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Twin Lakes, MN Profile: Facts & Data

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Twin Lakes, Minnesota - Basic Facts

The City of Twin Lakes had a population of 147 as of July 1, 2020. Twin Lakes ranks in the lower quartile for 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 Twin Lakes is located at latitude 43.5597 and longitude -93.423 in Freeborn County. The formal boundaries for the City of Twin Lakes encompass a land area of 0.49 sq. miles and a water area of 0.02 sq. miles. Freeborn County is in the Central time zone (GMT -6). The elevation is 1,253 feet.

The City of Twin Lakes (GNIS ID: 2397072) 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 Twin Lakes: City of Twin Lakes.

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Twin Lakes, MN Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 147 (100%)
Population in Households 147 (100.0%)
Population in Families 122 (83.0%)
Population in Group Quarters1 0
Population Density 302
Diversity Index2 8
 
 

INCOME

Median Household Income $64,775
Average Household Income $81,587
% of Income for Mortgage4 12%
Per Capita Income $34,425
Wealth Index5 91
 

HOUSING

Total HU (Housing Units) 85 (100%)
Owner Occupied HU 62 (72.9%)
Renter Occupied HU 12 (14.1%)
Vacant Housing Units 11 (12.9%)
Median Home Value $190,909
Average Home Value $204,435
Housing Affordability Index3 221
 

HOUSEHOLDS

Total Households 74
Average Household Size 1.99
Family Households 53
Average Family Size 2
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.

GROWTH RATE / YEAR

 2010-2020 2020-2025
Population -0.26% -0.14%
Households -0.26% 0.0%
Families 3.3% 0.0%
Median Household Income   2.6%
Per Capita Income   1.75%
Owner Occupied HU   0.0%

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Twin Lakes, MN - Peer Comparisons by Rank and Percentile

The table below compares Twin Lakes to the other 903 incorporated cities, towns and CDPs in Minnesota by rank and percentile using July 1, 2020 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 # 749 17th
Population Density # 622 31st
Median Household Income # 335 63rd
Housing Affordability Index # 606 67th
Per Capita Income # 266 71st
Diversity Index # 776 14th

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

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