Living in Waterville, Minnesota
Cost of living, income, home prices, rent and demographics of Waterville · Census data 2020–2024
Waterville has 1,947 residents with a median age of 43.8. The median household income is $76,406 (14% lower than the Minnesota median), the median home value is $236,000, the median rent is $884/month.
Waterville at a glance
- Population
- 1,947
- Median age
- 43.8State: 38.8
- Median household income
- $76,406State: $89,062
- Median home value
- $236,000State: $329,300
- Median rent
- $884/moState: $1,280
- Homeowners
- 76.3%
- Bachelor's degree or higher
- 19%
- Average commute
- 24 min
Is Waterville a good place to live?
Pros: Home values 28% lower than the state median.
Cons: Median household income 14% lower than the Minnesota median; an average commute of 24 minutes; unemployment of 7.3%; a poverty rate of 12%.
The weather is best in June to September.
Cost of living in Waterville
Housing is the biggest part of the cost of living. In Waterville the median home value is $236,000, 29% lower than the U.S. median. Renters pay a median of $884 per month, which is 27.2% of household income. Homeowners with a mortgage pay $1,730 a month in housing costs.
Waterville median household income
The median household income in Waterville is $76,406 and the income per person is $36,218. 12% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Waterville: homes for sale and rent
- Housing units
- 1,050
- Owner-occupied
- 76.3%
- Renter-occupied
- 23.7%
- Vacant
- 15.3%Includes seasonal homes
- Median year built
- 1968
- Average household size
- 2.16
Waterville demographics
- Population
- 1,947
- Median age
- 43.8
- Under 18
- 18%
- 65 and older
- 21.7%
- Households
- 889
- Foreign-born
- 0.7%
- Veterans
- 5.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Waterville ›
Education in Waterville
19% of adults 25 and older in Waterville have a bachelor's degree or higher (Minnesota: 39.4%), and 6.1% have a graduate or professional degree.
Jobs and commute in Waterville
- Unemployment rate
- 7.3%State: 4.1%
- Average commute
- 24 minState: 23 min
- Work from home
- 3.2%
- Drive alone
- 83.2%
- Public transit
- 0%
- Walk to work
- 3.7%
- Homes with broadband
- 91%
Waterville vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Waterville | 1,947 | $76,406 | $236,000 | $884 |
| Elysian | 676 | $89,632 | $285,400 | $1,088 |
| Morristown | 1,265 | $83,059 | $184,800 | $1,018 |
| Kilkenny | 125 | $48,750 | $158,600 | — |
| Janesville | 2,378 | $74,643 | $206,800 | $873 |
| Warsaw | 560 | $93,750 | $301,500 | $825 |
| Waseca | 9,164 | $64,074 | $189,200 | $903 |
| Madison Lake | 1,322 | $87,727 | $303,100 | $596 |
| Le Center | 2,513 | $80,673 | $209,600 | $889 |
More for people moving to Waterville
Waterville ZIP code ›Weather and climate ›Living in Waterville: FAQ
What is the median household income in Waterville, MN?
The median household income in Waterville is $76,406, 14% 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 Waterville?
The median home value in Waterville is $236,000, compared with $329,300 in Minnesota.
How much is rent in Waterville?
The median gross rent in Waterville is $884 per month, about 27.2% of household income.
Is Waterville, MN a good place to live?
Pluses: home values 28% lower than the state median. Minuses: median household income 14% lower than the Minnesota median; an average commute of 24 minutes; unemployment of 7.3%; a poverty rate of 12%.
What is the median age in Waterville?
The median age in Waterville is 43.8 years (Minnesota: 38.8).
How long is the commute in Waterville?
The average commute to work in Waterville is 24 minutes; 3.2% of workers work from home.
What is the unemployment rate in Waterville?
The unemployment rate in Waterville is 7.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Waterville?
19% of adults in Waterville 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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