Living in Loretto, Minnesota
Cost of living, income, home prices, rent and demographics of Loretto · Census data 2020–2024
Loretto has 784 residents with a median age of 37. The median household income is $114,167 (28% higher than the Minnesota median), the median home value is $361,500, the median rent is $630/month.
Loretto is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Loretto at a glance
- Population
- 784
- Median age
- 37State: 38.8
- Median household income
- $114,167State: $89,062
- Median home value
- $361,500State: $329,300
- Median rent
- $630/moState: $1,280
- Homeowners
- 83.8%
- Bachelor's degree or higher
- 45.4%
- Average commute
- 29 min
Is Loretto a good place to live?
Pros: Median household income 28% higher than the Minnesota median; unemployment of 1.4%; a poverty rate of 7.4%.
Cons: Home values 10% higher than the state median; an average commute of 29 minutes.
The weather is best in June to September.
Cost of living in Loretto
Housing is the biggest part of the cost of living. In Loretto the median home value is $361,500, 9% higher than the U.S. median. Renters pay a median of $630 per month, which is 24.2% of household income. Homeowners with a mortgage pay $2,530 a month in housing costs.
Loretto median household income
The median household income in Loretto is $114,167 and the income per person is $61,954. 7.4% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Loretto: homes for sale and rent
- Housing units
- 303
- Owner-occupied
- 83.8%
- Renter-occupied
- 16.2%
- Vacant
- 4.3%Includes seasonal homes
- Median year built
- 1992
- Average household size
- 2.70
Loretto demographics
- Population
- 784
- Median age
- 37
- Under 18
- 28.4%
- 65 and older
- 14.4%
- Households
- 290
- Foreign-born
- 3.2%
- Veterans
- 3.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Loretto ›
Education in Loretto
45.4% of adults 25 and older in Loretto have a bachelor's degree or higher (Minnesota: 39.4%), and 10.9% have a graduate or professional degree.
Jobs and commute in Loretto
- Unemployment rate
- 1.4%State: 4.1%
- Average commute
- 29 minState: 23 min
- Work from home
- 19.2%
- Drive alone
- 71.8%
- Public transit
- 0.5%
- Walk to work
- 2.8%
- Homes with broadband
- 93.8%
Loretto vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Loretto | 784 | $114,167 | $361,500 | $630 |
| Maple Plain | 1,701 | $93,750 | $359,900 | $1,140 |
| Medina | 6,968 | $230,859 | $736,700 | $1,429 |
| Greenfield | 2,894 | $153,750 | $567,700 | — |
| Corcoran | 7,302 | $133,423 | $569,400 | — |
| Independence | 3,694 | $186,597 | $663,400 | $3,469 |
| Long Lake | 1,728 | $109,063 | $422,600 | $1,809 |
| Rockford | 4,597 | $94,162 | $329,200 | $1,046 |
| Orono | 8,195 | $173,527 | $1,004,500 | $1,818 |
More for people moving to Loretto
Loretto ZIP code ›Weather and climate ›Living in Loretto: FAQ
What is the median household income in Loretto, MN?
The median household income in Loretto is $114,167, 28% higher 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 Loretto?
The median home value in Loretto is $361,500, compared with $329,300 in Minnesota.
How much is rent in Loretto?
The median gross rent in Loretto is $630 per month, about 24.2% of household income.
Is Loretto, MN a good place to live?
Pluses: median household income 28% higher than the Minnesota median; unemployment of 1.4%; a poverty rate of 7.4%. Minuses: home values 10% higher than the state median; an average commute of 29 minutes.
What is the median age in Loretto?
The median age in Loretto is 37 years (Minnesota: 38.8).
How long is the commute in Loretto?
The average commute to work in Loretto is 29 minutes; 19.2% of workers work from home.
What is the unemployment rate in Loretto?
The unemployment rate in Loretto is 1.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Loretto?
45.4% of adults in Loretto 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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