Living in Redwood Falls, Minnesota
Cost of living, income, home prices, rent and demographics of Redwood Falls · Census data 2020–2024
Redwood Falls has 5,068 residents with a median age of 43.2. The median household income is $61,750 (31% lower than the Minnesota median), the median home value is $162,100, the median rent is $832/month.
Redwood Falls at a glance
- Population
- 5,068
- Median age
- 43.2State: 38.8
- Median household income
- $61,750State: $89,062
- Median home value
- $162,100State: $329,300
- Median rent
- $832/moState: $1,280
- Homeowners
- 68.3%
- Bachelor's degree or higher
- 24.3%
- Average commute
- 14 min
Is Redwood Falls a good place to live?
Pros: Home values 51% lower than the state median; an average commute of 14 minutes; unemployment of 3.3%.
Cons: Median household income 31% lower than the Minnesota median; a poverty rate of 17.2%.
The weather is best in June to September.
Cost of living in Redwood Falls
Housing is the biggest part of the cost of living. In Redwood Falls the median home value is $162,100, 51% lower than the U.S. median. Renters pay a median of $832 per month, which is 27.6% of household income. Homeowners with a mortgage pay $1,292 a month in housing costs.
Redwood Falls median household income
The median household income in Redwood Falls is $61,750 and the income per person is $32,604. 17.2% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Redwood Falls: homes for sale and rent
- Housing units
- 2,500
- Owner-occupied
- 68.3%
- Renter-occupied
- 31.7%
- Vacant
- 12.1%Includes seasonal homes
- Median year built
- 1973
- Average household size
- 2.22
Redwood Falls demographics
- Population
- 5,068
- Median age
- 43.2
- Under 18
- 22.3%
- 65 and older
- 24.4%
- Households
- 2,197
- Foreign-born
- 0.9%
- Veterans
- 4.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Redwood Falls ›
Education in Redwood Falls
24.3% of adults 25 and older in Redwood Falls have a bachelor's degree or higher (Minnesota: 39.4%), and 8.1% have a graduate or professional degree.
Jobs and commute in Redwood Falls
- Unemployment rate
- 3.3%State: 4.1%
- Average commute
- 14 minState: 23 min
- Work from home
- 5%
- Drive alone
- 84.5%
- Public transit
- 2.1%
- Walk to work
- 3.8%
- Homes with broadband
- 90.7%
Redwood Falls vs nearby towns
More for people moving to Redwood Falls
Redwood Falls ZIP code ›Weather and climate ›Living in Redwood Falls: FAQ
What is the median household income in Redwood Falls, MN?
The median household income in Redwood Falls is $61,750, 31% 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 Redwood Falls?
The median home value in Redwood Falls is $162,100, compared with $329,300 in Minnesota.
How much is rent in Redwood Falls?
The median gross rent in Redwood Falls is $832 per month, about 27.6% of household income.
Is Redwood Falls, MN a good place to live?
Pluses: home values 51% lower than the state median; an average commute of 14 minutes; unemployment of 3.3%. Minuses: median household income 31% lower than the Minnesota median; a poverty rate of 17.2%.
What is the median age in Redwood Falls?
The median age in Redwood Falls is 43.2 years (Minnesota: 38.8).
How long is the commute in Redwood Falls?
The average commute to work in Redwood Falls is 14 minutes; 5% of workers work from home.
What is the unemployment rate in Redwood Falls?
The unemployment rate in Redwood Falls is 3.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Redwood Falls?
24.3% of adults in Redwood Falls 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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