Published: Monday, 21th October 2024
The Standard of living in Minnesota is 1.02 times lesser as compared to New Jersey.
In this page, you will find side-by-side Standard of Living comparison between Minnesota and New Jersey. We have created 77 standard-of-living indicators. We average the values and ranges of all those indicators and take a mathematically calculated approach to determine which entity has a better standard of living between Minnesota and New Jersey.
 Indicators  | Minnesota  | New Jersey  |
|---|---|---|
Human Development Index (HDI) (2023)  | 0.947 | 0.943 |
Literacy Rate (2023)  | 94% (15 years+ above age) | 83.1% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 79.1 years | 77.5 years |
Poverty Ratio (2023)  | 9.6% of total Population | 9.7% of total Population |
Employment Rate (2023)  | 65.7% of total labor force | 62.7% of total labor force |
The Human Development Index (HDI) is a measure used to assess the overall well-being and quality of life of people living in a country or a state. The key dimensions that give a country or a state good HDI rank are a long and healthy life, being knowledgeable and having a decent standard of living. This is expressed as a value between 0 and 1. The higher a country's or a state's human development, the higher its HDI value.
The life expectancy ratio at birth in Minnesota, is [ 79.1 years ], whereas the life expectancy ratio at birth in New Jersey is [ 77.5 years ].
As per the data, a person born and lived in Minnesota is expected to live [ 1.60 years ] more than a person born and lived in New Jersey.
Indicators | Minnesota | New Jersey |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | 482,802 million USD | 825,990 million USD |
GDP Per Capita (2023)  | 83,797 USD | 88,617 USD |
GINI Ratio (2023)  | 0.44 | 0.48 |
Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country or a state in a specific time period, usually a year. It is used to gauge the economic performance of a country or a state and indicates how wealthy and productive a nation or a state is. In simple terms, GDP tells us how much a country or a state is producing and how well its economy is doing.
As per the statistics from the World Bank Data for the year 2023, the total GDP of Minnesota is 482,802 million USD and the total GDP of New Jersey is 825,990 million USD.
On the other hand, Gross Domestic Product (GDP) Per Capita is the average economic output per person in a country or a state. Simply put, it shows how much, on average, each person contributes to the economy, giving an idea of the standard of living and economic well-being of the people in that country or state.
Indicators | Minnesota | New Jersey |
|---|---|---|
Total Registered Physicians (2023)  | 23,165 | 39,998 |
Total Registered Nurses (2023)  | 110,000 | 145,000 |
Available Hospital Beds (2023)  | 16,000 | 22,000 |
Disability Percentage (2023)  | 11.6 % | 11.2 % |
Population Without Health Insurance Coverage (2023)  | 4.5 % | 6.8 % |
Indicators | Minnesota | New Jersey |
|---|---|---|
Income Tax Rates (2023)  | 5.35% to 9.85% | 1.40% to 10.75% |
Sales Tax Rates (2023)  | 6.88 % | 6.63 % |
Property Tax Rates (2023)  | 1.11 % | 2.23 % |
Corporate Tax Rates (2023)  | 9.8 % | 6.50% to 9.00% |
Gas and Fuel Tax (2023)  | 0.29 USD Per Gallon | 0.42 USD Per Gallon |
Beer Tax (2023)  | 0.47 USD Per Gallon | 0.12 USD Per Gallon |
Indicators | Minnesota | New Jersey |
|---|---|---|
Total Population (2023)  | 5,706,494 | 9,288,994 |
Median Age (2023)  | 39 % | 40.4 % |
