Here's how much Minnesotans will spend on holiday shopping this year

By FOX 9 Staff
Published  November 21, 2024 9:00pm CST
FOX 9
Loading Video…

This browser does not support the Video element.

Target reports slumping profits ahead of holidays

A poor quarterly report from Target has some worried about the holiday season's retail outlook. FOX 9 reporter Babs Santos has the full story.

The Brief

    • A new study from WalletHub shows the holiday budgets in cities across the U.S., including Minnesota.
    • According to the study, holiday sales are expected to rise between 2.5% and 3.5% from last year, even amid increased credit card debts across the country.
    • A few Minnesota cities rank in the top 100 highest budgets for holiday shopping.

(FOX 9) - Some Minnesota cities ranked in the top 100 in the U.S. for the highest budgets for holiday shopping.

Holiday sales in 2024 are expected to grow between 2.5% and 3.5% from last year, reaching more than $980 billion, according to the personal finance website WalletHub. 

To determine the U.S. cities with the largest holiday budgets, WalletHub compared more than 500 cities across five key metrics: income, age, debt-to-income ratio, monthly income-to-monthly expenses ratio and savings-to-monthly expenses ratio. 

Highest Minnesota holiday budgets

Four Minnesota cities ranked in the top 100 highest holiday shopping budgets in the U.S. 

Plymouth has the biggest budget in the state, ranking at No. 22 in the study. The city's holiday shopping budget is $2,969. 

Next is Woodbury, with a budget of $2,757 and a ranking of No. 29. 

Third is Maple Grove, whose budget is $2,390 and has a ranking of No. 51. Finally, there is Eagan, with a budget of $2.342 and a ranking of No. 55. 

Lowest Minnesota holiday budgets

Throughout the study, most Minnesota cities were ranked in about the middle. 

After Eagan, Bloomington has a holiday shopping budget of $1,675, with a ranking of No. 123. 

Rochester is not much lower, with a budget of $1,670 and a ranking of No. 126. 

Minneapolis is the next lowest, having a budget of $1,601, and a ranking of No. 146. St. Paul is ranked 218 with a budget of $1,398. 

According to the study, Duluth has the second-lowest holiday spending budget in the state, with a ranking of No. 283 and a budget of $1,223. 

The Minnesota city with the lowest holiday budget is St. Cloud with $1,172 and is ranked No. 309. 

Holiday spending budgets across U.S., according to WalletHub:

  1. Newton, MA $4,206
  2. Sunnyvale, CA $3,845
  3. Palo Alto, CA $3,719
  4. Mountain View, CA $3,715
  5. Milpitas, CA $3,659
  6. Bellevue, WA $3,550
  7. Flower Mound, TX $3,541
  8. Fremont, CA $3,483
  9. Carmel, IN $3,424
  10. Santa Clara, CA $3,419
  11. Frisco, TX $3,412
  12. Naperville, IL $3,407
  13. The Woodlands, TX $3,395
  14. Highlands Ranch, CO $3,259
  15. Sugar Land, TX $3,214
  16. Cambridge, MA $3,169
  17. Ellicott City, MD $3,152
  18. Allen, TX $3,070
  19. Weston, FL $3,066
  20. Centreville, VA $3,055
  21. Cary, NC $2,996
  22. Plymouth, MN $2,969
  23. Cedar Park, TX $2,930
  24. Fishers, IN $2,910
  25. League City, TX $2,897
  26. Roswell, GA $2,871
  27. San Jose, CA $2,828
  28. Walnut Creek, CA $2,774
  29. Woodbury, MN $2,757
  30. Arlington, VA $2,708
  31. Redondo Beach, CA $2,667
  32. Plano, TX $2,658
  33. Bolingbrook, IL $2,616
  34. San Ramon, CA $2,612
  35. Union City, CA $2,591
  36. Troy, MI $2,561
  37. Redwood City, CA $2,554
  38. Rochester Hills, MI $2,543
  39. Round Rock, TX $2,538
  40. Somerville, MA $2,500
  41. Olathe, KS $2,500
  42. Columbia, MD $2,499
  43. Sandy, UT $2,487
  44. New Rochelle, NY $2,485
  45. North Richland Hills, TX $2,484
  46. Broomfield, CO $2,432
  47. Buena Park, CA $2,430
  48. Arlington Heights, IL $2,422
  49. Scottsdale, AZ $2,421
  50. Pleasanton, CA $2,394
  51. Maple Grove, MN $2,390
  52. McKinney, TX $2,386
  53. Chandler, AZ $2,369
  54. Shawnee, KS $2,363
  55. Eagan, MN $2,342
  56. Edmond, OK $2,316
  57. Livonia, MI $2,289
  58. Seattle, WA $2,264
  59. Lee's Summit, MO $2,224
  60. Pearland, TX $2,223
  61. Germantown, MD $2,210
  62. Hillsboro, OR $2,203
  63. Irvine, CA $2,200
  64. Kirkland, WA $2,169
  65. San Francisco, CA $2,157
  66. Rockville, MD $2,156
  67. Alexandria, VA $2,147
  68. San Mateo, CA $2,093
  69. Tempe, AZ $2,087
  70. Livermore, CA $2,081
  71. Boca Raton, FL $2,065
  72. Framingham, MA $2,056
  73. Nashua, NH $2,053
  74. Broken Arrow, OK $2,006
  75. Yorba Linda, CA $2,002
  76. Richardson, TX $1,980
  77. Upland, CA $1,968
  78. Bismarck, ND $1,959
  79. Boston, MA $1,936
  80. Cranston, RI $1,933
  81. Carrollton, TX $1,932
  82. Mount Pleasant, SC $1,927
  83. Washington, DC $1,924
  84. South Jordan, UT $1,920
  85. Overland Park, KS $1,917
  86. Thousand Oaks, CA $1,905
  87. Austin, TX $1,905
  88. Stamford, CT $1,894
  89. Gilbert, AZ $1,883
  90. Torrance, CA $1,872
  91. Charleston, SC $1,849
  92. Lewisville, TX $1,848
  93. San Diego, CA $1,843
  94. Huntsville, AL $1,835
  95. Plantation, FL $1,825
  96. Quincy, MA $1,825
  97. Norwalk, CT $1,811
  98. Farmington Hills, MI $1,811
  99. Silver Spring, MD $1,810
  100. Carlsbad, CA $1,810

The Source

  • A study done by WalletHub on Nov. 19