Insurance Underwriter Salary in Minneapolis, MN
Insurance Underwriters in the Minneapolis-St. Paul-Bloomington, MN-WI metro area earn a median $82,980 a year — 2% more than the national median. After 2026 taxes, that is $63,087 take-home, or $5,257 a month.
Take-home pay calculator
Pre-filled with the median insurance underwriter salary in Minneapolis, MN. Enter your own offer to see your paycheck.
- Federal income tax$9,426
- Social Security (6.2%)$5,145
- Medicare (1.45%)$1,203
- Minnesota income tax$4,119
- Take-home pay$63,087
Marginal rate: 22% federal + 6.80% state
The Minneapolis-St. Paul-Bloomington, MN-WI metro spans Minnesota, Wisconsin. Pick the state you live in — state income tax follows your residence.
Insurance Underwriter pay by experience in Minneapolis, MN
| Percentile | Salary | Hourly | Take-home / yr | Per month |
|---|---|---|---|---|
| 10th percentile (entry level) | $61,820 | $29.72 | $49,172 | $4,098 |
| 25th percentile | $76,530 | $36.79 | $58,988 | $4,916 |
| Median (50th) | $82,980 | $39.89 | $63,087 | $5,257 |
| 75th percentile | $125,140 | $60.16 | $89,809 | $7,484 |
| 90th percentile (top earners) | $149,520 | $71.88 | $104,559 | $8,713 |
Wages: BLS Occupational Employment and Wage Statistics, May 2025. Take-home: single filer, Minnesota resident, 2026 tax rules.
What $82,980 buys in Minneapolis, MN
Prices in Minneapolis, MN are 4.8% higher than the U.S. average (housing costs are 1.12× the national average). Adjusted for local prices, a median insurance underwriter's $63,087 take-home pay has the buying power of $60,185 in a typical American city.
Rents: HUD Fair Market Rents, FY2026 (40th-percentile gross rent incl. utilities). Price levels: BEA Regional Price Parities, 2024.
Minneapolis, MN has 1.4× the national concentration of insurance underwriter jobs — a strong local market for this occupation.
Best-paying cities for insurance underwriters, adjusted for cost of living
Minneapolis, MN ranks #39 of 43 metro areas once taxes and local prices are taken into account.
| # | Metro area | Median salary | Take-home | Real value* |
|---|---|---|---|---|
| 1 | Milwaukee, WI | $106,570 | $79,534 | $82,047 |
| 2 | Madison, WI | $95,130 | $72,093 | $74,103 |
| 3 | Hartford, CT | $100,690 | $75,702 | $73,679 |
| 4 | Denver, CO | $101,840 | $76,702 | $72,509 |
| 5 | Boston, MA | $106,170 | $78,432 | $72,444 |
| 6 | Chicago, IL | $99,840 | $74,270 | $71,693 |
| 7 | Atlanta, GA | $95,430 | $71,635 | $71,593 |
| 8 | Seattle, WA | $100,130 | $79,271 | $71,330 |
| 39 | Minneapolis, MN | $82,980 | $63,087 | $60,185 |
*Take-home pay divided by the BEA price level, so every city is measured in U.S.-average dollars. See all 43 metros →
Frequently asked questions
How much does a insurance underwriter make in Minneapolis, MN?
The median insurance underwriter salary in the Minneapolis-St. Paul-Bloomington, MN-WI metro area is $82,980 a year, or about $39.89 an hour, according to the Bureau of Labor Statistics (May 2025). The middle half earn between $76,530 and $125,140.
What is a insurance underwriter’s take-home pay in Minneapolis, MN?
On the median $82,980 salary, a single filer living in Minnesota takes home about $63,087 a year ($5,257 a month) after federal tax, Social Security, Medicare and $4,119 in Minnesota taxes in 2026.
Is Minneapolis, MN a good place to work as a insurance underwriter?
Pay here is 2% above the national median of $81,370. Local prices are 4.8% above the U.S. average, so the take-home pay buys what $60,185 would in a typical U.S. city. Minneapolis, MN ranks #39 of 43 metro areas for cost-of-living-adjusted pay in this job.
Can a insurance underwriter afford rent in Minneapolis, MN?
HUD’s fair market rent for a one-bedroom in Minneapolis, MN is $1,396 a month ($1,700 for two bedrooms) — 27% of a median insurance underwriter’s monthly take-home pay. Financial planners usually suggest keeping rent under about 30%.
Related jobs in Minneapolis, MN
- Financial Risk Specialist — $105,420
- Financial Examiner — $104,260
- Personal Financial Advisor — $103,410
- Financial and Investment Analyst — $103,350
- Loan Officer — $102,200
- Management Analyst — $101,560
- Labor Relations Specialist — $101,270
- Property Appraiser and Assessor — $99,800
- Market Research Analyst and Marketing Specialist — $97,910
- Project Management Specialist — $97,860
- Compliance Officer — $91,150
- Accountant and Auditor — $86,500