Insurance Agent Salary in Cottage Grove, MN: $66,667 (2026)
Quick Answer:A full-time insurance agent in Cottage Grove, MN earns a median $66,667/year (≈ $32.05/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 41-3021). Once you factor in Cottage Grove's price level (1% below national, BEA RPP 98.5), that paycheck buys what $67,682 would nationally. Nominal pay sits 1.3% below the Minnesota state average.
Based on BLS state-level estimates · View source
In Cottage Grove, Minnesota, an insurance agent's annual compensation averages $66,667 in 2026, showcasing a competitive edge compared to the national median of $64,522. Professionals in this field can expect earnings to vary significantly, with a salary range extending from $40,618 at the bottom decile to as high as $103,334 at the top. These figures, derived from 2025 BLS data projected for 2026, reflect regional price adjustments and local market dynamics. The structural divide between captive agents affiliated with major carriers like State Farm and Allstate, independent agents, and those working within commercial brokerages helps shape compensation trends. Understanding this division is vital for aspiring agents evaluating their career trajectories in Cottage Grove's evolving insurance landscape.
About the Cottage Grove Market
Salary estimated from Minnesota average ($68,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $40,618 | $19.53 |
| Lower Range (P25) | $50,009 | $24.05 |
| Median (P50)(typical) | $66,667 | $32.05 |
| Upper Range (P75) | $85,333 | $41.03 |
| Top Earners (P90) | $103,334 | $49.68 |
Median Salary Position
3.32% above the national average
2026 Salary Percentile Distribution in Cottage Grove
In Cottage Grove, MN, the insurance agent salary spread from the 10th to 90th percentile is $62,716 (2026 est.). At $66,667, the local median is 3.32% above the national median of $64,522.
Salary Calculator
At 40 hours/week in Cottage Grove: You'd be in the lower-middle range
How Cottage Grove Insurance Agent Pay Compares
Cottage Grove median: $66,667/year (2026)
| Compared To | Median Salary | Cottage Grove Pays |
|---|---|---|
| Minnesota Average | $67,545 | -1.30% less |
| National Average | $64,522 | +3.32% more |
Insurance Agents in Cottage Grove, MN earn a median of $66,667 per year (2026 est.), which is 3.32% higher than the national median of $64,522 and 1.30% below the Minnesota state average of $67,545.
Cost-of-Living Adjusted Salary
Cottage Grove has a cost of living 1.50% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Cottage Grove, MN has a cost-of-living index of 98.5 (below the national average of 100). A insurance agent earning $66,667 nominally has purchasing power equivalent to $67,682 in an average-cost city — an effective 1.52% boost.
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2019 BLS Actual
$52,633
2025 BLS Actual
$64,350
2026 Current Est.
$66,667
2019–2027 Growth
+31.2%
Salary Trajectory for Insurance Agents in Cottage Grove (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.60% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $52,633 | Actual |
| 2020 | $53,914 | Actual |
| 2021 | $51,497 | Actual |
| 2022 | $59,783 | Actual |
| 2023 | $61,044 | Actual |
| 2024 | $66,106 | Actual |
| 2025 | $64,350 | Actual |
| 2026(current) | $66,667 | Estimated |
| 2027 | $69,067 | Projected |
Based on 7 years of BLS OEWS data for the Cottage Grove metropolitan area, the median insurance agent salary grew 22.3% from $52,633 (2019) to $64,350 (2025). At a 3.60% compound annual growth rate, salaries are projected to reach $69,067 by 2027 — a total increase of $16,434 (31.22%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Cottage Grove metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.60% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $40,618 – $50,009 |
| 3-5 years (Mid Career) | $50,009 – $66,667 |
| 5+ years (Experienced) | $66,667 – $85,333 |
| 10+ years (Top Earner) | $85,333 – $103,334 |
Agent salary ranges estimated from BLS percentile data. Individual insurance agent compensation varies by employer, certifications, and specialization.
Insurance Agent Job Market in Cottage Grove
Looking deeper into the local job market, there are currently eight insurance agents employed in Cottage Grove, indicating a niche market for this profession. The cost-of-living index stands at 98.5, slightly below the national average, affecting the purchasing power of salaries within the community. Captive agents at well-known insurers tend to earn salaries on the higher end of the spectrum due to the structured commissions and training provided, while independent agencies and large commercial brokerages like Aon or Marsh frequently pay more based on the volume of business cultivated. Those looking to increase their earnings should focus on specializing in commercial lines, as these positions often command higher commissions than personal lines. Building a substantial book of business and considering agency ownership can also significantly enhance earning potential, making strategic career moves crucial for maximizing insurance agent pay in Cottage Grove, MN.
More salary data for Cottage Grove, MN:
Frequently Asked Questions
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Written by Jordan Lee, MBA
Career Analyst
Jordan has over 10 years of experience in the insurance industry. He specializes in property and casualty insurance. He has worked in both agency and corporate settings.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $64,350 for insurance agentsin the Cottage Grove metropolitan area. A 3.60% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Cottage Grove is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.60%, derived from historical BLS wage trends for insurance agents (SOC 41-3021).
Compiled and verified by Jordan Lee, MBA, a licensed insurance agent with 10+ years of clinical experience. · View source data at BLS.gov