Living in Peterson, Minnesota
Cost of living, income, home prices, rent and demographics of Peterson · Census data 2020–2024
Peterson has 244 residents with a median age of 29.8. The median household income is $71,000 (20% lower than the Minnesota median), the median home value is $133,900, the median rent is $650/month.
Peterson is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Peterson at a glance
- Population
- 244
- Median age
- 29.8State: 38.8
- Median household income
- $71,000State: $89,062
- Median home value
- $133,900State: $329,300
- Median rent
- $650/moState: $1,280
- Homeowners
- 90.2%
- Bachelor's degree or higher
- 13.5%
- Average commute
- 32 min
Is Peterson a good place to live?
Pros: Home values 59% lower than the state median; unemployment of 0.8%.
Cons: Median household income 20% lower than the Minnesota median; an average commute of 32 minutes; a poverty rate of 13.9%.
The weather is best in June to September.
Cost of living in Peterson
Housing is the biggest part of the cost of living. In Peterson the median home value is $133,900, 60% lower than the U.S. median. Renters pay a median of $650 per month, which is 23.3% of household income. Homeowners with a mortgage pay $1,234 a month in housing costs.
Peterson median household income
The median household income in Peterson is $71,000 and the income per person is $32,119. 13.9% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Peterson: homes for sale and rent
- Housing units
- 101
- Owner-occupied
- 90.2%
- Renter-occupied
- 9.8%
- Vacant
- 8.9%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.65
Peterson demographics
- Population
- 244
- Median age
- 29.8
- Under 18
- 27%
- 65 and older
- 20.9%
- Households
- 92
- Foreign-born
- 0.8%
- Veterans
- 9.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Peterson ›
Education in Peterson
13.5% of adults 25 and older in Peterson have a bachelor's degree or higher (Minnesota: 39.4%), and 7.8% have a graduate or professional degree.
Jobs and commute in Peterson
- Unemployment rate
- 0.8%State: 4.1%
- Average commute
- 32 minState: 23 min
- Work from home
- 4.9%
- Drive alone
- 69.1%
- Public transit
- 0%
- Walk to work
- 1.6%
- Homes with broadband
- 84.8%
Peterson vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Peterson | 244 | $71,000 | $133,900 | $650 |
| Rushford Village | 809 | $106,719 | $279,500 | $950 |
| Rushford | 1,826 | $76,638 | $214,800 | $857 |
| Lanesboro | 744 | $75,313 | $213,200 | $518 |
| Houston | 982 | $55,759 | $180,100 | $928 |
| Lewiston | 1,613 | $91,875 | $213,600 | $929 |
| Utica | 216 | $73,125 | $188,400 | $1,333 |
| Preston | 1,362 | $63,984 | $185,900 | $769 |
| Fountain | 493 | $78,750 | $185,300 | $630 |
More for people moving to Peterson
Peterson ZIP code ›Weather and climate ›Living in Peterson: FAQ
What is the median household income in Peterson, MN?
The median household income in Peterson is $71,000, 20% 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 Peterson?
The median home value in Peterson is $133,900, compared with $329,300 in Minnesota.
How much is rent in Peterson?
The median gross rent in Peterson is $650 per month, about 23.3% of household income.
Is Peterson, MN a good place to live?
Pluses: home values 59% lower than the state median; unemployment of 0.8%. Minuses: median household income 20% lower than the Minnesota median; an average commute of 32 minutes; a poverty rate of 13.9%.
What is the median age in Peterson?
The median age in Peterson is 29.8 years (Minnesota: 38.8).
How long is the commute in Peterson?
The average commute to work in Peterson is 32 minutes; 4.9% of workers work from home.
What is the unemployment rate in Peterson?
The unemployment rate in Peterson is 0.8% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Peterson?
13.5% of adults in Peterson 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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