, CA
2. Boston, MA
3. Washington, D.C.
4. Austin, TX
5. Minneapolis, MN
6. New York, NY
7. Seattle, WA
8. San Francisco, CA
9. (tie) Houston, TX
9. (tie) Raleigh, NC


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5 comments
Edward Bertsch
Edward Bertsch

"... if you're an out of town Football owner..."

MicheleBachmann
MicheleBachmann topcommenter

@Carla Mayer Nice places to live have high taxes.  Go live in South Dakota stupid, they have low taxes.  

kennyX
kennyX

@MicheleBachmann  South Dakota is exactly where Mark Dayton's family fortune is sitting in. Tax-free shelter. But you are too stupid to realize that because you are brainwashed. And BTW, Minneapolis is not a nice place to live in. It is a cold tundra filled with stupid Liberals like you who think that this is a world class city. It is not. The only people who become millionaires here are Republican business owners who take advantage of the talent pool.  And then they take their fortunes and transfer them over to tax-free shelter states like South Dakota. Just like the Daytons did. 

My God, you are fucking stupid.

Onan
Onan

@kennyX @MicheleBachmann  - "It is a cold tundra filled with stupid Liberals like you who think that this is a world class city. "

Please feel free to leave and don't
 let the door hit you on the ass on the way out.

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