Cottonwood, MN Profile: Facts & Data

The City of Cottonwood had a population of 1,127 as of July 1, 2024. Cottonwood ranks in the upper quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in Minnesota. See peer rankings below.

The primary coordinate point for Cottonwood is located at latitude 44.6088 and longitude -95.6742 in Lyon County. The formal boundaries for the City of Cottonwood encompass a land area of 1.05 sq. miles and a water area of 0 sq. miles. Lyon County is in the Central time zone (GMT -6).

The City of Cottonwood 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.

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

POPULATION
Total Population	1,127 (100%)
Population in Households	1,112 (98.7%)
Population in Families	906 (80.4%)
Population in Group Quarters¹	15 ( 1.3%)
Population Density	1,132
Diversity Index²	21


INCOME
Median Household Income	$87,237
Average Household Income	$98,836
% of Income for Mortgage⁴	15%
Per Capita Income	$40,795
Wealth Index⁵	90
Socioeconomic Status Index⁶	Moderate (54.3)

HOUSING
Total HU (Housing Units)	538 (100%)
Owner Occupied HU	354 (65.8%)
Renter Occupied HU	111 (20.6%)
Vacant Housing Units	73 (13.6%)
Median Home Value	$204,098
Average Home Value	$232,062
Housing Affordability Index³	166

HOUSEHOLDS
Total Households	465
Average Household Size	2.39
Family Households	310
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.

Cottonwood, MN - Peer Comparisons by Rank and Percentile

The table below compares Cottonwood 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	-0.45%	-0.34%
Households	-0.30%	-0.22%
Families		-0.39%
Median Household Income		3.95%
Per Capita Income		3.82%
Owner Occupied HU		0.06%

Variable Description	Rank	Percentile
Total Population	# 342	63rd
Population Density	# 228	75th
Median Household Income	# 279	70th
Housing Affordability Index	# 834	91st
Per Capita Income	# 469	49th
Diversity Index	# 443	52nd

Cottonwood, MN Profile: Facts & Data

Cottonwood, Minnesota - Basic Facts

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

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Cottonwood, MN - Peer Comparisons by Rank and Percentile

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