Taconite, MN
Population 541 · Minnesota
About Taconite, MN
Taconite is a small community located in Minnesota with a population of 541 residents according to the latest US Census Bureau American Community Survey data. The median household income is $100,089 per year, which is 33% above the national median of $75,149. The median age of 46.8 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 Taconite features a median home value of $217,900, which is 11% below the national median of $244,900. This positions Taconite in a moderately priced market relative to the rest of the country. Median monthly rent is $2,646, 128% above the national average of $1,163/month. Of the 268 total housing units, 92% are owner-occupied (204 units) and 8% are renter-occupied (17 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Taconite shows an unemployment rate of 1.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 3.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Taconite have an average one-way commute time of 26.1 minutes.
Education & Demographics
15.9% of Taconite 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 0.0% White, 3.9% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Taconite, MN
Compared to national averages, Taconite has a median household income of $100,089 (33% above the national median of $75,149). Home values average $217,900, which is 11% below the national median. Monthly rent at $2,646 is 128% above the US average of $1,163. Within Minnesota, Taconite's income is 35% above the state average of $74,221, and home values are 7% above the state median of $204,472.
Why Live in Taconite, MN?
Taconite offers a strong local economy with a median household income of $100,089, well above the national average, and affordable housing with a median home value of $217,900, below the US average of $244,900, and a strong job market with an unemployment rate of just 1.9%. Additionally, the city features a low poverty rate of 3.5%, better than the national average.
Taconite has a population of 541 with a median age of 46.8 years. Compare Taconite with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Taconite
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Medicine Lake | 541 | $161,250 | $1,014,500 | Compare |
| Ranier | 541 | $81,389 | $140,400 | Compare |
| Hill City | 543 | $39,583 | $102,900 | Compare |
| White Earth | 543 | $18,929 | $73,300 | Compare |
| Balaton | 544 | $54,091 | $85,000 | Compare |
| Hamburg | 544 | $78,125 | $229,200 | Compare |
| Kiester | 544 | $49,167 | $52,600 | Compare |
| Brownton | 530 | $77,159 | $148,500 | 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.
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Frequently Asked Questions about Taconite
What is the population of Taconite, MN?
The population of Taconite, MN is 541 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Minnesota.
What is the median household income in Taconite?
The median household income in Taconite, MN is $100,089 per year, which is 33% above the national median of $75,149.
What is the median home value in Taconite?
The median home value in Taconite, MN is $217,900, which is 11% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Taconite?
The median monthly rent in Taconite, MN is $2,646, which is 128% above the national average of $1,163/month.
What is the unemployment rate in Taconite?
The unemployment rate in Taconite, MN is 1.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Taconite, MN a good place to live?
Taconite offers above-average incomes, affordable housing, and a strong job market. With a population of 541 and a median age of 46.8, the city appeals to established professionals and retirees.
How educated is Taconite, MN?
15.9% of residents in Taconite 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 Taconite?
Key cost-of-living indicators for Taconite, MN: median home value is $217,900 (11% below national), median rent is $2,646/month, and median household income is $100,089. The home-value-to-income ratio is 2.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Taconite?
The poverty rate in Taconite, MN is 3.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Taconite, MN?
Taconite's population is 0.0% White, 3.9% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.