Hoffman, MN Profile: Facts & Data

The primary coordinate point for Hoffman is located at latitude 45.8294 and longitude -95.792 in Grant County. The formal boundaries for the City of Hoffman encompass a land area of 2.07 sq. miles and a water area of 0 sq. miles. Grant County is in the Central time zone (GMT -6).

The City of Hoffman 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.

Hoffman, MN Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	657 (100%)
Population in Households	648 (98.6%)
Population in Families	482 (73.4%)
Population in Group Quarters¹	9 ( 1.4%)
Population Density	313
Diversity Index²	22


INCOME
Median Household Income	$59,772
Average Household Income	$75,058
% of Income for Mortgage⁴	17%
Per Capita Income	$32,808
Wealth Index⁵	49
Socioeconomic Status Index⁶	Moderate (46.6)

HOUSING
Total HU (Housing Units)	323 (100%)
Owner Occupied HU	207 (64.1%)
Renter Occupied HU	80 (24.8%)
Vacant Housing Units	36 (11.1%)
Median Home Value	$162,019
Average Home Value	$190,821
Housing Affordability Index³	145

HOUSEHOLDS
Total Households	287
Average Household Size	2.26
Family Households	158
Average Family Size	3.00

NOTES

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.
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.
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.
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).
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.
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.

Hoffman, MN - Peer Comparisons by Rank and Percentile

The table below compares Hoffman to the other 914 incorporated cities, towns and CDPs in Minnesota by rank and percentile using July 1, 2024 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.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	-1.41%	-0.46%
Households	-0.16%	-0.07%
Families		0.38%
Median Household Income		5.48%
Per Capita Income		3.26%
Owner Occupied HU		0.29%

Variable Description	Rank	Percentile
Total Population	# 440	52nd
Population Density	# 616	33rd
Median Household Income	# 747	18th
Housing Affordability Index	# 769	84th
Per Capita Income	# 766	16th
Diversity Index	# 402	56th

Hoffman, MN Profile: Facts & Data

Hoffman, Minnesota - Basic Facts

Hoffman, MN Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Hoffman, MN - Peer Comparisons by Rank and Percentile

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