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Credit River, MN Profile: Facts & Data

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Credit River, Minnesota - Basic Facts

The Credit River had a population of 5,614 as of July 1, 2023.

The primary coordinate point for Credit River is located at latitude 44.6744 and longitude -93.3791 in Scott County. Scott County is in the Central time zone (GMT -6).

It also has a Functional Status Code of ""

The Credit River is located within Township of Credit River (historical), a minor civil division (MCD) of Scott County.


Jump to... (On This Page!)
  1. Credit River 2023 Demographic Data
  2. Growth Rates for Credit River (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 - 2023 Demographics
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Credit River, MN Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 5,614 (100%)
Population in Households 5,607 (99.9%)
Population in Families 5,193 (92.5%)
Population in Group Quarters1 7 ( 0.1%)
Population Density 240
Diversity Index2 19
 
 

INCOME

Median Household Income $148,738
Average Household Income $200,873
% of Income for Mortgage4 21%
Per Capita Income $66,518
Wealth Index5 280
Socioeconomic Status Index6 High (76.9)
 

HOUSING

Total HU (Housing Units) 1,909 (100%)
Owner Occupied HU 1,828 (95.8%)
Renter Occupied HU 31 ( 1.6%)
Vacant Housing Units 50 ( 2.6%)
Median Home Value $514,591
Average Home Value $581,127
Housing Affordability Index3 114
 

HOUSEHOLDS

Total Households 1,859
Average Household Size 3.02
Family Households 1,600
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

 2020-2023 2023-2028
Population 0.67% 2.14%
Households 0.74% 2.11%
Families   2.19%
Median Household Income   2.08%
Per Capita Income   2.09%
Owner Occupied HU   2.17%

Credit River, MN - Peer Comparisons by Rank and Percentile

The table below compares Credit River to the other 914 incorporated cities, towns and CDPs in Minnesota by rank and percentile using July 1, 2023 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 # 141 85th
Population Density # 670 27th
Median Household Income # 16 98th
Housing Affordability Index # 491 54th
Per Capita Income # 36 96th
Diversity Index # 515 44th

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

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