Inver Grove Heights, a city in Dakota County, Minnesota, has experienced steady economic growth in recent years. With a population of approximately 36,984 as of 2026, the city boasts a median household income of $101,316, surpassing both state and national averages. This economic vitality is reflected in a low poverty rate of 4.86% and an unemployment rate of 3.6%, indicating a robust local economy.
Key Industries and Employment Trends
The city’s workforce is diverse, with significant employment in sectors such as healthcare and social assistance, manufacturing, and professional, scientific, and technical services. Notably, the professional, scientific, and technical services sector offers the highest average annual salary at $95,565, followed by utilities at $91,276, and finance and insurance at $89,638. This diversity in employment sectors contributes to the city’s economic resilience.
Local Business Developments
Inver Grove Heights is home to several prominent businesses that play a crucial role in the local economy. CHS, Inc., a leading agricultural cooperative, has its headquarters in the city. Additionally, the Pine Bend Refinery, the largest oil refinery in Minnesota and the fourteenth largest in the U.S., operates within the city limits. Gertens Greenhouses, one of the largest garden centers in the United States, also calls Inver Grove Heights home, further diversifying the local business landscape.
In recent developments, the city welcomed a new bookstore café, Cuppa More Pages, which opened in 2025. This establishment offers a unique experience, inviting guests to take or leave books, akin to a life-sized Little Free Library, while enjoying a cup of coffee. Such additions enhance the city’s cultural and economic vibrancy.
Housing Market Insights
The housing market in Inver Grove Heights reflects the city’s economic health. As of June 2026, the median price for a single-family home is $355,950, with a median Automated Valuation Model (AVM) value of $378,000 for properties sold in the last year. The market includes a significant number of high-equity homes, with 70.56% of properties having more than 50% equity. This indicates a stable housing market, offering opportunities for both buyers and investors.
Economic Development Initiatives
The city’s Economic Development Authority (EDA), directed by the City Council, actively promotes economic growth. The EDA meets bi-monthly to discuss and implement strategies aimed at fostering a business-friendly environment. These initiatives are crucial in maintaining the city’s economic momentum and ensuring sustainable development.
Inver Grove Heights continues to demonstrate economic strength through its diverse industries, low unemployment rates, and proactive development strategies. The city’s commitment to fostering a thriving business environment positions it as a desirable location for both residents and businesses alike.
