Loretto, MN
Population 805 · Minnesota
About Loretto, MN
Loretto is a small community located in Minnesota with a population of 805 residents according to the latest US Census Bureau American Community Survey data. The median household income is $110,833 per year, which is 47% above the national median of $75,149. The median age of 35.6 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Loretto features a median home value of $350,600, which is 43% above the national median of $244,900. This positions Loretto in a moderately priced market relative to the rest of the country. Median monthly rent is $888, 24% below the national average of $1,163/month. Of the 290 total housing units, 83% are owner-occupied (235 units) and 17% are renter-occupied (49 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Loretto shows an unemployment rate of 1.4%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 8.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Loretto have an average one-way commute time of 29.8 minutes.
Education & Demographics
47.6% of Loretto 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, 0.0% Hispanic or Latino, 0.0% Black or African American, and 1.4% Asian residents, with 4.0% of the population being foreign-born.
Cost of Living in Loretto, MN
Compared to national averages, Loretto has a median household income of $110,833 (47% above the national median of $75,149). Home values average $350,600, which is 43% above the national median. Monthly rent at $888 is 24% below the US average of $1,163. Within Minnesota, Loretto's income is 49% above the state average of $74,221, and home values are 71% above the state median of $204,472.
Why Live in Loretto, MN?
Loretto offers a strong local economy with a median household income of $110,833, well above the national average, and rent that’s lower than the national average at $888/month, and a strong job market with an unemployment rate of just 1.4%. Additionally, the city features a well-educated community where 47.6% of residents hold a bachelor’s degree or higher, and a low poverty rate of 8.7%, better than the national average.
Loretto has a population of 805 with a median age of 35.6 years. Compare Loretto with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Loretto
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lanesboro | 804 | $80,000 | $186,900 | Compare |
| Landfall | 802 | $39,938 | $26,300 | Compare |
| Watkins | 797 | $50,875 | $136,800 | Compare |
| Battle Lake | 794 | $58,125 | $221,000 | Compare |
| Hancock | 816 | $69,712 | $79,600 | Compare |
| Le Roy | 790 | $51,250 | $106,400 | Compare |
| St. Clair | 785 | $101,375 | $200,800 | Compare |
| Kerkhoven | 826 | $73,750 | $155,600 | 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 Loretto With Other Cities
Frequently Asked Questions about Loretto
What is the population of Loretto, MN?
The population of Loretto, MN is 805 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 Loretto?
The median household income in Loretto, MN is $110,833 per year, which is 47% above the national median of $75,149.
What is the median home value in Loretto?
The median home value in Loretto, MN is $350,600, which is 43% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Loretto?
The median monthly rent in Loretto, MN is $888, which is 24% below the national average of $1,163/month.
What is the unemployment rate in Loretto?
The unemployment rate in Loretto, MN is 1.4%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Loretto, MN a good place to live?
Loretto offers above-average incomes, a competitive housing market, and a strong job market. With a population of 805 and a median age of 35.6, the city appeals to a broad range of residents.
How educated is Loretto, MN?
47.6% of residents in Loretto 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 Loretto?
Key cost-of-living indicators for Loretto, MN: median home value is $350,600 (43% above national), median rent is $888/month, and median household income is $110,833. The home-value-to-income ratio is 3.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Loretto?
The poverty rate in Loretto, MN is 8.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Loretto, MN?
Loretto's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 1.4% Asian, and 5.0% two or more races. 4.0% of residents are foreign-born.