Living in Paynesville, Minnesota
Cost of living, income, home prices, rent and demographics of Paynesville · Census data 2020–2024
Paynesville has 2,519 residents with a median age of 36.1. The median household income is $75,250 (16% lower than the Minnesota median), the median home value is $178,200, the median rent is $815/month.
Paynesville at a glance
- Population
- 2,519
- Median age
- 36.1State: 38.8
- Median household income
- $75,250State: $89,062
- Median home value
- $178,200State: $329,300
- Median rent
- $815/moState: $1,280
- Homeowners
- 68.6%
- Bachelor's degree or higher
- 27.2%
- Average commute
- 22 min
Is Paynesville a good place to live?
Pros: Home values 46% lower than the state median; an average commute of 22 minutes; unemployment of 2.4%; a poverty rate of 5.6%.
Cons: Median household income 16% lower than the Minnesota median.
The weather is best in June to September.
Cost of living in Paynesville
Housing is the biggest part of the cost of living. In Paynesville the median home value is $178,200, 46% lower than the U.S. median. Renters pay a median of $815 per month, which is 25.7% of household income. Homeowners with a mortgage pay $1,303 a month in housing costs.
Paynesville median household income
The median household income in Paynesville is $75,250 and the income per person is $34,748. 5.6% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Paynesville: homes for sale and rent
- Housing units
- 1,248
- Owner-occupied
- 68.6%
- Renter-occupied
- 31.4%
- Vacant
- 10.8%Includes seasonal homes
- Median year built
- 1972
- Average household size
- 2.22
Paynesville demographics
- Population
- 2,519
- Median age
- 36.1
- Under 18
- 22%
- 65 and older
- 27.1%
- Households
- 1,113
- Foreign-born
- 1.5%
- Veterans
- 9.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Paynesville ›
Education in Paynesville
27.2% of adults 25 and older in Paynesville have a bachelor's degree or higher (Minnesota: 39.4%), and 7.5% have a graduate or professional degree.
Jobs and commute in Paynesville
- Unemployment rate
- 2.4%State: 4.1%
- Average commute
- 22 minState: 23 min
- Work from home
- 6.5%
- Drive alone
- 82.2%
- Public transit
- 0.1%
- Walk to work
- 5.6%
- Homes with broadband
- 91.6%
Paynesville vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Paynesville | 2,519 | $75,250 | $178,200 | $815 |
| St. Martin | 313 | $59,219 | $216,900 | $425 |
| Eden Valley | 1,002 | $67,917 | $161,300 | $922 |
| Richmond | 1,431 | $71,438 | $241,300 | $648 |
| New London | 1,187 | $68,421 | $218,800 | $946 |
| Belgrade | 758 | $51,103 | $163,400 | $756 |
| Spicer | 1,222 | $77,969 | $294,700 | $859 |
| Cold Spring | 4,249 | $72,228 | $280,400 | $1,424 |
| Watkins | 765 | $64,896 | $149,100 | $808 |
More for people moving to Paynesville
Paynesville ZIP code ›Weather and climate ›Living in Paynesville: FAQ
What is the median household income in Paynesville, MN?
The median household income in Paynesville is $75,250, 16% 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 Paynesville?
The median home value in Paynesville is $178,200, compared with $329,300 in Minnesota.
How much is rent in Paynesville?
The median gross rent in Paynesville is $815 per month, about 25.7% of household income.
Is Paynesville, MN a good place to live?
Pluses: home values 46% lower than the state median; an average commute of 22 minutes; unemployment of 2.4%; a poverty rate of 5.6%. Minuses: median household income 16% lower than the Minnesota median.
What is the median age in Paynesville?
The median age in Paynesville is 36.1 years (Minnesota: 38.8).
How long is the commute in Paynesville?
The average commute to work in Paynesville is 22 minutes; 6.5% of workers work from home.
What is the unemployment rate in Paynesville?
The unemployment rate in Paynesville is 2.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Paynesville?
27.2% of adults in Paynesville 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: