Montevideo, MN
Population 5,303 · Minnesota
About Montevideo, MN
Montevideo is a small town located in Minnesota with a population of 5,303 residents according to the latest US Census Bureau American Community Survey data. The median household income is $65,724 per year, which is 13% below the national median of $75,149. The median age of 42 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 Montevideo features a median home value of $137,600, which is 44% below the national median of $244,900. This makes Montevideo one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $832, 28% below the national average of $1,163/month. Of the 2,478 total housing units, 63% are owner-occupied (1,448 units) and 37% are renter-occupied (843 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Montevideo shows an unemployment rate of 2.4%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 19.3%, above the national average of 12.4%. Workers in Montevideo have an average one-way commute time of 18.3 minutes, one of the shorter commutes in the region.
Education & Demographics
19.7% of Montevideo 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 3.3% White, 1.1% Hispanic or Latino, 0.0% Black or African American, and 10.5% Asian residents, with 8.2% of the population being foreign-born.
Cost of Living in Montevideo, MN
Compared to national averages, Montevideo has a median household income of $65,724 (13% below the national median of $75,149). Home values average $137,600, which is 44% below the national median. Monthly rent at $832 is 28% below the US average of $1,163. Within Minnesota, Montevideo's income is 11% below the state average of $74,221, and home values are 33% below the state median of $204,472.
Why Live in Montevideo, MN?
Montevideo offers affordable housing with a median home value of $137,600, below the US average of $244,900, and rent that’s lower than the national average at $832/month, and a strong job market with an unemployment rate of just 2.4%. Additionally, the city features short commute times averaging just 18.3 minutes.
Potential considerations include median household income ($65,724) that falls below the national average. However, Montevideo’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Montevideo has a population of 5,303 with a median age of 42 years. Compare Montevideo with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Montevideo
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| La Crescent | 5,266 | $82,109 | $244,500 | Compare |
| North Oaks | 5,175 | $235,858 | $756,300 | Compare |
| Falcon Heights | 5,145 | $93,233 | $366,800 | Compare |
| St. Paul Park | 5,464 | $98,670 | $252,800 | Compare |
| Morris | 5,092 | $63,807 | $185,200 | Compare |
| Credit River | 5,531 | $149,524 | $577,600 | Compare |
| Redwood Falls | 5,075 | $61,947 | $162,000 | Compare |
| Lake City | 5,021 | $76,125 | $234,100 | 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 Montevideo With Other Cities
Frequently Asked Questions about Montevideo
What is the population of Montevideo, MN?
The population of Montevideo, MN is 5,303 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 Montevideo?
The median household income in Montevideo, MN is $65,724 per year, which is 13% below the national median of $75,149.
What is the median home value in Montevideo?
The median home value in Montevideo, MN is $137,600, which is 44% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Montevideo?
The median monthly rent in Montevideo, MN is $832, which is 28% below the national average of $1,163/month.
What is the unemployment rate in Montevideo?
The unemployment rate in Montevideo, MN is 2.4%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Montevideo, MN a good place to live?
Montevideo offers a moderate cost of living, affordable housing, and a strong job market. With a population of 5,303 and a median age of 42, the city appeals to a broad range of residents.
How educated is Montevideo, MN?
19.7% of residents in Montevideo 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 Montevideo?
Key cost-of-living indicators for Montevideo, MN: median home value is $137,600 (44% below national), median rent is $832/month, and median household income is $65,724. The home-value-to-income ratio is 2.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Montevideo?
The poverty rate in Montevideo, MN is 19.3%, 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 Montevideo, MN?
Montevideo's population is 3.3% White, 1.1% Hispanic or Latino, 0.0% Black or African American, 10.5% Asian, and 1.9% two or more races. 8.2% of residents are foreign-born.