Cannon Falls, MN
Population 4,216 · Minnesota
About Cannon Falls, MN
Cannon Falls is a small town located in Minnesota with a population of 4,216 residents according to the latest US Census Bureau American Community Survey data. The median household income is $80,515 per year, which is 7% above the national median of $75,149. The median age of 45.3 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Cannon Falls features a median home value of $262,100, which is 7% above the national median of $244,900. This positions Cannon Falls in a moderately priced market relative to the rest of the country. Median monthly rent is $983, 15% below the national average of $1,163/month. Of the 2,037 total housing units, 75% are owner-occupied (1,391 units) and 25% are renter-occupied (468 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Cannon Falls shows an unemployment rate of 0.6%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 5.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Cannon Falls have an average one-way commute time of 28.5 minutes.
Education & Demographics
21.9% of Cannon Falls residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.2% White, 1.3% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.3% of the population being foreign-born.
How Cannon Falls Ranks in Minnesota
Cost of Living in Cannon Falls, MN
Compared to national averages, Cannon Falls has a median household income of $80,515 (7% above the national median of $75,149). Home values average $262,100, which is 7% above the national median. Monthly rent at $983 is 15% below the US average of $1,163. Within Minnesota, Cannon Falls's income is 8% above the state average of $74,221, and home values are 28% above the state median of $204,472.
Why Live in Cannon Falls, MN?
Cannon Falls offers a strong local economy with a median household income of $80,515, well above the national average, and rent that’s lower than the national average at $983/month, and a strong job market with an unemployment rate of just 0.6%. Additionally, the city features a low poverty rate of 5.8%, better than the national average.
Cannon Falls has a population of 4,216 with a median age of 45.3 years. Compare Cannon Falls with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Cannon Falls
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Columbus | 4,211 | $117,917 | $439,200 | Compare |
| Park Rapids | 4,226 | $45,800 | $218,500 | Compare |
| Le Sueur | 4,204 | $71,563 | $216,700 | Compare |
| Cold Spring | 4,201 | $72,022 | $242,000 | Compare |
| Pipestone | 4,165 | $61,442 | $102,000 | Compare |
| Rice Lake | 4,120 | $95,347 | $283,700 | Compare |
| Goodview | 4,104 | $75,375 | $215,200 | Compare |
| Wadena | 4,361 | $45,850 | $158,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Cannon Falls With Other Cities
Frequently Asked Questions about Cannon Falls
What is the population of Cannon Falls, MN?
The population of Cannon Falls, MN is 4,216 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Minnesota.
What is the median household income in Cannon Falls?
The median household income in Cannon Falls, MN is $80,515 per year, which is 7% above the national median of $75,149.
What is the median home value in Cannon Falls?
The median home value in Cannon Falls, MN is $262,100, which is 7% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Cannon Falls?
The median monthly rent in Cannon Falls, MN is $983, which is 15% below the national average of $1,163/month.
What is the unemployment rate in Cannon Falls?
The unemployment rate in Cannon Falls, MN is 0.6%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Cannon Falls, MN a good place to live?
Cannon Falls offers above-average incomes, a competitive housing market, and a strong job market. With a population of 4,216 and a median age of 45.3, the city appeals to established professionals and retirees.
How educated is Cannon Falls, MN?
21.9% of residents in Cannon Falls aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Cannon Falls?
Key cost-of-living indicators for Cannon Falls, MN: median home value is $262,100 (7% above national), median rent is $983/month, and median household income is $80,515. The home-value-to-income ratio is 3.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Cannon Falls?
The poverty rate in Cannon Falls, MN is 5.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Cannon Falls, MN?
Cannon Falls's population is 0.2% White, 1.3% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.4% two or more races. 0.3% of residents are foreign-born.