Living in Preston, Minnesota
Cost of living, income, home prices, rent and demographics of Preston · Census data 2020–2024
Preston has 1,362 residents with a median age of 39.8. The median household income is $63,984 (28% lower than the Minnesota median), the median home value is $185,900, the median rent is $769/month.
Preston is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Preston at a glance
- Population
- 1,362
- Median age
- 39.8State: 38.8
- Median household income
- $63,984State: $89,062
- Median home value
- $185,900State: $329,300
- Median rent
- $769/moState: $1,280
- Homeowners
- 73.6%
- Bachelor's degree or higher
- 27%
- Average commute
- 24 min
Is Preston a good place to live?
Pros: Home values 44% lower than the state median; unemployment of 3.4%; a poverty rate of 8.9%.
Cons: Median household income 28% lower than the Minnesota median; an average commute of 24 minutes.
The weather is best in June to September.
Cost of living in Preston
Housing is the biggest part of the cost of living. In Preston the median home value is $185,900, 44% lower than the U.S. median. Renters pay a median of $769 per month, which is 25.2% of household income. Homeowners with a mortgage pay $1,296 a month in housing costs.
Preston median household income
The median household income in Preston is $63,984 and the income per person is $37,375. 8.9% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Preston: homes for sale and rent
- Housing units
- 651
- Owner-occupied
- 73.6%
- Renter-occupied
- 26.4%
- Vacant
- 7.4%Includes seasonal homes
- Median year built
- 1963
- Average household size
- 2.19
Preston demographics
- Population
- 1,362
- Median age
- 39.8
- Under 18
- 21.9%
- 65 and older
- 20.7%
- Households
- 603
- Foreign-born
- 0.3%
- Veterans
- 5.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Preston ›
Education in Preston
27% of adults 25 and older in Preston have a bachelor's degree or higher (Minnesota: 39.4%), and 8.3% have a graduate or professional degree.
Jobs and commute in Preston
- Unemployment rate
- 3.4%State: 4.1%
- Average commute
- 24 minState: 23 min
- Work from home
- 11.7%
- Drive alone
- 80.6%
- Public transit
- 0%
- Walk to work
- 3.3%
- Homes with broadband
- 87.7%
Preston vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Preston | 1,362 | $63,984 | $185,900 | $769 |
| Fountain | 493 | $78,750 | $185,300 | $630 |
| Lanesboro | 744 | $75,313 | $213,200 | $518 |
| Harmony | 1,024 | $68,125 | $170,100 | $742 |
| Wykoff | 377 | $65,446 | $143,400 | $823 |
| Canton | 398 | $53,056 | $93,200 | $610 |
| Chatfield | 2,559 | $96,078 | $241,600 | $748 |
| Peterson | 244 | $71,000 | $133,900 | $650 |
| Spring Valley | 2,307 | $66,339 | $160,800 | $915 |
More for people moving to Preston
Preston ZIP code ›Weather and climate ›Living in Preston: FAQ
What is the median household income in Preston, MN?
The median household income in Preston is $63,984, 28% 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 Preston?
The median home value in Preston is $185,900, compared with $329,300 in Minnesota.
How much is rent in Preston?
The median gross rent in Preston is $769 per month, about 25.2% of household income.
Is Preston, MN a good place to live?
Pluses: home values 44% lower than the state median; unemployment of 3.4%; a poverty rate of 8.9%. Minuses: median household income 28% lower than the Minnesota median; an average commute of 24 minutes.
What is the median age in Preston?
The median age in Preston is 39.8 years (Minnesota: 38.8).
How long is the commute in Preston?
The average commute to work in Preston is 24 minutes; 11.7% of workers work from home.
What is the unemployment rate in Preston?
The unemployment rate in Preston is 3.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Preston?
27% of adults in Preston 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: