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Welcome, MN Profile: Facts & Data

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Welcome, Minnesota - Basic Facts

The City of Welcome had a population of 694 as of July 1, 2024.

The primary coordinate point for Welcome is located at latitude 43.6669 and longitude -94.6194 in Martin County. The formal boundaries for the City of Welcome encompass a land area of 1.46 sq. miles and a water area of 0 sq. miles. Martin County is in the Central time zone (GMT -6).

The City of Welcome 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.


Jump to... (On This Page!)
  1. Welcome 2024 Demographic Data
  2. Growth Rates for Welcome (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 - 2024 Demographics
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Welcome, MN Data & Demographics (As of July 1, 2024)

POPULATION

Total Population 694 (100%)
Population in Households 694 (100.0%)
Population in Families 517 (74.5%)
Population in Group Quarters1 0
Population Density 477
Diversity Index2 16
 
 

INCOME

Median Household Income $55,836
Average Household Income $71,000
% of Income for Mortgage4 14%
Per Capita Income $30,999
Wealth Index5 58
Socioeconomic Status Index6 Moderate (53.8)
 

HOUSING

Total HU (Housing Units) 336 (100%)
Owner Occupied HU 245 (72.9%)
Renter Occupied HU 58 (17.3%)
Vacant Housing Units 33 ( 9.8%)
Median Home Value $124,107
Average Home Value $212,347
Housing Affordability Index3 174
 

HOUSEHOLDS

Total Households 303
Average Household Size 2.29
Family Households 182
Average Family Size 3.00
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.
  6. 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.

GROWTH RATE / YEAR

 2020-2024 2024-2029
Population -0.53% -0.47%
Households -0.46% -0.27%
Families   0.00%
Median Household Income   2.41%
Per Capita Income   3.75%
Owner Occupied HU   -0.25%

Welcome, MN - Peer Comparisons by Rank and Percentile

The table below compares Welcome 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.

Variable Description Rank Percentile
Total Population # 430 53rd
Population Density # 502 45th
Median Household Income # 804 12th
Housing Affordability Index # 857 94th
Per Capita Income # 815 11th
Diversity Index # 634 31st

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

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