Inver Grove Heights, a city nestled in Dakota County, Minnesota, has experienced steady economic growth, reflecting its appeal as a place to live and work. With a population of approximately 36,984 residents, the city combines suburban charm with economic vitality.
Economic Overview
The city’s economy is diverse, with key industries including health care and social assistance, manufacturing, and professional, scientific, and technical services. These sectors collectively employ a significant portion of the workforce, contributing to the city’s economic resilience.
Employment and Income
Inver Grove Heights boasts a median household income of $101,316, surpassing both state and national averages. The unemployment rate stands at 3.6%, indicating a healthy job market. The labor force participation rate is 71%, reflecting active community engagement in the workforce.
Housing Market
The housing market in Inver Grove Heights is dynamic. As of June 2026, the median price for a single-family home is $357,000. The city has a homeownership rate of 75.5%, with a median home value of $352,300, indicating a stable real estate environment.
Local Businesses and Entrepreneurship
The city is home to notable businesses such as CHS, Inc., an agricultural cooperative, and the Pine Bend Refinery, the largest oil refinery in Minnesota. Additionally, local enterprises like Gertens Greenhouses contribute to the city’s economic diversity. The recent opening of Cuppa More Pages, a bookstore café, exemplifies the entrepreneurial spirit thriving in the community.
Community Development
The Economic Development Authority (EDA) plays a pivotal role in guiding the city’s growth. Meeting bi-monthly, the EDA focuses on initiatives that foster economic development, support local businesses, and enhance the quality of life for residents.
Inver Grove Heights continues to evolve, balancing growth with community values, making it an attractive destination for families, professionals, and entrepreneurs alike.
