Paynesville, MN
Population 2,476 · Minnesota
About Paynesville, MN
Paynesville is a small town located in Minnesota with a population of 2,476 residents according to the latest US Census Bureau American Community Survey data. The median household income is $72,105 per year, which is 4% below the national median of $75,149. The median age of 40.6 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Paynesville features a median home value of $168,800, which is 31% below the national median of $244,900. This positions Paynesville in a moderately priced market relative to the rest of the country. Median monthly rent is $791, 32% below the national average of $1,163/month. Of the 1,236 total housing units, 69% are owner-occupied (768 units) and 31% are renter-occupied (342 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Paynesville shows an unemployment rate of 2.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 5.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Paynesville have an average one-way commute time of 21.5 minutes.
Education & Demographics
27.9% of Paynesville 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 4.8% White, 4.1% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 1.0% of the population being foreign-born.
Cost of Living in Paynesville, MN
Compared to national averages, Paynesville has a median household income of $72,105 (4% below the national median of $75,149). Home values average $168,800, which is 31% below the national median. Monthly rent at $791 is 32% below the US average of $1,163. Within Minnesota, Paynesville's income is 3% below the state average of $74,221, and home values are 17% below the state median of $204,472.
Why Live in Paynesville, MN?
Paynesville offers affordable housing with a median home value of $168,800, below the US average of $244,900, and rent that’s lower than the national average at $791/month, and a strong job market with an unemployment rate of just 2.3%. Additionally, the city features a low poverty rate of 5.5%, better than the national average, and short commute times averaging just 21.5 minutes.
Potential considerations include median household income ($72,105) that falls below the national average. However, Paynesville’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Paynesville has a population of 2,476 with a median age of 40.6 years. Compare Paynesville with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Paynesville
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Mayer | 2,501 | $120,551 | $330,400 | Compare |
| Janesville | 2,449 | $72,120 | $194,400 | Compare |
| Le Center | 2,514 | $66,864 | $189,800 | Compare |
| Rockville | 2,521 | $101,447 | $327,400 | Compare |
| Lake Crystal | 2,530 | $77,979 | $193,800 | Compare |
| Sandstone | 2,538 | $50,288 | $137,500 | Compare |
| Lauderdale | 2,386 | $76,558 | $273,600 | Compare |
| Wabasha | 2,569 | $62,016 | $212,800 | 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 Paynesville With Other Cities
Frequently Asked Questions about Paynesville
What is the population of Paynesville, MN?
The population of Paynesville, MN is 2,476 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 Paynesville?
The median household income in Paynesville, MN is $72,105 per year, which is 4% below the national median of $75,149.
What is the median home value in Paynesville?
The median home value in Paynesville, MN is $168,800, which is 31% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Paynesville?
The median monthly rent in Paynesville, MN is $791, which is 32% below the national average of $1,163/month.
What is the unemployment rate in Paynesville?
The unemployment rate in Paynesville, MN is 2.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Paynesville, MN a good place to live?
Paynesville offers a moderate cost of living, affordable housing, and a strong job market. With a population of 2,476 and a median age of 40.6, the city appeals to a broad range of residents.
How educated is Paynesville, MN?
27.9% of residents in Paynesville 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 Paynesville?
Key cost-of-living indicators for Paynesville, MN: median home value is $168,800 (31% below national), median rent is $791/month, and median household income is $72,105. The home-value-to-income ratio is 2.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Paynesville?
The poverty rate in Paynesville, MN is 5.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Paynesville, MN?
Paynesville's population is 4.8% White, 4.1% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.4% two or more races. 1.0% of residents are foreign-born.