Floodwood, MN
Population 482 · Minnesota
About Floodwood, MN
Floodwood is a small community located in Minnesota with a population of 482 residents according to the latest US Census Bureau American Community Survey data. The median household income is $40,972 per year, which is 45% below the national median of $75,149. The median age of 41.1 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Floodwood features a median home value of $100,000, which is 59% below the national median of $244,900. This makes Floodwood one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $667, 43% below the national average of $1,163/month. Of the 271 total housing units, 73% are owner-occupied (156 units) and 27% are renter-occupied (57 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Floodwood shows an unemployment rate of 6.2%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 24.7%, above the national average of 12.4%. Workers in Floodwood have an average one-way commute time of 36.6 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
6.7% of Floodwood 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, 3.1% Hispanic or Latino, 0.8% Black or African American, and 0.0% Asian residents, with 1.0% of the population being foreign-born.
Cost of Living in Floodwood, MN
Compared to national averages, Floodwood has a median household income of $40,972 (45% below the national median of $75,149). Home values average $100,000, which is 59% below the national median. Monthly rent at $667 is 43% below the US average of $1,163. Within Minnesota, Floodwood's income is 45% below the state average of $74,221, and home values are 51% below the state median of $204,472.
Why Live in Floodwood, MN?
Floodwood offers affordable housing with a median home value of $100,000, below the US average of $244,900, and rent that’s lower than the national average at $667/month.
Potential considerations include median household income ($40,972) that falls below the national average. However, Floodwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Floodwood has a population of 482 with a median age of 41.1 years. Compare Floodwood with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Floodwood
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| St. Marys Point | 484 | $106,250 | $471,400 | Compare |
| Verndale | 479 | $44,083 | $105,500 | Compare |
| Butterfield | 486 | $57,292 | $77,800 | Compare |
| Lafayette | 478 | $95,500 | $142,700 | Compare |
| Racine | 476 | $95,125 | $239,500 | Compare |
| Bertha | 489 | $54,821 | $77,900 | Compare |
| Danube | 489 | $62,014 | $137,500 | Compare |
| Fountain | 490 | $72,750 | $177,100 | 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 Floodwood With Other Cities
Frequently Asked Questions about Floodwood
What is the population of Floodwood, MN?
The population of Floodwood, MN is 482 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 Floodwood?
The median household income in Floodwood, MN is $40,972 per year, which is 45% below the national median of $75,149.
What is the median home value in Floodwood?
The median home value in Floodwood, MN is $100,000, which is 59% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Floodwood?
The median monthly rent in Floodwood, MN is $667, which is 43% below the national average of $1,163/month.
What is the unemployment rate in Floodwood?
The unemployment rate in Floodwood, MN is 6.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Floodwood, MN a good place to live?
Floodwood offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 482 and a median age of 41.1, the city appeals to a broad range of residents.
How educated is Floodwood, MN?
6.7% of residents in Floodwood 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 Floodwood?
Key cost-of-living indicators for Floodwood, MN: median home value is $100,000 (59% below national), median rent is $667/month, and median household income is $40,972. The home-value-to-income ratio is 2.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Floodwood?
The poverty rate in Floodwood, MN is 24.7%, 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 Floodwood, MN?
Floodwood's population is 0.0% White, 3.1% Hispanic or Latino, 0.8% Black or African American, 0.0% Asian, and 1.7% two or more races. 1.0% of residents are foreign-born.