Living in Granite Falls, Minnesota
Cost of living, income, home prices, rent and demographics of Granite Falls · Census data 2020–2024
Granite Falls has 2,685 residents with a median age of 40.3. The median household income is $59,375 (33% lower than the Minnesota median), the median home value is $136,700, the median rent is $920/month.
Granite Falls at a glance
- Population
- 2,685
- Median age
- 40.3State: 38.8
- Median household income
- $59,375State: $89,062
- Median home value
- $136,700State: $329,300
- Median rent
- $920/moState: $1,280
- Homeowners
- 74.5%
- Bachelor's degree or higher
- 21.1%
- Average commute
- 17 min
Is Granite Falls a good place to live?
Pros: Home values 58% lower than the state median; an average commute of 17 minutes; a poverty rate of 7.7%.
Cons: Median household income 33% lower than the Minnesota median; unemployment of 4.7%.
The weather is best in May–June and August–September.
Cost of living in Granite Falls
Housing is the biggest part of the cost of living. In Granite Falls the median home value is $136,700, 59% lower than the U.S. median. Renters pay a median of $920 per month, which is 25.3% of household income. Homeowners with a mortgage pay $1,377 a month in housing costs.
Granite Falls median household income
The median household income in Granite Falls is $59,375 and the income per person is $38,349. 7.7% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Granite Falls: homes for sale and rent
- Housing units
- 1,246
- Owner-occupied
- 74.5%
- Renter-occupied
- 25.5%
- Vacant
- 0.6%Includes seasonal homes
- Median year built
- 1971
- Average household size
- 2.06
Granite Falls demographics
- Population
- 2,685
- Median age
- 40.3
- Under 18
- 20.2%
- 65 and older
- 22.7%
- Households
- 1,239
- Foreign-born
- 5.1%
- Veterans
- 9.1%Adults 18+
Hispanic or Latino can be of any race. Population history of Granite Falls ›
Education in Granite Falls
21.1% of adults 25 and older in Granite Falls have a bachelor's degree or higher (Minnesota: 39.4%), and 6.1% have a graduate or professional degree.
Jobs and commute in Granite Falls
- Unemployment rate
- 4.7%State: 4.1%
- Average commute
- 17 minState: 23 min
- Work from home
- 3.2%
- Drive alone
- 77.9%
- Public transit
- 1.5%
- Walk to work
- 4.5%
- Homes with broadband
- 87.3%
Granite Falls vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Granite Falls | 2,685 | $59,375 | $136,700 | $920 |
| Maynard | 234 | $41,563 | $80,000 | $1,420 |
| Hanley Falls | 248 | $61,563 | $75,300 | $630 |
| Sacred Heart | 481 | $70,667 | $85,700 | $692 |
| Wood Lake | 368 | $65,000 | $91,700 | $628 |
| Montevideo | 5,315 | $68,596 | $141,000 | $851 |
| Clarkfield | 913 | $63,359 | $95,600 | $833 |
| Clara City | 1,466 | $63,636 | $114,300 | $1,068 |
| Echo | 197 | $70,833 | $103,600 | $617 |
More for people moving to Granite Falls
Granite Falls ZIP code ›Weather and climate ›Living in Granite Falls: FAQ
What is the median household income in Granite Falls, MN?
The median household income in Granite Falls is $59,375, 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 Granite Falls?
The median home value in Granite Falls is $136,700, compared with $329,300 in Minnesota.
How much is rent in Granite Falls?
The median gross rent in Granite Falls is $920 per month, about 25.3% of household income.
Is Granite Falls, MN a good place to live?
Pluses: home values 58% lower than the state median; an average commute of 17 minutes; a poverty rate of 7.7%. Minuses: median household income 33% lower than the Minnesota median; unemployment of 4.7%.
What is the median age in Granite Falls?
The median age in Granite Falls is 40.3 years (Minnesota: 38.8).
How long is the commute in Granite Falls?
The average commute to work in Granite Falls is 17 minutes; 3.2% of workers work from home.
What is the unemployment rate in Granite Falls?
The unemployment rate in Granite Falls is 4.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Granite Falls?
21.1% of adults in Granite Falls 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.
Last updated: