Montrose, MN Profile: Facts & Data

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Montrose, Minnesota - Basic Facts

The City of Montrose had a population of 3,809 as of July 1, 2023. Montrose ranks in the upper quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in Minnesota. See peer rankings below.

The primary coordinate point for Montrose is located at latitude 45.065 and longitude -93.9111 in Wright County. The formal boundaries for the City of Montrose encompass a land area of 3.2 sq. miles and a water area of 0.01 sq. miles. Wright County is in the Central time zone (GMT -6).

The City of Montrose has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.


Jump to... (On This Page!)
  1. Montrose 2023 Demographic Data
  2. Growth Rates for Montrose (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Minnesota Research Tools (Easy Tools & Current Data)
  3. Minnesota Data Comparison Tool - 2023 Demographics
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Montrose, MN Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 3,809 (100%)
Population in Households 3,809 (100.0%)
Population in Families 3,237 (85.0%)
Population in Group Quarters1 0
Population Density 1,237
Diversity Index2 23
 
 

INCOME

Median Household Income $91,473
Average Household Income $104,200
% of Income for Mortgage4 19%
Per Capita Income $37,259
Wealth Index5 75
Socioeconomic Status Index6 Moderate (53.2)
 

HOUSING

Total HU (Housing Units) 1,425 (100%)
Owner Occupied HU 1,153 (80.9%)
Renter Occupied HU 209 (14.7%)
Vacant Housing Units 63 ( 4.4%)
Median Home Value $293,825
Average Home Value $341,002
Housing Affordability Index3 122
 

HOUSEHOLDS

Total Households 1,362
Average Household Size 2.80
Family Households 940
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

2020-2023 2023-2028
Population 0.28% -0.13%
Households 0.99% 0.20%
Families   0.00%
Median Household Income   1.85%
Per Capita Income   2.75%
Owner Occupied HU   0.34%

Montrose, MN - Peer Comparisons by Rank and Percentile

The table below compares Montrose to the other 914 incorporated cities, towns and CDPs in Minnesota by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 185 80th
Population Density # 196 79th
Median Household Income # 163 82nd
Housing Affordability Index # 566 62nd
Per Capita Income # 535 42nd
Diversity Index # 379 59th

Additional comparisons and rankings can be made with a VERY EASY TO USE Minnesota Census Data Comparison Tool.

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