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Red Lake Falls, MN Profile: Facts & Data

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Red Lake Falls, Minnesota - Basic Facts

The City of Red Lake Falls had a population of 1,329 as of July 1, 2024.

The primary coordinate point for Red Lake Falls is located at latitude 47.8822 and longitude -96.2742 in Red Lake County. The formal boundaries for the City of Red Lake Falls encompass a land area of 2.03 sq. miles and a water area of 0 sq. miles. Red Lake County is in the Central time zone (GMT -6).

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

POPULATION

Total Population 1,329 (100%)
Population in Households 1,300 (97.8%)
Population in Families 1,020 (76.7%)
Population in Group Quarters1 29 ( 2.2%)
Population Density 633
Diversity Index2 19
 
 

INCOME

Median Household Income $63,117
Average Household Income $78,087
% of Income for Mortgage4 17%
Per Capita Income $34,577
Wealth Index5 62
Socioeconomic Status Index6 Moderate (52.9)
 

HOUSING

Total HU (Housing Units) 677 (100%)
Owner Occupied HU 443 (65.4%)
Renter Occupied HU 145 (21.4%)
Vacant Housing Units 89 (13.1%)
Median Home Value $169,415
Average Home Value $253,104
Housing Affordability Index3 144
 

HOUSEHOLDS

Total Households 588
Average Household Size 2.21
Family Households 361
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 -0.18% -0.08%
Households -0.04% 0.00%
Families   -0.39%
Median Household Income   4.47%
Per Capita Income   2.72%
Owner Occupied HU   0.76%

Red Lake Falls, MN - Peer Comparisons by Rank and Percentile

The table below compares Red Lake Falls 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 # 322 65th
Population Density # 423 54th
Median Household Income # 695 24th
Housing Affordability Index # 764 84th
Per Capita Income # 719 21st
Diversity Index # 507 44th

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

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