Finland, MN
Population 220 · Minnesota
About Finland, MN
Finland is a small community located in Minnesota with a population of 220 residents according to the latest US Census Bureau American Community Survey data. The median household income is $51,875 per year, which is 31% below the national median of $75,149. The median age of 54.9 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 Finland features a median home value of $122,600, which is 50% below the national median of $244,900. This makes Finland one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $699, 40% below the national average of $1,163/month. Of the 177 total housing units, 73% are owner-occupied (105 units) and 27% are renter-occupied (39 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Finland shows an unemployment rate of 12.1%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 20.5%, above the national average of 12.4%. Workers in Finland have an average one-way commute time of 25.8 minutes.
Education & Demographics
10.7% of Finland 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 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.9% of the population being foreign-born.
Cost of Living in Finland, MN
Compared to national averages, Finland has a median household income of $51,875 (31% below the national median of $75,149). Home values average $122,600, which is 50% below the national median. Monthly rent at $699 is 40% below the US average of $1,163. Within Minnesota, Finland's income is 30% below the state average of $74,221, and home values are 40% below the state median of $204,472.
Why Live in Finland, MN?
Finland offers affordable housing with a median home value of $122,600, below the US average of $244,900, and rent that’s lower than the national average at $699/month.
Potential considerations include median household income ($51,875) that falls below the national average. However, Finland’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Finland has a population of 220 with a median age of 54.9 years. Compare Finland with other cities to see how it stacks up, or explore all cities in Minnesota.
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Cities in Minnesota with a similar population size.
Demographics
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Economy & Education
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Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Finland
What is the population of Finland, MN?
The population of Finland, MN is 220 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Minnesota.
What is the median household income in Finland?
The median household income in Finland, MN is $51,875 per year, which is 31% below the national median of $75,149.
What is the median home value in Finland?
The median home value in Finland, MN is $122,600, which is 50% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Finland?
The median monthly rent in Finland, MN is $699, which is 40% below the national average of $1,163/month.
What is the unemployment rate in Finland?
The unemployment rate in Finland, MN is 12.1%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Finland, MN a good place to live?
Finland offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 220 and a median age of 54.9, the city appeals to established professionals and retirees.
How educated is Finland, MN?
10.7% of residents in Finland 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 Finland?
Key cost-of-living indicators for Finland, MN: median home value is $122,600 (50% below national), median rent is $699/month, and median household income is $51,875. The home-value-to-income ratio is 2.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Finland?
The poverty rate in Finland, MN is 20.5%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Finland, MN?
Finland's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.9% of residents are foreign-born.