Falcon Heights, MN
Population 5,145 · Minnesota
About Falcon Heights, MN
Falcon Heights is a small town located in Minnesota with a population of 5,145 residents according to the latest US Census Bureau American Community Survey data. The median household income is $93,233 per year, which is 24% above the national median of $75,149. The median age of 35.8 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 Falcon Heights features a median home value of $366,800, which is 50% above the national median of $244,900. This positions Falcon Heights in a moderately priced market relative to the rest of the country. Median monthly rent is $1,200, 3% above the national average of $1,163/month. Of the 2,148 total housing units, 59% are owner-occupied (1,205 units) and 41% are renter-occupied (836 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Falcon Heights shows an unemployment rate of 5.3%, which is near the national rate of 3.7%. The poverty rate stands at 7.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Falcon Heights have an average one-way commute time of 22.9 minutes.
Education & Demographics
74.0% of Falcon Heights residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.9% White, 1.3% Hispanic or Latino, 0.1% Black or African American, and 1.3% Asian residents, with 17.6% of the population being foreign-born.
How Falcon Heights Ranks in Minnesota
Cost of Living in Falcon Heights, MN
Compared to national averages, Falcon Heights has a median household income of $93,233 (24% above the national median of $75,149). Home values average $366,800, which is 50% above the national median. Monthly rent at $1,200 is 3% above the US average of $1,163. Within Minnesota, Falcon Heights's income is 26% above the state average of $74,221, and home values are 79% above the state median of $204,472.
Why Live in Falcon Heights, MN?
Falcon Heights offers a strong local economy with a median household income of $93,233, well above the national average, and a well-educated community where 74.0% of residents hold a bachelor’s degree or higher, and a low poverty rate of 7.8%, better than the national average. Additionally, the city features short commute times averaging just 22.9 minutes.
Falcon Heights has a population of 5,145 with a median age of 35.8 years. Compare Falcon Heights with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Falcon Heights
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| North Oaks | 5,175 | $235,858 | $756,300 | Compare |
| Morris | 5,092 | $63,807 | $185,200 | Compare |
| Redwood Falls | 5,075 | $61,947 | $162,000 | Compare |
| La Crescent | 5,266 | $82,109 | $244,500 | Compare |
| Lake City | 5,021 | $76,125 | $234,100 | Compare |
| Princeton | 4,988 | $52,450 | $212,200 | Compare |
| Montevideo | 5,303 | $65,724 | $137,600 | Compare |
| Circle Pines | 4,980 | $96,477 | $277,300 | 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 Falcon Heights With Other Cities
Frequently Asked Questions about Falcon Heights
What is the population of Falcon Heights, MN?
The population of Falcon Heights, MN is 5,145 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 Falcon Heights?
The median household income in Falcon Heights, MN is $93,233 per year, which is 24% above the national median of $75,149.
What is the median home value in Falcon Heights?
The median home value in Falcon Heights, MN is $366,800, which is 50% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Falcon Heights?
The median monthly rent in Falcon Heights, MN is $1,200, which is 3% above the national average of $1,163/month.
What is the unemployment rate in Falcon Heights?
The unemployment rate in Falcon Heights, MN is 5.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Falcon Heights, MN a good place to live?
Falcon Heights offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 5,145 and a median age of 35.8, the city appeals to a broad range of residents.
How educated is Falcon Heights, MN?
74.0% of residents in Falcon Heights aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Falcon Heights?
Key cost-of-living indicators for Falcon Heights, MN: median home value is $366,800 (50% above national), median rent is $1,200/month, and median household income is $93,233. The home-value-to-income ratio is 3.9x, a moderate figure by national standards.
What is the poverty rate in Falcon Heights?
The poverty rate in Falcon Heights, MN is 7.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Falcon Heights, MN?
Falcon Heights's population is 0.9% White, 1.3% Hispanic or Latino, 0.1% Black or African American, 1.3% Asian, and 6.7% two or more races. 17.6% of residents are foreign-born.