Elgin, MN
Population 1,147 · Minnesota
About Elgin, MN
Elgin is a small town located in Minnesota with a population of 1,147 residents according to the latest US Census Bureau American Community Survey data. The median household income is $87,000 per year, which is 16% above the national median of $75,149. The median age of 31.8 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Elgin features a median home value of $218,200, which is 11% below the national median of $244,900. This positions Elgin in a moderately priced market relative to the rest of the country. Median monthly rent is $738, 37% below the national average of $1,163/month. Of the 481 total housing units, 78% are owner-occupied (325 units) and 22% are renter-occupied (93 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Elgin shows an unemployment rate of 4.7%, which is near the national rate of 3.7%. The poverty rate stands at 6.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Elgin have an average one-way commute time of 26.6 minutes.
Education & Demographics
23.5% of Elgin 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 5.8% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.3% of the population being foreign-born.
Cost of Living in Elgin, MN
Compared to national averages, Elgin has a median household income of $87,000 (16% above the national median of $75,149). Home values average $218,200, which is 11% below the national median. Monthly rent at $738 is 37% below the US average of $1,163. Within Minnesota, Elgin's income is 17% above the state average of $74,221, and home values are 7% above the state median of $204,472.
Why Live in Elgin, MN?
Elgin offers a strong local economy with a median household income of $87,000, well above the national average, and affordable housing with a median home value of $218,200, below the US average of $244,900, and rent that’s lower than the national average at $738/month. Additionally, the city features a low poverty rate of 6.5%, better than the national average.
Elgin has a population of 1,147 with a median age of 31.8 years. Compare Elgin with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Elgin
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Dellwood | 1,145 | $208,125 | $729,800 | Compare |
| Shafer | 1,151 | $96,042 | $225,700 | Compare |
| New London | 1,156 | $66,830 | $209,300 | Compare |
| Elbow Lake | 1,158 | $56,786 | $118,900 | Compare |
| Fairfax | 1,134 | $53,750 | $99,800 | Compare |
| East Gull Lake | 1,173 | $128,548 | $522,000 | Compare |
| Cottonwood | 1,120 | $90,750 | $180,200 | Compare |
| Redby | 1,175 | $53,846 | $109,500 | 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 Elgin With Other Cities
Frequently Asked Questions about Elgin
What is the population of Elgin, MN?
The population of Elgin, MN is 1,147 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 Elgin?
The median household income in Elgin, MN is $87,000 per year, which is 16% above the national median of $75,149.
What is the median home value in Elgin?
The median home value in Elgin, MN is $218,200, which is 11% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Elgin?
The median monthly rent in Elgin, MN is $738, which is 37% below the national average of $1,163/month.
What is the unemployment rate in Elgin?
The unemployment rate in Elgin, MN is 4.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Elgin, MN a good place to live?
Elgin offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 1,147 and a median age of 31.8, the city appeals to young professionals and families.
How educated is Elgin, MN?
23.5% of residents in Elgin 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 Elgin?
Key cost-of-living indicators for Elgin, MN: median home value is $218,200 (11% below national), median rent is $738/month, and median household income is $87,000. The home-value-to-income ratio is 2.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Elgin?
The poverty rate in Elgin, MN is 6.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Elgin, MN?
Elgin's population is 5.8% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.3% of residents are foreign-born.