Best Small Places for Business and Careers 2019

Rochester, MN

Minnesota
the place image

Rochester, MN

Minnesota
Select A Profile
gross metro product
$13B
population
219.8K
median household income
$73,943
median home price
$206,000
cost of living
7% below nat'l avg
college attainment
39.2%
net migration
200 (year: 2018)
unemployment
2.8%
As of October 2019
population
126.0K
median home price
$309,000
cost of living
92
As of May 2023
The Mayo Clinic forms the core of Rochester's economy. The clinic's many facilities, along with hotels, restaurants and retail stores, comprise nearly the entire city's downtown. A number of Rochester buildings are on the National Register of Historic Places, including the former Chateau Theatre and Avalon Music, formerly a hotel important in the local civil rights movement. Rochester's park system is large with over 100 sites and several trails like the Root River and Douglas State Trails, which were developed on historic
rail passages. Higher education in Rochester has been concentrated at University Center Rochester in the city's southeast outskirts, where Rochester Community and Technical College shares a campus with a branch of Winona State University.
... Read More
On forbes lists
Best Places to Retire 2023
#37
Best Small Places for Business and Careers 2019
#178
In Cost of Doing Business
#78
In Job Growth
#20
In Education
Best Places to Retire In Each State 2018
By The Numbers
EmploymentHousingEducationQuality of Life
Projected Annual Job Growth
1%
Unemployment
2.8%
Median Household Income
$73,943
Household Income Growth
3.1%
High-Tech Employment
2.2%
  • Data is for the metro area
  • Sources: Moody's Analytics; Sperling's BestPlaces; U.S. Census.
  • Numbers as of October 2019


  • a - Value of 100 means that a family with the median income has exactly enough income to qualify for a typical mortgage on a median-priced single-family home. An index above 100 signifies that the family has surplus income.
Key Connections
People
Graphic of Ginger Carson
Ginger Carson
Graphic of Randall Ehleringer
Randall Ehleringer
Companies
Graphic of Mayo Clinic
Mayo Clinic

More on Forbes

Also on forbes
Total Solar Eclipse: Why Lake Erie And Lake Ontario Are Good Choices
CBDC Prohibition Is Gaining Momentum
Total Eclipse Of The Art: Meet The Artist On A Mission To Get You To Totality