Minnesota Lake, MN Profile: Facts & Data

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Minnesota Lake, Minnesota - Basic Facts

The City of Minnesota Lake had a population of 729 as of July 1, 2019.

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 elevation is 1,043 feet.

The City of Minnesota Lake (GNIS ID: 2395349) 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.

Alternate Unofficial Names for Minnesota Lake: City of Minnesota Lake.

Jump to... (On This Page!)
  1. Minnesota Lake 2019 Demographic Data
  2. Growth Rates for Minnesota Lake (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 - 2019 Demographics

Minnesota Lake, MN - Most Popular Things to Do

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Boundary Maps, Demographic Data, School Zones Review maps and data for the neighborhood, city, county, ZIP Code, and school zone. July 1, 2019, data includes home values, household income, percentage of homes owned, rented or vacant, etc.


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Minnesota Lake, MN Data & Demographics (As of July 1, 2019)

HOUSING AFFORDABILITY INDEX

Minnesota Lake, MN Housing Affordability Index is 260
State of Minnesota Housing Affordability Index is 135
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.

WEALTH INDEX

Minnesota Lake, MN Wealth Index is 76
State of Minnesota Wealth Index is 112
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.

These new demographic attributes are availiable for Neighborhoods, Cities, Counties, and ZIP Codes.

More Tools and Resources:

  1. For information about schools and school attendance zones, use the HTL Address Tool
  2. Our new HTL Neighborhood Explorer provides lots of detail about any neighborhood.
  3. The new 2-Minute Introduction and Concise Guide to Big Data which will help you make the most effective use of HomeTownLocator Tools.
  4. See the References & Data Sources page for more information about methodology and sources of data.
  5. See the Minnesota COVID-19 Data and US COVID-19 Data for more information on the spread of the novel coronavirus.

POPULATION

Total Population 729 (100%)
Population in Households 729 (100.0%)
Population in Families 573 (78.6%)
Population in Group Quarters1 0
Population Density 451
Diversity Index2 10
 

INCOME

Median Household Income $54,230
Average Household Income $71,895
Per Capita Income $31,249
Wealth Index4 76

HOUSING

Total Housing Units 356 (100%)
Owner Occupied HU 242 (68.0%)
Renter Occupied HU 71 (19.9%)
Vacant Housing Units 43 (12.1%)
Median Home Value $108,173
Housing Affordability Index3 260
 

HOUSEHOLDS

Total Households 313
Average Household Size 2.33
Family Households 202
Average Family Size 3
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 race 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 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.

GROWTH RATE / YEAR

2010-2019 2019-2024
Population 0.64% 0.22%
Households 0.64% 0.25%
Families 0.55% 0.2%
Median Household Income   1.09%
Per Capita Income   2.44%

Minnesota Lake, MN - Peer Comparisons by Rank and Percentile

The table below compares Minnesota Lake to the other 903 incorporated cities, towns and CDPs in Minnesota by rank and percentile using July 1, 2019 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 # 418 53rd
Population Density # 536 41st
Diversity Index # 659 27th
Median Household Income # 580 36th
Per Capita Income # 420 54th

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

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