Sleepy Eye, MN
Population 3,438 · Minnesota
About Sleepy Eye, MN
Sleepy Eye is a small town located in Minnesota with a population of 3,438 residents according to the latest US Census Bureau American Community Survey data. The median household income is $64,811 per year, which is 14% below the national median of $75,149. The median age of 41.7 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Sleepy Eye features a median home value of $138,500, which is 43% below the national median of $244,900. This makes Sleepy Eye one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $757, 35% below the national average of $1,163/month. Of the 1,654 total housing units, 83% are owner-occupied (1,215 units) and 17% are renter-occupied (255 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Sleepy Eye shows an unemployment rate of 2.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 7.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Sleepy Eye have an average one-way commute time of 15.1 minutes, one of the shorter commutes in the region.
Education & Demographics
21.0% of Sleepy Eye 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 13.6% White, 0.0% Hispanic or Latino, 0.1% Black or African American, and 0.9% Asian residents, with 8.4% of the population being foreign-born.
Cost of Living in Sleepy Eye, MN
Compared to national averages, Sleepy Eye has a median household income of $64,811 (14% below the national median of $75,149). Home values average $138,500, which is 43% below the national median. Monthly rent at $757 is 35% below the US average of $1,163. Within Minnesota, Sleepy Eye's income is 13% below the state average of $74,221, and home values are 32% below the state median of $204,472.
Why Live in Sleepy Eye, MN?
Sleepy Eye offers affordable housing with a median home value of $138,500, below the US average of $244,900, and rent that’s lower than the national average at $757/month, and a strong job market with an unemployment rate of just 2.7%. Additionally, the city features a low poverty rate of 7.7%, better than the national average, and short commute times averaging just 15.1 minutes.
Potential considerations include median household income ($64,811) that falls below the national average. However, Sleepy Eye’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Sleepy Eye has a population of 3,438 with a median age of 41.7 years. Compare Sleepy Eye with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Sleepy Eye
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Benson | 3,449 | $51,124 | $146,100 | Compare |
| Eveleth | 3,470 | $47,721 | $91,800 | Compare |
| Hanover | 3,495 | $147,944 | $421,700 | Compare |
| Plainview | 3,501 | $69,800 | $230,600 | Compare |
| Breckenridge | 3,369 | $57,344 | $142,000 | Compare |
| Montgomery | 3,366 | $74,018 | $218,900 | Compare |
| Annandale | 3,365 | $50,536 | $195,100 | Compare |
| Pine City | 3,339 | $51,654 | $181,800 | 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 Sleepy Eye With Other Cities
Frequently Asked Questions about Sleepy Eye
What is the population of Sleepy Eye, MN?
The population of Sleepy Eye, MN is 3,438 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 Sleepy Eye?
The median household income in Sleepy Eye, MN is $64,811 per year, which is 14% below the national median of $75,149.
What is the median home value in Sleepy Eye?
The median home value in Sleepy Eye, MN is $138,500, which is 43% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Sleepy Eye?
The median monthly rent in Sleepy Eye, MN is $757, which is 35% below the national average of $1,163/month.
What is the unemployment rate in Sleepy Eye?
The unemployment rate in Sleepy Eye, MN is 2.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Sleepy Eye, MN a good place to live?
Sleepy Eye offers a moderate cost of living, affordable housing, and a strong job market. With a population of 3,438 and a median age of 41.7, the city appeals to a broad range of residents.
How educated is Sleepy Eye, MN?
21.0% of residents in Sleepy Eye 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 Sleepy Eye?
Key cost-of-living indicators for Sleepy Eye, MN: median home value is $138,500 (43% below national), median rent is $757/month, and median household income is $64,811. The home-value-to-income ratio is 2.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Sleepy Eye?
The poverty rate in Sleepy Eye, MN is 7.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Sleepy Eye, MN?
Sleepy Eye's population is 13.6% White, 0.0% Hispanic or Latino, 0.1% Black or African American, 0.9% Asian, and 0.0% two or more races. 8.4% of residents are foreign-born.