Living in Farwell, Minnesota
Cost of living, income, home prices, rent and demographics of Farwell · Census data 2020–2024
Farwell has 43 residents with a median age of 41.1. The median household income is $59,792 (33% lower than the Minnesota median), the median home value is $126,800.
Farwell is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Farwell at a glance
- Population
- 43
- Median age
- 41.1State: 38.8
- Median household income
- $59,792State: $89,062
- Median home value
- $126,800State: $329,300
- Homeowners
- 92%
- Bachelor's degree or higher
- 12%
- Average commute
- 26 min
Is Farwell a good place to live?
Pros: Home values 61% lower than the state median.
Cons: Median household income 33% lower than the Minnesota median; an average commute of 26 minutes; a poverty rate of 14%.
The weather is best in June to September.
Cost of living in Farwell
Housing is the biggest part of the cost of living. In Farwell the median home value is $126,800, 62% lower than the U.S. median. Renters pay a median of — per month. Homeowners with a mortgage pay $1,219 a month in housing costs.
Farwell median household income
The median household income in Farwell is $59,792 and the income per person is $36,821. 14% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Farwell: homes for sale and rent
- Housing units
- 25
- Owner-occupied
- 92%
- Renter-occupied
- 8%
- Vacant
- 0%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 1.72
Farwell demographics
- Population
- 43
- Median age
- 41.1
- Under 18
- 18.6%
- 65 and older
- 14%
- Households
- 25
- Foreign-born
- 0%
- Veterans
- 5.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Farwell ›
Education in Farwell
12% of adults 25 and older in Farwell have a bachelor's degree or higher (Minnesota: 39.4%), and 4% have a graduate or professional degree.
Jobs and commute in Farwell
- Unemployment rate
- 0%State: 4.1%
- Average commute
- 26 minState: 23 min
- Work from home
- 3.8%
- Drive alone
- 96.2%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 96%
Farwell vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Farwell | 43 | $59,792 | $126,800 | — |
| Kensington | 240 | $46,000 | $110,700 | $650 |
| Lowry | 348 | $80,000 | $177,100 | $856 |
| Hoffman | 730 | $51,500 | $161,800 | $866 |
| Starbuck | 1,235 | $72,583 | $168,300 | $1,000 |
| Cyrus | 355 | $57,083 | $105,200 | $679 |
| Long Beach | 318 | $92,361 | $367,300 | — |
| Glenwood | 2,633 | $42,188 | $179,400 | $865 |
| Forada | 161 | $80,500 | $288,600 | $1,094 |
More for people moving to Farwell
Farwell ZIP code ›Weather and climate ›Living in Farwell: FAQ
What is the median household income in Farwell, MN?
The median household income in Farwell is $59,792, 33% 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 Farwell?
The median home value in Farwell is $126,800, compared with $329,300 in Minnesota.
Is Farwell, MN a good place to live?
Pluses: home values 61% lower than the state median. Minuses: median household income 33% lower than the Minnesota median; an average commute of 26 minutes; a poverty rate of 14%.
What is the median age in Farwell?
The median age in Farwell is 41.1 years (Minnesota: 38.8).
How long is the commute in Farwell?
The average commute to work in Farwell is 26 minutes; 3.8% of workers work from home.
What is the unemployment rate in Farwell?
The unemployment rate in Farwell is 0% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Farwell?
12% of adults in Farwell 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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