Stillwater, Minnesota, renowned as the “Birthplace of Minnesota,” seamlessly blends its rich history with a dynamic economic environment. This unique combination offers residents and businesses a vibrant community characterized by growth and opportunity.
Economic Overview
With a population of approximately 19,390, Stillwater boasts a highly educated workforce, with over 50% holding a bachelor’s degree or higher. The city’s median household income stands at $111,462, reflecting a stable and prosperous community. The local economy is diverse, encompassing sectors such as healthcare, tourism, manufacturing, and education.
Housing Market Trends
The housing market in Stillwater reflects the city’s economic vitality. As of June 2026, the median listing price for homes was $632,450, marking a 9.08% increase year-over-year. The median sold price stood at $476,500, with homes spending an average of 37 days on the market. The rental market is equally robust, with a median rent of $2,575 per month, indicating strong demand in both buying and renting sectors.
Support for Local Businesses
Stillwater places a strong emphasis on supporting local businesses. The city collaborates with the Greater Stillwater Chamber of Commerce and local enterprises to foster a thriving business environment. Initiatives such as the Open to Business Program and partnerships with the Washington County Community Development Agency provide resources and financial assistance to local businesses, ensuring sustained growth and development.
Community Development Initiatives
In 2021, the Stillwater City Council established the Stillwater Economic Development Authority (EDA) to enhance economic development efforts. The EDA focuses on studying and analyzing economic needs, facilitating site assembly, and pursuing public financing for development projects. This proactive approach underscores the city’s commitment to fostering a conducive environment for business growth and community development.
Conclusion
Stillwater’s ability to honor its historical roots while embracing economic growth creates a unique and thriving community. The city’s diverse economy, robust housing market, and unwavering support for local businesses make it an attractive destination for residents and entrepreneurs alike.