Living in Balaton, Minnesota
Cost of living, income, home prices, rent and demographics of Balaton · Census data 2020–2024
Balaton has 551 residents with a median age of 48.6. The median household income is $54,688 (39% lower than the Minnesota median), the median home value is $94,000, the median rent is $1,138/month.
Balaton is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Balaton at a glance
- Population
- 551
- Median age
- 48.6State: 38.8
- Median household income
- $54,688State: $89,062
- Median home value
- $94,000State: $329,300
- Median rent
- $1,138/moState: $1,280
- Homeowners
- 74.9%
- Bachelor's degree or higher
- 15.4%
- Average commute
- 28 min
Is Balaton a good place to live?
Pros: Home values 71% lower than the state median; unemployment of 3.3%.
Cons: Median household income 39% lower than the Minnesota median; an average commute of 28 minutes; a poverty rate of 17.7%.
The weather is best in June to September.
Cost of living in Balaton
Housing is the biggest part of the cost of living. In Balaton the median home value is $94,000, 72% lower than the U.S. median. Renters pay a median of $1,138 per month, which is 31.3% of household income. Homeowners with a mortgage pay $1,324 a month in housing costs.
Balaton median household income
The median household income in Balaton is $54,688 and the income per person is $33,950. 17.7% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Balaton: homes for sale and rent
- Housing units
- 279
- Owner-occupied
- 74.9%
- Renter-occupied
- 25.1%
- Vacant
- 7.2%Includes seasonal homes
- Median year built
- 1951
- Average household size
- 2.05
Balaton demographics
- Population
- 551
- Median age
- 48.6
- Under 18
- 23%
- 65 and older
- 24.9%
- Households
- 259
- Foreign-born
- 1.8%
- Veterans
- 10.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Balaton ›
Education in Balaton
15.4% of adults 25 and older in Balaton have a bachelor's degree or higher (Minnesota: 39.4%), and 3.1% have a graduate or professional degree.
Jobs and commute in Balaton
- Unemployment rate
- 3.3%State: 4.1%
- Average commute
- 28 minState: 23 min
- Work from home
- 11.3%
- Drive alone
- 78.2%
- Public transit
- 0%
- Walk to work
- 1.2%
- Homes with broadband
- 89.2%
Balaton vs nearby towns
More for people moving to Balaton
Balaton ZIP code ›Weather and climate ›Living in Balaton: FAQ
What is the median household income in Balaton, MN?
The median household income in Balaton is $54,688, 39% lower than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Balaton?
The median home value in Balaton is $94,000, compared with $329,300 in Minnesota.
How much is rent in Balaton?
The median gross rent in Balaton is $1,138 per month, about 31.3% of household income.
Is Balaton, MN a good place to live?
Pluses: home values 71% lower than the state median; unemployment of 3.3%. Minuses: median household income 39% lower than the Minnesota median; an average commute of 28 minutes; a poverty rate of 17.7%.
What is the median age in Balaton?
The median age in Balaton is 48.6 years (Minnesota: 38.8).
How long is the commute in Balaton?
The average commute to work in Balaton is 28 minutes; 11.3% of workers work from home.
What is the unemployment rate in Balaton?
The unemployment rate in Balaton is 3.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Balaton?
15.4% of adults in Balaton have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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