Living in Tower, Minnesota
Cost of living, income, home prices, rent and demographics of Tower · Census data 2020–2024
Tower has 367 residents with a median age of 55.4. The median household income is $65,893 (26% lower than the Minnesota median), the median home value is $109,600, the median rent is $586/month.
Tower is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Tower at a glance
- Population
- 367
- Median age
- 55.4State: 38.8
- Median household income
- $65,893State: $89,062
- Median home value
- $109,600State: $329,300
- Median rent
- $586/moState: $1,280
- Homeowners
- 83.4%
- Bachelor's degree or higher
- 12.6%
- Average commute
- 27 min
Is Tower a good place to live?
Pros: Home values 67% lower than the state median.
Cons: Median household income 26% lower than the Minnesota median; an average commute of 27 minutes; unemployment of 5.9%; a poverty rate of 9.8%.
The weather is best in June to September.
Cost of living in Tower
Housing is the biggest part of the cost of living. In Tower the median home value is $109,600, 67% lower than the U.S. median. Renters pay a median of $586 per month, which is 16% of household income. Homeowners with a mortgage pay $1,181 a month in housing costs.
Tower median household income
The median household income in Tower is $65,893 and the income per person is $34,860. 9.8% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Tower: homes for sale and rent
- Housing units
- 250
- Owner-occupied
- 83.4%
- Renter-occupied
- 16.6%
- Vacant
- 32.4%Includes seasonal homes
- Median year built
- 1957
- Average household size
- 2.11
32.4% of homes are vacant most of the year, a sign that Tower has many vacation and second homes.
Tower demographics
- Population
- 367
- Median age
- 55.4
- Under 18
- 14.4%
- 65 and older
- 28.6%
- Households
- 169
- Foreign-born
- 0%
- Veterans
- 4.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Tower ›
Education in Tower
12.6% of adults 25 and older in Tower have a bachelor's degree or higher (Minnesota: 39.4%), and 5.2% have a graduate or professional degree.
Jobs and commute in Tower
- Unemployment rate
- 5.9%State: 4.1%
- Average commute
- 27 minState: 23 min
- Work from home
- 12.6%
- Drive alone
- 79.4%
- Public transit
- 1.7%
- Walk to work
- 1.7%
- Homes with broadband
- 87.6%
Tower vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Tower | 367 | $65,893 | $109,600 | $586 |
| Soudan | 415 | $56,307 | $110,100 | $588 |
| Hoyt Lakes | 2,064 | $65,764 | $93,300 | $1,550 |
| Cook | 423 | $42,250 | $104,900 | $535 |
| Biwabik | 966 | $67,917 | $111,200 | $749 |
| Aurora | 1,792 | $42,083 | $97,600 | $509 |
| Babbitt | 1,393 | $55,875 | $102,300 | $737 |
| Ely | 3,240 | $43,901 | $157,300 | $627 |
| Virginia | 8,332 | $51,720 | $120,600 | $792 |
More for people moving to Tower
Tower ZIP code ›Weather and climate ›Living in Tower: FAQ
What is the median household income in Tower, MN?
The median household income in Tower is $65,893, 26% 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 Tower?
The median home value in Tower is $109,600, compared with $329,300 in Minnesota.
How much is rent in Tower?
The median gross rent in Tower is $586 per month, about 16% of household income.
Is Tower, MN a good place to live?
Pluses: home values 67% lower than the state median. Minuses: median household income 26% lower than the Minnesota median; an average commute of 27 minutes; unemployment of 5.9%; a poverty rate of 9.8%.
What is the median age in Tower?
The median age in Tower is 55.4 years (Minnesota: 38.8).
How long is the commute in Tower?
The average commute to work in Tower is 27 minutes; 12.6% of workers work from home.
What is the unemployment rate in Tower?
The unemployment rate in Tower is 5.9% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Tower?
12.6% of adults in Tower 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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