Sex Ratio (2023)  | 100.8 (Males per 100 Females) | 97.2 (Males per 100 Females) |
Age ( 60 - 64 ) Years (2023)  | 6.9 % | 6.8 % |
Age ( 65 - 74 ) Years (2023)  | 10.2 % | 10 % |
Age ( 75 - 84 ) Years (2023)  | 5.2 % | 5.4 % |
Age ( 85 ) Years and older (2023)  | 2 % | 2 % |
Indicators | Minnesota | New Jersey |
|---|---|---|
Agriculture, Forestry and Fishing Sectors (2023)  | 2 % | 0.2 % |
Construction Sector (2023)  | 6.5 % | 6.1 % |
Manufacturing Sector (2023)  | 13.4 % | 8.3 % |
Transportation and Warehousing Sectors (2023)  | 5.3 % | 6.4 % |
IT and Information Sectors (2023)  | 1.5 % | 2.5 % |
Arts and Entertainment (2023)  | 7.2 % | 7 % |
Education and Healthcare Sectors (2023)  | 25.1 % | 24.1 % |
Finance and Real Estate Sectors (2023)  | 6.9 % | 8.6 % |
Wholesale Trade (2023)  | 2.4 % | 2.8 % |
Retail Trade (2023)  | 11.1 % | 10.6 % |
Public Administration (2023)  | 3.5 % | 4.5 % |
Indicators | Minnesota | New Jersey |
|---|---|---|
Mean Travel Time to Work (2023)  | 22.8 Minutes | 30.3 Minutes |
People Working From Home (2023)  | 17.2 % | 16.7 % |
Private Wage and Salary Workers (2023)  | 82 % | 80.6 % |
People Working In Government Sectors (2023)  | 12.5 % | 14.5 % |
Self-Employed Workers (2023)  | 5.3 % | 4.7 % |
Median Income (2023)  | 82,338 USD | 96,346 USD |
Indicators | Minnesota | New Jersey |
|---|---|---|
Access to Internet (2023)  | 92 % | 92 % |
Access to Electricity (2023)  | 99.9 % | 99.9 % |
Total Forest Area (2023)  | 74,052 Square Kilometers | 7,804 Square Kilometers |
Agricultural Land (2023)  | 209,000 Square Kilometers | 3,400 Square Kilometers |
Indicators | Minnesota | New Jersey |
|---|---|---|
High School Graduate (2023)  | 23.4 % | 25.2 % |
Associate Degree (2023)  | 11.9 % | 6.7 % |
Bachelor's Degree (2023)  | 25.4 % | 25.9 % |
Graduate Degree Holders Percentage (2023)  | 13.7 % | 17.6 % |
Indicators | Minnesota | New Jersey |
|---|---|---|
White Race (2023)  | 4,423,146 | 5,112,280 |
Black or African American Race (2023)  | 398,434 | 1,219,770 |
American Indian and Alaska Native (2023)  | 68,641 | 51,186 |
Asian Race (2023)  | 299,190 | 950,090 |
Hawaiian and Pacific Islander Race (2023)  | 2,918 | 3,533 |
Hispanic or Latino (2023)  | 345,640 | 2,002,575 |
Two or More Races (2023)  | 345,721 | 903,494 |
Only English Speaking Population Percentage (2023)  | 87.8 % | 67.7 % |
Indicators | Minnesota | New Jersey |
|---|---|---|
Total Housing Units (2023)  | 2,485,558 | 3,761,229 |
Median Gross Rent (2023)  | 1,200 USD per month | 1,555 USD per month |
Homeownership Rate (2023)  | 72.1 % | 64.6 % |
Average Family Size (2023)  | 3.01 | 3.16 |
Married Couple Household (2023)  | 49.4 % | 49.9 % |
Male Householder (No Spouse) (2023)  | 18.7 % | 16.1 % |
Female Householder (No Spouse) (2023)  | 24.1 % | 27.1 % |
Indicators | Minnesota | New Jersey |
|---|---|---|
Married Male (Not Separated) (2023)  | 51.8 % | 52 % |
Married Female (Not Separated) (2023)  | 50.3 % | 47 % |
Never Married (Male) (2023)  | 36 % | 37.2 % |
Never Married (Female) (2023)  | 29.9 % | 32.1 % |
Separated (Male) (2023)  | 0.8 % | 1.5 % |
Separated (Female) (2023)  | 1 % | 2 % |
Divorced (Male) (2023)  | 9.1 % | 7 % |
Divorced (Female) (2023)  | 11.3 % | 10.2 % |
Widowed (Male) (2023)  | 2.3 % | 2.4 % |
Widowed (Female) (2023)  | 7.5 % | 8.7 % |
We hope you enjoyed the detailed guide on the standard of living comparsion between Minnesota and New Jersey.
For more side-by-side comparsion between Countries, States and Cities, you can use the search box above or click the links below.
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