Also See Minnesota Lake, MN: ZIP Codes & Maps
The City of Minnesota Lake had a population of 683 as of July 1, 2023.
The primary coordinate point for Minnesota Lake is located at latitude 43.8419 and longitude -93.8319 in Faribault County. The formal boundaries for the City of Minnesota Lake encompass a land area of 1.66 sq. miles and a water area of 0.51 sq. miles. Faribault County is in the Central time zone (GMT -6).
The City of Minnesota Lake 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.
POPULATION | |
---|---|
Total Population | 683 (100%) |
Population in Households | 683 (100.0%) |
Population in Families | 532 (77.9%) |
Population in Group Quarters1 | 0 |
Population Density | 422 |
Diversity Index2 | 17 |
INCOME | |
Median Household Income | $66,523 |
Average Household Income | $92,559 |
% of Income for Mortgage4 | 11% |
Per Capita Income | $40,520 |
Wealth Index5 | 95 |
Socioeconomic Status Index6 | Moderate (52.5) |
HOUSING | |
---|---|
Total HU (Housing Units) | 326 (100%) |
Owner Occupied HU | 249 (76.4%) |
Renter Occupied HU | 50 (15.3%) |
Vacant Housing Units | 27 ( 8.3%) |
Median Home Value | $125,298 |
Average Home Value | $170,080 |
Housing Affordability Index3 | 213 |
HOUSEHOLDS | |
Total Households | 299 |
Average Household Size | 2.28 |
Family Households | 185 |
Average Family Size | 3.00 |
GROWTH RATE / YEAR |
2020-2023 | 2023-2028 |
---|---|---|
Population | 1.01% | -0.26% |
Households | -0.41% | -0.20% |
Families | 0.00% | |
Median Household Income | 1.80% | |
Per Capita Income | 2.58% | |
Owner Occupied HU | -0.08% |
The table below compares Minnesota Lake 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 | # 433 | 53rd |
Population Density | # 546 | 40th |
Median Household Income | # 510 | 44th |
Housing Affordability Index | # 863 | 94th |
Per Capita Income | # 394 | 57th |
Diversity Index | # 583 | 36th |
Additional comparisons and rankings can be made with a VERY EASY TO USE Minnesota Census Data Comparison Tool.
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