Albert Lea, MN Profile: Facts & Data

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Albert Lea, Minnesota - Basic Facts

The City of Albert Lea had a population of 18,556 as of July 1, 2023. Albert Lea ranks in the upper quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Minnesota. See peer rankings below.

The primary coordinate point for Albert Lea is located at latitude 43.648 and longitude -93.3683 in Freeborn County. The formal boundaries for the City of Albert Lea encompass a land area of 13.1 sq. miles and a water area of 1.83 sq. miles. Freeborn County is in the Central time zone (GMT -6).

The City of Albert Lea 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. Albert Lea 2023 Demographic Data
  2. Growth Rates for Albert Lea (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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Albert Lea, MN Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 18,556 (100%)
Population in Households 18,065 (97.4%)
Population in Families 13,586 (73.2%)
Population in Group Quarters1 491 ( 2.6%)
Population Density 1,397
Diversity Index2 55
 
 

INCOME

Median Household Income $52,256
Average Household Income $75,833
% of Income for Mortgage4 16%
Per Capita Income $32,505
Wealth Index5 70
Socioeconomic Status Index6 Moderate (45.9)
 

HOUSING

Total HU (Housing Units) 8,592 (100%)
Owner Occupied HU 5,668 (66.0%)
Renter Occupied HU 2,276 (26.5%)
Vacant Housing Units 648 ( 7.5%)
Median Home Value $138,682
Average Home Value $173,311
Housing Affordability Index3 145
 

HOUSEHOLDS

Total Households 7,944
Average Household Size 2.27
Family Households 4,573
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 0.11% 0.03%
Households -0.03% 0.13%
Families   0.07%
Median Household Income   1.67%
Per Capita Income   2.31%
Owner Occupied HU   0.42%

Albert Lea, MN - Peer Comparisons by Rank and Percentile

The table below compares Albert Lea 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 # 65 93rd
Population Density # 156 83rd
Median Household Income # 810 11th
Housing Affordability Index # 702 77th
Per Capita Income # 721 21st
Diversity Index # 73 92nd

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

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