Karlstad, MN
Population 622 · Minnesota
About Karlstad, MN
Karlstad is a small community located in Minnesota with a population of 622 residents according to the latest US Census Bureau American Community Survey data. The median household income is $61,324 per year, which is 18% below the national median of $75,149. The median age of 49.7 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 Karlstad features a median home value of $120,300, which is 51% below the national median of $244,900. This makes Karlstad one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $650, 44% below the national average of $1,163/month. Of the 350 total housing units, 70% are owner-occupied (188 units) and 30% are renter-occupied (82 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Karlstad shows an unemployment rate of 0.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 11.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Karlstad have an average one-way commute time of 25.2 minutes.
Education & Demographics
36.7% of Karlstad residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.0% White, 1.1% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.2% of the population being foreign-born.
How Karlstad Ranks in Minnesota
Cost of Living in Karlstad, MN
Compared to national averages, Karlstad has a median household income of $61,324 (18% below the national median of $75,149). Home values average $120,300, which is 51% below the national median. Monthly rent at $650 is 44% below the US average of $1,163. Within Minnesota, Karlstad's income is 17% below the state average of $74,221, and home values are 41% below the state median of $204,472.
Why Live in Karlstad, MN?
Karlstad offers affordable housing with a median home value of $120,300, below the US average of $244,900, and rent that’s lower than the national average at $650/month, and a strong job market with an unemployment rate of just 0.7%. Additionally, the city features a well-educated community where 36.7% of residents hold a bachelor’s degree or higher, and a low poverty rate of 11.8%, better than the national average.
Potential considerations include median household income ($61,324) that falls below the national average. However, Karlstad’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Karlstad has a population of 622 with a median age of 49.7 years. Compare Karlstad with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Karlstad
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Cleveland | 622 | $83,281 | $204,200 | 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 |
| Brownsville | 624 | $63,977 | $161,600 | Compare |
| Eagle Bend | 620 | $48,924 | $96,700 | Compare |
| Ellendale | 626 | $80,417 | $150,000 | Compare |
| Ivanhoe | 627 | $54,583 | $65,500 | 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 Karlstad With Other Cities
Frequently Asked Questions about Karlstad
What is the population of Karlstad, MN?
The population of Karlstad, MN is 622 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 Karlstad?
The median household income in Karlstad, MN is $61,324 per year, which is 18% below the national median of $75,149.
What is the median home value in Karlstad?
The median home value in Karlstad, MN is $120,300, which is 51% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Karlstad?
The median monthly rent in Karlstad, MN is $650, which is 44% below the national average of $1,163/month.
What is the unemployment rate in Karlstad?
The unemployment rate in Karlstad, MN is 0.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Karlstad, MN a good place to live?
Karlstad offers a moderate cost of living, affordable housing, and a strong job market. With a population of 622 and a median age of 49.7, the city appeals to established professionals and retirees.
How educated is Karlstad, MN?
36.7% of residents in Karlstad 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 Karlstad?
Key cost-of-living indicators for Karlstad, MN: median home value is $120,300 (51% below national), median rent is $650/month, and median household income is $61,324. The home-value-to-income ratio is 2.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Karlstad?
The poverty rate in Karlstad, MN is 11.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Karlstad, MN?
Karlstad's population is 0.0% White, 1.1% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.6% two or more races. 0.2% of residents are foreign-born.