Medford, MN Profile: Facts & Data

The City of Medford had a population of 1,368 as of July 1, 2024. Medford ranks in the upper quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Minnesota. See peer rankings below.

The primary coordinate point for Medford is located at latitude 44.1741 and longitude -93.2463 in Steele County. The formal boundaries for the City of Medford encompass a land area of 1.15 sq. miles and a water area of 0 sq. miles. Steele County is in the Central time zone (GMT -6).

The City of Medford 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.

Medford, MN Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	1,368 (100%)
Population in Households	1,340 (98.0%)
Population in Families	1,114 (81.4%)
Population in Group Quarters¹	28 ( 2.0%)
Population Density	1,146
Diversity Index²	50


INCOME
Median Household Income	$92,658
Average Household Income	$112,585
% of Income for Mortgage⁴	20%
Per Capita Income	$42,089
Wealth Index⁵	106
Socioeconomic Status Index⁶	Moderate (45.3)

HOUSING
Total HU (Housing Units)	515 (100%)
Owner Occupied HU	442 (85.8%)
Renter Occupied HU	69 (13.4%)
Vacant Housing Units	4 ( 0.8%)
Median Home Value	$293,590
Average Home Value	$325,283
Housing Affordability Index³	118

HOUSEHOLDS
Total Households	511
Average Household Size	2.62
Family Households	373
Average Family Size	3.00

NOTES

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.
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.
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.
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).
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.
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.

Medford, MN - Peer Comparisons by Rank and Percentile

The table below compares Medford 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.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	0.93%	0.22%
Households	1.19%	0.50%
Families		1.00%
Median Household Income		3.00%
Per Capita Income		3.51%
Owner Occupied HU		0.89%

Variable Description	Rank	Percentile
Total Population	# 317	65th
Population Density	# 218	76th
Median Household Income	# 229	75th
Housing Affordability Index	# 608	67th
Per Capita Income	# 415	55th
Diversity Index	# 104	89th

Medford, MN Profile: Facts & Data

Medford, Minnesota - Basic Facts

Medford, MN Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Medford, MN - Peer Comparisons by Rank and Percentile

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