Living in Finland, Minnesota
Cost of living, income, home prices, rent and demographics of Finland · Census data 2020–2024
Finland has 257 residents with a median age of 54.8. The median household income is $53,500 (40% lower than the Minnesota median), the median home value is $181,700, the median rent is $679/month.
Finland is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Finland at a glance
- Population
- 257
- Median age
- 54.8State: 38.8
- Median household income
- $53,500State: $89,062
- Median home value
- $181,700State: $329,300
- Median rent
- $679/moState: $1,280
- Homeowners
- 85.7%
- Bachelor's degree or higher
- 13.7%
- Average commute
- 29 min
Is Finland a good place to live?
Pros: Home values 45% lower than the state median.
Cons: Median household income 40% lower than the Minnesota median; an average commute of 29 minutes; unemployment of 10.3%; a poverty rate of 19.8%.
The weather is best in June to September.
Cost of living in Finland
Housing is the biggest part of the cost of living. In Finland the median home value is $181,700, 45% lower than the U.S. median. Renters pay a median of $679 per month, which is 27.4% of household income. Homeowners with a mortgage pay $1,197 a month in housing costs.
Finland median household income
The median household income in Finland is $53,500 and the income per person is $34,279. 19.8% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Finland: homes for sale and rent
- Housing units
- 187
- Owner-occupied
- 85.7%
- Renter-occupied
- 14.3%
- Vacant
- 17.6%Includes seasonal homes
- Median year built
- 1967
- Average household size
- 1.67
Finland demographics
- Population
- 257
- Median age
- 54.8
- Under 18
- 7.8%
- 65 and older
- 26.8%
- Households
- 154
- Foreign-born
- 0.8%
- Veterans
- 9.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Finland ›
Education in Finland
13.7% of adults 25 and older in Finland have a bachelor's degree or higher (Minnesota: 39.4%), and 6.2% have a graduate or professional degree.
Jobs and commute in Finland
- Unemployment rate
- 10.3%State: 4.1%
- Average commute
- 29 minState: 23 min
- Work from home
- 17%
- Drive alone
- 76.6%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 70.8%
Finland vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Finland | 257 | $53,500 | $181,700 | $679 |
| Silver Bay | 1,769 | $69,489 | $158,900 | $1,140 |
| Lutsen | 222 | $76,944 | $376,700 | $1,010 |
| Two Harbors | 3,567 | $65,625 | $206,800 | $1,079 |
| Babbitt | 1,393 | $55,875 | $102,300 | $737 |
| Cornucopia | 108 | $104,375 | $279,400 | — |
| Knife River | 131 | $78,208 | — | — |
| Winton | 124 | $52,250 | $92,500 | $638 |
| Ely | 3,240 | $43,901 | $157,300 | $627 |
More for people moving to Finland
Finland ZIP code ›Weather and climate ›Living in Finland: FAQ
What is the median household income in Finland, MN?
The median household income in Finland is $53,500, 40% 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 Finland?
The median home value in Finland is $181,700, compared with $329,300 in Minnesota.
How much is rent in Finland?
The median gross rent in Finland is $679 per month, about 27.4% of household income.
Is Finland, MN a good place to live?
Pluses: home values 45% lower than the state median. Minuses: median household income 40% lower than the Minnesota median; an average commute of 29 minutes; unemployment of 10.3%; a poverty rate of 19.8%.
What is the median age in Finland?
The median age in Finland is 54.8 years (Minnesota: 38.8).
How long is the commute in Finland?
The average commute to work in Finland is 29 minutes; 17% of workers work from home.
What is the unemployment rate in Finland?
The unemployment rate in Finland is 10.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Finland?
13.7% of adults in Finland 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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