Redwood Falls, MN
Population 5,075 · Minnesota
About Redwood Falls, MN
Redwood Falls is a small town located in Minnesota with a population of 5,075 residents according to the latest US Census Bureau American Community Survey data. The median household income is $61,947 per year, which is 18% below the national median of $75,149. The median age of 43.1 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 Redwood Falls features a median home value of $162,000, which is 34% below the national median of $244,900. This positions Redwood Falls in a moderately priced market relative to the rest of the country. Median monthly rent is $824, 29% below the national average of $1,163/month. Of the 2,473 total housing units, 71% are owner-occupied (1,519 units) and 29% are renter-occupied (630 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Redwood Falls shows an unemployment rate of 1.1%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 15.2%, above the national average of 12.4%. Workers in Redwood Falls have an average one-way commute time of 12.2 minutes, one of the shorter commutes in the region.
Education & Demographics
22.1% of Redwood Falls 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 3.9% White, 5.9% Hispanic or Latino, 0.0% Black or African American, and 0.4% Asian residents, with 1.0% of the population being foreign-born.
Cost of Living in Redwood Falls, MN
Compared to national averages, Redwood Falls has a median household income of $61,947 (18% below the national median of $75,149). Home values average $162,000, which is 34% below the national median. Monthly rent at $824 is 29% below the US average of $1,163. Within Minnesota, Redwood Falls's income is 17% below the state average of $74,221, and home values are 21% below the state median of $204,472.
Why Live in Redwood Falls, MN?
Redwood Falls offers affordable housing with a median home value of $162,000, below the US average of $244,900, and rent that’s lower than the national average at $824/month, and a strong job market with an unemployment rate of just 1.1%. Additionally, the city features short commute times averaging just 12.2 minutes.
Potential considerations include median household income ($61,947) that falls below the national average. However, Redwood Falls’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Redwood Falls has a population of 5,075 with a median age of 43.1 years. Compare Redwood Falls with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Redwood Falls
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Morris | 5,092 | $63,807 | $185,200 | Compare |
| Lake City | 5,021 | $76,125 | $234,100 | Compare |
| Falcon Heights | 5,145 | $93,233 | $366,800 | Compare |
| Princeton | 4,988 | $52,450 | $212,200 | Compare |
| Circle Pines | 4,980 | $96,477 | $277,300 | Compare |
| North Oaks | 5,175 | $235,858 | $756,300 | Compare |
| Becker | 4,958 | $90,188 | $257,600 | Compare |
| Lindstrom | 4,933 | $99,844 | $336,800 | 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 Redwood Falls With Other Cities
Frequently Asked Questions about Redwood Falls
What is the population of Redwood Falls, MN?
The population of Redwood Falls, MN is 5,075 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 Redwood Falls?
The median household income in Redwood Falls, MN is $61,947 per year, which is 18% below the national median of $75,149.
What is the median home value in Redwood Falls?
The median home value in Redwood Falls, MN is $162,000, which is 34% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Redwood Falls?
The median monthly rent in Redwood Falls, MN is $824, which is 29% below the national average of $1,163/month.
What is the unemployment rate in Redwood Falls?
The unemployment rate in Redwood Falls, MN is 1.1%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Redwood Falls, MN a good place to live?
Redwood Falls offers a moderate cost of living, affordable housing, and a strong job market. With a population of 5,075 and a median age of 43.1, the city appeals to a broad range of residents.
How educated is Redwood Falls, MN?
22.1% of residents in Redwood Falls 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 Redwood Falls?
Key cost-of-living indicators for Redwood Falls, MN: median home value is $162,000 (34% below national), median rent is $824/month, and median household income is $61,947. The home-value-to-income ratio is 2.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Redwood Falls?
The poverty rate in Redwood Falls, MN is 15.2%, 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 Redwood Falls, MN?
Redwood Falls's population is 3.9% White, 5.9% Hispanic or Latino, 0.0% Black or African American, 0.4% Asian, and 0.0% two or more races. 1.0% of residents are foreign-born.