Ivanhoe, MN
Population 627 · Minnesota
About Ivanhoe, MN
Ivanhoe is a small community located in Minnesota with a population of 627 residents according to the latest US Census Bureau American Community Survey data. The median household income is $54,583 per year, which is 27% below the national median of $75,149. The median age of 42.8 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 Ivanhoe features a median home value of $65,500, which is 73% below the national median of $244,900. This makes Ivanhoe one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $550, 53% below the national average of $1,163/month. Of the 344 total housing units, 80% are owner-occupied (241 units) and 20% are renter-occupied (60 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Ivanhoe shows an unemployment rate of 9.5%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 10.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Ivanhoe have an average one-way commute time of 19.1 minutes, one of the shorter commutes in the region.
Education & Demographics
19.4% of Ivanhoe 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 2.4% White, 3.2% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.8% of the population being foreign-born.
How Ivanhoe Ranks in Minnesota
Cost of Living in Ivanhoe, MN
Compared to national averages, Ivanhoe has a median household income of $54,583 (27% below the national median of $75,149). Home values average $65,500, which is 73% below the national median. Monthly rent at $550 is 53% below the US average of $1,163. Within Minnesota, Ivanhoe's income is 26% below the state average of $74,221, and home values are 68% below the state median of $204,472.
Why Live in Ivanhoe, MN?
Ivanhoe offers affordable housing with a median home value of $65,500, below the US average of $244,900, and rent that’s lower than the national average at $550/month, and a low poverty rate of 10.5%, better than the national average. Additionally, the city features short commute times averaging just 19.1 minutes.
Potential considerations include median household income ($54,583) that falls below the national average. However, Ivanhoe’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Ivanhoe has a population of 627 with a median age of 42.8 years. Compare Ivanhoe with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Ivanhoe
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Ellendale | 626 | $80,417 | $150,000 | Compare |
| Brownsville | 624 | $63,977 | $161,600 | Compare |
| Evansville | 631 | $39,063 | $145,000 | Compare |
| Cleveland | 622 | $83,281 | $204,200 | Compare |
| Karlstad | 622 | $61,324 | $120,300 | Compare |
| Clear Lake | 621 | $105,000 | $255,800 | Compare |
| La Prairie | 621 | $75,192 | $202,300 | Compare |
| Minnesota Lake | 621 | $62,875 | $126,600 | 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 Ivanhoe With Other Cities
Frequently Asked Questions about Ivanhoe
What is the population of Ivanhoe, MN?
The population of Ivanhoe, MN is 627 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 Ivanhoe?
The median household income in Ivanhoe, MN is $54,583 per year, which is 27% below the national median of $75,149.
What is the median home value in Ivanhoe?
The median home value in Ivanhoe, MN is $65,500, which is 73% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Ivanhoe?
The median monthly rent in Ivanhoe, MN is $550, which is 53% below the national average of $1,163/month.
What is the unemployment rate in Ivanhoe?
The unemployment rate in Ivanhoe, MN is 9.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Ivanhoe, MN a good place to live?
Ivanhoe offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 627 and a median age of 42.8, the city appeals to a broad range of residents.
How educated is Ivanhoe, MN?
19.4% of residents in Ivanhoe 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 Ivanhoe?
Key cost-of-living indicators for Ivanhoe, MN: median home value is $65,500 (73% below national), median rent is $550/month, and median household income is $54,583. The home-value-to-income ratio is 1.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Ivanhoe?
The poverty rate in Ivanhoe, MN is 10.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Ivanhoe, MN?
Ivanhoe's population is 2.4% White, 3.2% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.2% two or more races. 0.8% of residents are foreign-born.