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Plato, MN Profile: Facts & Data

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Plato, Minnesota - Basic Facts

The City of Plato had a population of 351 as of July 1, 2024.

The primary coordinate point for Plato is located at latitude 44.7744 and longitude -94.04 in McLeod County. The formal boundaries for the City of Plato encompass a land area of 0.35 sq. miles and a water area of 0 sq. miles. McLeod County is in the Central time zone (GMT -6).

The City of Plato 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. Plato 2024 Demographic Data
  2. Growth Rates for Plato (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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Plato, MN Data & Demographics (As of July 1, 2024)

POPULATION

Total Population 351 (100%)
Population in Households 351 (100.0%)
Population in Families 309 (88.0%)
Population in Group Quarters1 0
Population Density 1,012
Diversity Index2 18
 
 

INCOME

Median Household Income $102,006
Average Household Income $118,236
% of Income for Mortgage4 21%
Per Capita Income $46,823
Wealth Index5 126
Socioeconomic Status Index6 Moderate (53.6)
 

HOUSING

Total HU (Housing Units) 151 (100%)
Owner Occupied HU 125 (82.8%)
Renter Occupied HU 14 ( 9.3%)
Vacant Housing Units 12 ( 7.9%)
Median Home Value $344,565
Average Home Value $366,600
Housing Affordability Index3 113
 

HOUSEHOLDS

Total Households 139
Average Household Size 2.53
Family Households 103
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 1.53% 1.60%
Households 1.59% 1.53%
Families   0.95%
Median Household Income   2.27%
Per Capita Income   2.53%
Owner Occupied HU   1.70%

Plato, MN - Peer Comparisons by Rank and Percentile

The table below compares Plato 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 # 572 38th
Population Density # 269 71st
Median Household Income # 145 84th
Housing Affordability Index # 568 62nd
Per Capita Income # 267 71st
Diversity Index # 566 38th

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

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