In St. Louis Park, Minnesota, the median household earns $101,648 a year and 58% of homes are owner-occupied. A personal loan makes sense when its total cost beats your current debt and the payment fits your budget. Compare APR, fees and term in writing, and verify the lender is licensed in Minnesota before you sign.
On this page
- Local snapshot
- How people in St. Louis Park earn a living
- St. Louis Park households and housing
- Unemployment near St. Louis Park
- Budget math at the median in St. Louis Park
- Borrowing takeaways for St. Louis Park
- St. Louis Park in context
- The St. Louis Park area, place by place
- Local context
- A St. Louis Park example
- Do this before signing in St. Louis Park
- Around St. Louis Park
- Frequently asked questions
Local snapshot
Numbers come from the Census Bureau's 2020 to 2024 ACS for the city of St. Louis Park. Treat them as estimates.
How people in St. Louis Park earn a living
By industry, the largest groups of St. Louis Park workers are in education and health care (25%), professional, scientific and administrative services (17%) and manufacturing (12%). Professional, scientific and administrative services stands out: 17% of St. Louis Park workers, versus 12% for the median place we cover.
Looking past the median, 51% of St. Louis Park households earn $100,000 or more and 13% earn less than $35,000. Across our U.S. city set, the typical place sits at 20% under $35,000 and 39% at $100,000 or more. The Gini index for the area is 0.42, on a scale where higher means a wider gap.
St. Louis Park households and housing
A bachelor's degree or more is held by 64% of St. Louis Park adults aged 25 and up, and the median age is 36.1. Measured against the U.S. city set (median age 37.2, 37% with degrees), St. Louis Park is younger and above the typical education share. Age and schooling describe a place. A lender reads your own file.
Homes in St. Louis Park are 47% single-family detached, 45% in buildings of five or more units and 0% mobile or manufactured. The median place in our U.S. city set is 61% detached and 22% multifamily.
Unemployment near St. Louis Park
The Bureau of Labor Statistics put the unemployment rate in Hennepin County at 4.7% for September 2026 (not seasonally adjusted, preliminary), up 0.9 points from 3.8% a year earlier. Census survey data put the St. Louis Park rate at 3.2% on a 2020 to 2024 average. Lenders care about your income stability more than the county rate, so keep pay stubs and bank statements handy.
Budget math at the median in St. Louis Park
Here is the budget math at the median. A St. Louis Park household earning $101,648 a year has about $8,471 a month before taxes. The median gross rent of $1,644 takes roughly 19% of that, against a common affordability yardstick of 30%, or about $2,541. For total debt payments, 36% of gross income is a common benchmark. At the median that is about $3,049 a month, though lenders choose their own cutoffs. The typical home is priced at 3.8 times the median household income.
Borrowing takeaways for St. Louis Park
Only 40% of St. Louis Park renter households spend 30 percent or more of income on rent, in the lower third of the 784 U.S. city places in our set. A comfortable rent-to-income ratio can mean a bigger borrowing cushion, so choose the shortest term you can pay.
In St. Louis Park, just 5% of workers commute 45 minutes or longer. Transportation costs are likely to be a smaller line in many budgets.
28% of St. Louis Park workers work from home, one of the higher shares among the 784 U.S. city places we cover. For borrowers, that often means income documents come from several sources, and lenders may ask for more proof than a single pay stub.
St. Louis Park in context
Among the 784 U.S. city places we track, St. Louis Park posts a median household income of $101,648 (218th highest of 784), a median gross rent of $1,644 (330th highest of 784), and a median home value of $386,800 (304th highest of 784).
Two comparable Minnesota places in our set are Minnetonka ($119,517 income, $1,779 rent), where St. Louis Park runs 15% below on income and 8% below on rent and Edina ($128,767 income, $1,844 rent), where St. Louis Park runs 21% below on income and 11% below on rent. Differences like these are why a loan that suits one town can strain another.
The St. Louis Park area, place by place
Distances are straight-line from the center of St. Louis Park. The last column shows how each place's median rent differs from St. Louis Park's $1,644.
| Community | Miles away | Residents | Median income | Rent (median) | Rent vs St. Louis Park |
|---|---|---|---|---|---|
| Hopkins | 3 mi | 18,819 | $75,234 | $1,468 | -$176 |
| Golden Valley | 3 mi | 21,725 | $108,772 | $1,785 | +$141 |
| Edina | 4 mi | 53,262 | $128,767 | $1,844 | +$200 |
| Minnetonka | 5 mi | 53,064 | $119,517 | $1,779 | +$135 |
| Minneapolis | 5 mi | 427,246 | $80,846 | $1,371 | -$273 |
| Robbinsdale | 6 mi | 14,234 | $88,252 | $1,758 | +$114 |
| New Hope | 6 mi | 21,181 | $77,662 | $1,335 | -$309 |
| Crystal | 6 mi | 22,476 | $92,513 | $1,467 | -$177 |
3 of these 8 places have a higher median household income than St. Louis Park, and 4 have lower median rent. Rent runs from $1,335 in New Hope to $1,844 in Edina, and the highest median income nearby is $128,767 in Edina. Lenders look at your own rent or mortgage, not the town average, but the spread shows how much local costs vary.
Local context
St. Louis Park is a Hennepin County suburb bordering Minneapolis to the west. Health care offices and a mix of corporate and retail employers line Highway 100 and I-394, and many residents commute into Minneapolis.
A St. Louis Park example
Health-care employers in St. Louis Park 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 St. Louis Park
- Look the lender up with your state's financial regulator, and know that the CFPB takes complaints too.
- Run the offer checklist before you sign.
- Plan for a bad month: if hours drop or the car breaks, could the payment still go out?
- Confirm there is no prepayment penalty, in writing, so you can clear the balance early.
- Ask each lender for the same four numbers: amount financed, APR, fees and total repayment.
Around St. Louis Park
- Personal loans in Plymouth, MN
- Personal loans in Eden Prairie, MN
- Personal loans in Edina, MN
- Personal loans in Minnetonka, MN
- Personal loans in Eagan, MN
- Personal loans in St. Paul, MN
Frequently asked questions
Is a personal loan a good idea in St. Louis Park if rent is already a big expense?
It can be when the loan lowers your total cost, for example by replacing high-interest cards, and when the new payment fits after rent. In St. Louis Park, 40% of renters spend 30 percent or more of income on rent, so test every payment against a tight month and avoid long terms that raise total cost.
Should I borrow for a medical bill in St. Louis Park 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.
Is the fit check different for St. Louis Park residents?
Beyond confirming your state, no. Your answers about the amount, credit, income and payments are all the check uses, and the same rules apply to every applicant.
Who handles lender complaints for St. Louis Park residents?
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.