Greenfield, MN
Population 2,897 · Minnesota
About Greenfield, MN
Greenfield is a small town located in Minnesota with a population of 2,897 residents according to the latest US Census Bureau American Community Survey data. The median household income is $147,184 per year, which is 96% above the national median of $75,149. The median age of 44.8 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 Greenfield features a median home value of $524,300, which is 114% above the national median of $244,900. This places Greenfield in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,083, 7% below the national average of $1,163/month. Of the 1,026 total housing units, 98% are owner-occupied (1,001 units) and 2% are renter-occupied (21 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Greenfield shows an unemployment rate of 0.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 1.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Greenfield have an average one-way commute time of 35.7 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
49.8% of Greenfield 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 0.0% White, 0.3% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 2.3% of the population being foreign-born.
How Greenfield Ranks in Minnesota
Cost of Living in Greenfield, MN
Compared to national averages, Greenfield has a median household income of $147,184 (96% above the national median of $75,149). Home values average $524,300, which is 114% above the national median. Monthly rent at $1,083 is 7% below the US average of $1,163. Within Minnesota, Greenfield's income is 98% above the state average of $74,221, and home values are 156% above the state median of $204,472.
Why Live in Greenfield, MN?
Greenfield offers a strong local economy with a median household income of $147,184, well above the national average, and rent that’s lower than the national average at $1,083/month, and a strong job market with an unemployment rate of just 0.3%. Additionally, the city features a well-educated community where 49.8% of residents hold a bachelor’s degree or higher, and a low poverty rate of 1.1%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $524,300. However, Greenfield’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Greenfield has a population of 2,897 with a median age of 44.8 years. Compare Greenfield with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Greenfield
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Mountain Iron | 2,865 | $81,607 | $180,700 | Compare |
| Dodge Center | 2,864 | $77,552 | $175,900 | Compare |
| Afton | 2,944 | $129,956 | $655,400 | Compare |
| Caledonia | 2,825 | $69,792 | $148,500 | Compare |
| Albany | 2,800 | $75,417 | $226,000 | Compare |
| Cokato | 2,780 | $71,090 | $216,100 | Compare |
| Milaca | 3,033 | $49,063 | $184,900 | Compare |
| Barnesville | 2,757 | $83,333 | $218,300 | 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 Greenfield With Other Cities
Frequently Asked Questions about Greenfield
What is the population of Greenfield, MN?
The population of Greenfield, MN is 2,897 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 Greenfield?
The median household income in Greenfield, MN is $147,184 per year, which is 96% above the national median of $75,149.
What is the median home value in Greenfield?
The median home value in Greenfield, MN is $524,300, which is 114% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Greenfield?
The median monthly rent in Greenfield, MN is $1,083, which is 7% below the national average of $1,163/month.
What is the unemployment rate in Greenfield?
The unemployment rate in Greenfield, MN is 0.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Greenfield, MN a good place to live?
Greenfield offers above-average incomes, a competitive housing market, and a strong job market. With a population of 2,897 and a median age of 44.8, the city appeals to a broad range of residents.
How educated is Greenfield, MN?
49.8% of residents in Greenfield 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 Greenfield?
Key cost-of-living indicators for Greenfield, MN: median home value is $524,300 (114% above national), median rent is $1,083/month, and median household income is $147,184. The home-value-to-income ratio is 3.6x, a moderate figure by national standards.
What is the poverty rate in Greenfield?
The poverty rate in Greenfield, MN is 1.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Greenfield, MN?
Greenfield's population is 0.0% White, 0.3% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 3.2% two or more races. 2.3% of residents are foreign-born.