Living in Lake Benton, Minnesota
Cost of living, income, home prices, rent and demographics of Lake Benton · Census data 2020–2024
Lake Benton has 794 residents with a median age of 37.5. The median household income is $52,250 (41% lower than the Minnesota median), the median home value is $99,800, the median rent is $513/month.
Lake Benton is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Lake Benton at a glance
- Population
- 794
- Median age
- 37.5State: 38.8
- Median household income
- $52,250State: $89,062
- Median home value
- $99,800State: $329,300
- Median rent
- $513/moState: $1,280
- Homeowners
- 73.9%
- Bachelor's degree or higher
- 22.6%
- Average commute
- 23 min
Is Lake Benton a good place to live?
Pros: Home values 70% lower than the state median; unemployment of 3.5%.
Cons: Median household income 41% lower than the Minnesota median; an average commute of 23 minutes; a poverty rate of 21.2%.
The weather is best in June to September.
Cost of living in Lake Benton
Housing is the biggest part of the cost of living. In Lake Benton the median home value is $99,800, 70% lower than the U.S. median. Renters pay a median of $513 per month, which is 39.6% of household income. Homeowners with a mortgage pay $1,168 a month in housing costs.
Lake Benton median household income
The median household income in Lake Benton is $52,250 and the income per person is $30,794. 21.2% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Lake Benton: homes for sale and rent
- Housing units
- 432
- Owner-occupied
- 73.9%
- Renter-occupied
- 26.1%
- Vacant
- 13.9%Includes seasonal homes
- Median year built
- 1961
- Average household size
- 2.13
Lake Benton demographics
- Population
- 794
- Median age
- 37.5
- Under 18
- 24.8%
- 65 and older
- 21.7%
- Households
- 372
- Foreign-born
- 0.6%
- Veterans
- 10.4%Adults 18+
Hispanic or Latino can be of any race. Population history of Lake Benton ›
Education in Lake Benton
22.6% of adults 25 and older in Lake Benton have a bachelor's degree or higher (Minnesota: 39.4%), and 4.7% have a graduate or professional degree.
Jobs and commute in Lake Benton
- Unemployment rate
- 3.5%State: 4.1%
- Average commute
- 23 minState: 23 min
- Work from home
- 10.7%
- Drive alone
- 72.8%
- Public transit
- 0%
- Walk to work
- 2.9%
- Homes with broadband
- 93.5%
Lake Benton vs nearby towns
More for people moving to Lake Benton
Lake Benton ZIP code ›Weather and climate ›Living in Lake Benton: FAQ
What is the median household income in Lake Benton, MN?
The median household income in Lake Benton is $52,250, 41% 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 Lake Benton?
The median home value in Lake Benton is $99,800, compared with $329,300 in Minnesota.
How much is rent in Lake Benton?
The median gross rent in Lake Benton is $513 per month, about 39.6% of household income.
Is Lake Benton, MN a good place to live?
Pluses: home values 70% lower than the state median; unemployment of 3.5%. Minuses: median household income 41% lower than the Minnesota median; an average commute of 23 minutes; a poverty rate of 21.2%.
What is the median age in Lake Benton?
The median age in Lake Benton is 37.5 years (Minnesota: 38.8).
How long is the commute in Lake Benton?
The average commute to work in Lake Benton is 23 minutes; 10.7% of workers work from home.
What is the unemployment rate in Lake Benton?
The unemployment rate in Lake Benton is 3.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Lake Benton?
22.6% of adults in Lake Benton 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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