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Paynesville, MN Profile: Facts & Data

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Paynesville, Minnesota - Basic Facts

The City of Paynesville had a population of 2,498 as of July 1, 2020.

The primary coordinate point for Paynesville is located at latitude 45.3805 and longitude -94.7119 in Stearns County. The formal boundaries for the City of Paynesville encompass a land area of 2.32 sq. miles and a water area of 0 sq. miles. Stearns County is in the Central time zone (GMT -6). The elevation is 1,171 feet.

The City of Paynesville (GNIS ID: 2396168) 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.

Alternate Unofficial Names for Paynesville: City of Paynesville, New Paynesville.

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Paynesville, MN Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 2,498 (100%)
Population in Households 2,444 (97.8%)
Population in Families 1,922 (76.9%)
Population in Group Quarters1 54 ( 2.2%)
Population Density 1,084
Diversity Index2 14
 
 

INCOME

Median Household Income $53,857
Average Household Income $70,903
% of Income for Mortgage4 16%
Per Capita Income $30,077
Wealth Index5 75
 

HOUSING

Total HU (Housing Units) 1,164 (100%)
Owner Occupied HU 780 (67.0%)
Renter Occupied HU 311 (26.7%)
Vacant Housing Units 73 ( 6.3%)
Median Home Value $204,301
Average Home Value $255,495
Housing Affordability Index3 155
 

HOUSEHOLDS

Total Households 1,091
Average Household Size 2.24
Family Households 697
Average Family Size 3
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.

GROWTH RATE / YEAR

 2010-2020 2020-2025
Population 0.46% 0.64%
Households 0.47% 0.6%
Families 1.09% 0.48%
Median Household Income   1.44%
Per Capita Income   2.1%
Owner Occupied HU   0.76%

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Paynesville, MN - Peer Comparisons by Rank and Percentile

The table below compares Paynesville to the other 903 incorporated cities, towns and CDPs in Minnesota by rank and percentile using July 1, 2020 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 # 236 74th
Population Density # 258 72nd
Median Household Income # 619 31st
Housing Affordability Index # 249 28th
Per Capita Income # 499 45th
Diversity Index # 477 48th

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

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