Owners are 72% of Edina households and renters pay a median of $1,844. Whether a personal loan fits depends on your own income and debts, not on your ZIP code. Compare written APRs and total cost across three offers, and verify any lender's Minnesota license first.
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Key figures
Source: Census Bureau ACS 5-year estimates, 2020 to 2024, for the city of Edina. Estimates carry margins of error, and your own income, credit and debts decide what a lender offers.
Work and pay in Edina
Three sectors dominate the Edina workforce in the ACS: education and health care (25% of workers), professional, scientific and administrative services (20%) and finance, insurance and real estate (15%). One lean worth noting: finance, insurance and real estate, which employs 15% of Edina residents compared with 7% in the median place.
Roughly 60 in 100 Edina households clear $100,000 a year, while 12 in 100 take in under $35,000 and 34 in 100 reach $200,000. The middle of our U.S. city set is 20% under $35,000 and 39% above $100,000, so Edina sits higher on the upper end. The Gini index for the area is 0.53, on a scale where higher means a wider gap.
Who lives in Edina
The median resident of Edina is 44.9 years old, and 73% of adults 25 and older hold a bachelor's degree or more. The U.S. city medians are 37.2 years and 37% with a degree, so Edina skews older and above the middle on schooling.
By structure type, 54% of Edina housing units are detached single-family homes and 39% are in buildings with five or more units.
Jobs data for the Edina area
For September 2026, the BLS county estimate of unemployment in Hennepin County is 4.7% (not seasonally adjusted, preliminary), up 0.9 points from 3.8% a year earlier. The ACS five-year estimate for Edina itself is 3.9%, an average over 2020 to 2024. If hours slip for a month, could you still pay? That question matters more than the unemployment rate.
Budget math at the median in Edina
Divide the median income of $128,767 by twelve and a Edina household has about $10,731 a month before taxes. Rent at the median ($1,844) uses 17% of that; 30% would be $3,219. A widely cited debt-to-income benchmark is 36%, which at the median would be about $3,863 a month for all debts together, rent or mortgage included. Lenders set their own limits. Buying the median home would take about 5.0 years of median income. Put your own numbers in the DTI calculator, because most households sit well above or below the median.
Reading the Edina data as a borrower
Commutes are comparatively short in Edina: only 4% of workers travel 45 minutes or more, in the lower third of the 784 U.S. city places we cover. Lower vehicle wear can leave more room in the budget.
29% of Edina workers work from home, one of the higher shares among the 784 U.S. city places we cover. Remote workers and the self-employed should expect lenders to verify income carefully, so keep pay stubs, contracts or tax returns ready.
About 72% of Edina households own their homes, which is higher than most of the 784 U.S. city places we cover. Owners have equity-based choices that renters do not, but borrowing against a house puts the house at risk, so weigh a HELOC against a personal loan before deciding.
How Edina compares
In the 784 U.S. city places in our dataset, Edina has a median household income of $128,767 (No. 89 of 784), a median gross rent of $1,844 (No. 192 of 784), and a median home value of $646,300 (No. 94 of 784). Ranks like these are a snapshot that changes each release.
Of the places of similar size that we cover in Minnesota, two reference points are Minnetonka ($119,517 income, $1,779 rent), where Edina runs 8% above on income and 4% above on rent and St. Louis Park ($101,648 income, $1,644 rent), where Edina runs 27% above on income and 12% above on rent. Compare the same four numbers on every offer wherever you live.
Nearby places compared with Edina
A short list of nearby communities, sorted by distance from Edina, to show how quickly costs change over a few miles.
| Place | Miles away | Residents | Household income (median) | Rent (median) | Rent vs Edina |
|---|---|---|---|---|---|
| Hopkins | 3 mi | 18,819 | $75,234 | $1,468 | -$376 |
| Richfield | 4 mi | 36,642 | $85,132 | $1,393 | -$451 |
| St. Louis Park | 4 mi | 49,594 | $101,648 | $1,644 | -$200 |
| Bloomington | 5 mi | 88,665 | $93,211 | $1,561 | -$283 |
| Minnetonka | 6 mi | 53,064 | $119,517 | $1,779 | -$65 |
| Eden Prairie | 6 mi | 63,051 | $130,489 | $1,833 | -$11 |
| Minneapolis | 7 mi | 427,246 | $80,846 | $1,371 | -$473 |
| Golden Valley | 7 mi | 21,725 | $108,772 | $1,785 | -$59 |
Tally: 1 nearby places out-earn Edina at the median and 8 rent for less.Eden Prairie has the top median income on the list ($130,489); Minneapolis is the cheapest place to rent ($1,371) and Eden Prairie the priciest ($1,833). For anyone weighing a move to cut costs, this spread is the place to start; a loan payment should fit the budget after the move, not before it.
About Edina
Edina is a Hennepin County suburb bordering Minneapolis to the southwest. Southdale Center, opened in 1956, is often cited as the first enclosed shopping mall in the country, and health care and corporate offices are major employers.
A Edina example
Health-care employers in Edina offer steady paychecks and also steady medical bills. If your own bills are the reason you are borrowing, ask the hospital about financial assistance first.
Do this before signing in Edina
- Confirm the license with your state regulator before sharing details; the CFPB takes complaints about lenders.
- Compare three written offers by APR, fees and total cost, using the side-by-side calculator.
- Run the offer checklist before you sign.
- Read your free credit reports at AnnualCreditReport.com and fix errors before you shop.
- Put the payment through the DTI calculator before you apply anywhere. Lenders set their own limits.
Guides near Edina
- Personal loans in Plymouth, MN
- Personal loans in Eden Prairie, MN
- Personal loans in Minnetonka, MN
- Personal loans in Bloomington, MN
- Personal loans in Eagan, MN
- Personal loans in St. Paul, MN
Frequently asked questions
How should I budget a loan if I have a long commute from Edina?
Count fuel, tires and repairs as fixed costs. With 4% of workers commuting 45 minutes or more, a vehicle failure is a common emergency, so keep a small repair fund and choose a loan payment you can still make after a bad car month.
Should I borrow for a medical bill in Edina before asking about financial assistance?
No. Ask first. Nonprofit hospitals must have financial assistance policies, and a payment plan from the provider is often cheaper than a loan.
Does living in Edina change what I qualify for?
Not in our fit check. We screen on loan amount, credit range, income from any source and monthly payments, the same for everyone. Lenders set their own rules and must follow fair-lending laws.
Where do I file a complaint about a lender in Edina?
Start with the Minnesota financial regulator or attorney general, then the CFPB complaint portal. If you were asked to pay a fee before getting a loan, report it at ReportFraud.ftc.gov.