Park Rapids, MN
Population 4,226 · Minnesota
About Park Rapids, MN
Park Rapids is a small town located in Minnesota with a population of 4,226 residents according to the latest US Census Bureau American Community Survey data. The median household income is $45,800 per year, which is 39% below the national median of $75,149. The median age of 45.2 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 Park Rapids features a median home value of $218,500, which is 11% below the national median of $244,900. This positions Park Rapids in a moderately priced market relative to the rest of the country. Median monthly rent is $912, 22% below the national average of $1,163/month. Of the 2,098 total housing units, 51% are owner-occupied (1,002 units) and 49% are renter-occupied (970 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Park Rapids shows an unemployment rate of 6.9%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 13.4%, above the national average of 12.4%. Workers in Park Rapids have an average one-way commute time of 27 minutes.
Education & Demographics
25.6% of Park Rapids 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 1.2% White, 3.8% Hispanic or Latino, 0.0% Black or African American, and 1.2% Asian residents, with 2.1% of the population being foreign-born.
Cost of Living in Park Rapids, MN
Compared to national averages, Park Rapids has a median household income of $45,800 (39% below the national median of $75,149). Home values average $218,500, which is 11% below the national median. Monthly rent at $912 is 22% below the US average of $1,163. Within Minnesota, Park Rapids's income is 38% below the state average of $74,221, and home values are 7% above the state median of $204,472.
Why Live in Park Rapids, MN?
Park Rapids offers affordable housing with a median home value of $218,500, below the US average of $244,900, and rent that’s lower than the national average at $912/month.
Potential considerations include median household income ($45,800) that falls below the national average. However, Park Rapids’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Park Rapids has a population of 4,226 with a median age of 45.2 years. Compare Park Rapids with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Park Rapids
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Cannon Falls | 4,216 | $80,515 | $262,100 | Compare |
| Columbus | 4,211 | $117,917 | $439,200 | Compare |
| Le Sueur | 4,204 | $71,563 | $216,700 | Compare |
| Cold Spring | 4,201 | $72,022 | $242,000 | Compare |
| Pipestone | 4,165 | $61,442 | $102,000 | Compare |
| Rice Lake | 4,120 | $95,347 | $283,700 | Compare |
| Goodview | 4,104 | $75,375 | $215,200 | Compare |
| Wadena | 4,361 | $45,850 | $158,700 | 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 Park Rapids With Other Cities
Frequently Asked Questions about Park Rapids
What is the population of Park Rapids, MN?
The population of Park Rapids, MN is 4,226 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 Park Rapids?
The median household income in Park Rapids, MN is $45,800 per year, which is 39% below the national median of $75,149.
What is the median home value in Park Rapids?
The median home value in Park Rapids, MN is $218,500, which is 11% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Park Rapids?
The median monthly rent in Park Rapids, MN is $912, which is 22% below the national average of $1,163/month.
What is the unemployment rate in Park Rapids?
The unemployment rate in Park Rapids, MN is 6.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Park Rapids, MN a good place to live?
Park Rapids offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 4,226 and a median age of 45.2, the city appeals to established professionals and retirees.
How educated is Park Rapids, MN?
25.6% of residents in Park Rapids 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 Park Rapids?
Key cost-of-living indicators for Park Rapids, MN: median home value is $218,500 (11% below national), median rent is $912/month, and median household income is $45,800. The home-value-to-income ratio is 4.8x, a moderate figure by national standards.
What is the poverty rate in Park Rapids?
The poverty rate in Park Rapids, MN is 13.4%, 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 Park Rapids, MN?
Park Rapids's population is 1.2% White, 3.8% Hispanic or Latino, 0.0% Black or African American, 1.2% Asian, and 0.9% two or more races. 2.1% of residents are foreign-born.